Jurisdiction(s):
United Kingdom

Key definition

Transaction definition

What does Transaction mean? A transaction describes a legally binding dealing or arrangement by which assets, securities, services or obligations are created, transferred, varied or extinguished, whether as a single step or a series of steps. In practice this includes corporate acquisitions and disposals, real estate conveyancing, lending and taking security, restructurings, derivatives and other commercial dealings. In capital markets, a transaction commonly means the purchase, sale, subscription or underwriting of a particular investment. The term is a descriptive umbrella used across multiple legal contexts rather than a term with a single statutory meaning. Specific legislation, regulatory rules and contracts may define “transaction”...

Flooding and Secured Lending: Valuation, Planning, Insurance (Flood Re), Due Diligence, Defaults and Lender Protections

Published by a LexisNexis Environment expert

Practice notes

Effects of flooding on underlying assets

Flood events raise a range of considerations for banking and finance deals. This Practice Note flags the following areas:

individual risks
planning Policy
Availability of insurance
borrower default

It also outlines how a lender may reduce exposure to these risks.

Individual risks

Floodwater can inflict serious harm on people, property and businesses. It may influence whether someone chooses to purchase or lease a home, and it can impact the valuation of real estate.

In ‘Deep Water Horizon’, 2018, the Royal Institution of Chartered Surveyors (RICS) considers the rising incidence of floods and how the surveying profession might respond and manage the issue.

The price of residential or commercial premises can fall owing to flood risk, not only due to potential physical damage but also because of the expense of flood insurance. Flooding also bears upon liquidity, market perception and mortgage-ability. Although the flood insurance market is changing, with risk cover becoming more accessible and cost-effective, higher excesses or the...

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Michael Barlow

Burges Salmon

Michael leads the environment team and the cross-firm water sector team. Michael covers contentious and non-contentious business for a range of clients from a variety of sectors. He has substantial experience of running cases in criminal courts, tribunals and civil courts to the Supreme Court as well as other methods of dispute resolution including arbitration and mediation. On the non-contentious side, Michael has particular expertise in energy efficiency, contaminated land and environmental permitting but has advised on a broad range of topics over the last 15 years. Michael is a former editor of the Environmental Law Review, regularly lectures on environmental law and contributes articles to environmental journals. ...

Michael Bowes

6 Pump Court

Dr Michael Bowes has extensive experience in law including: Infrastructure, Energy, Planning, Environmental, Commercial and Competition. In addition, he has considerable experience in Water Law and is recognised as an industry expert. He provides advice to the top level of those in Law and Industry.He currently works at 6 Pump Court Chambers as a barrister. Michael joined Chambers from a long and successful career in private practice. He qualified as a solicitor in 2007. During the previous decade, he worked with Eversheds Sutherland LLP and BCLP LLP as a senior regulatory specialist. He led teams in Nationally Significant Infrastructure Projects to include Development Consent Orders and Transport Works Act Orders. Previous to this, he worked as a lawyer with international organisations (The United Nations, The Council of Europe) and private organisations (fund management, private enterprise, private practice). He has also taught...

Web page updated on 21/05/2026

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