Jurisdiction(s):
United Kingdom

Key definition

Availability definition

What does Availability mean? In asset-based lending, availability is the borrowing headroom a borrower can draw at a given time, calculated by reference to the agreed borrowing base. It is a commercial term used in ABL facility agreements rather than a concept defined by legislation or case law in England & Wales, Scotland, Northern Ireland or Ireland. Availability typically equals the sum of advance rates applied to eligible asset classes (commonly receivables and inventory/stock, and sometimes plant and machinery or real estate components) less agreed reserves and less current utilisation, and is always capped by the facility limit. It is affected by eligibility criteria,...

Emergency and interim judicial measures supporting arbitration in New York: stays, injunctions, attachments and evidence-gathering under the FAA and CPLR

Published by a LexisNexis Arbitration expert

Practice notes

This Practice Note

This Practice Note reviews the availability of emergency and interim measures in aid of arbitration in New York, United States of America. New York is a jurisdiction supportive of arbitration, and its courts will, where warranted, issue emergency or interim relief to assist arbitral proceedings. Such relief can be pursued both before a claim is filed and during the pendency of the arbitration. The Note highlights the principal types of urgent remedies available under the United States Federal Arbitration Act (the FAA), which governs arbitrations involving interstate or international commerce, together with New York’s Civil Practice Law and rules, the procedural code applied in the state courts of New York. At the outset, turning to a court may not be required. Many arbitral institutions provide mechanisms enabling parties to seek urgent measures from the arbitral tribunal, or from an emergency arbitrator prior to the tribunal’s constitution (for example, article 29 and Appendix V of the arbitration rules of the International Chamber of Commerce (the ICC Rules)). If an emergency arbitrator grants relief, the order may later be amended...

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Justin Ben-Asher

Steptoe LLP

Justin Ben-Asher represents clients in commercial disputes, including in complex multidistrict litigation and international arbitrations. His work spans the aerospace and defence, energy, construction, financial services, and insurance industries, among others. His pro bono legal service includes representation of the City of New York, as well as housing and family court matters. He is a recipient of The Legal Aid Society’s Pro Bono Publico Award....

Jennie Askew

Steptoe International (UK) LLP

Jennie focuses her practice on commercial litigation and international arbitration matters. She has experience analysing issues arising under the Foreign Sovereign Immunities Act, SEC matters, the Foreign Corrupt Practices Act, and § 1983 claims, among other areas. Prior to joining Steptoe, Jennie was a judicial intern for the Honourable Ellen L. Hollander, US District Court for the District of Maryland. She researched and drafted judicial opinions resolving certain dispositive motions, and prepared bench memoranda analysing a range of substantive legal issues, including conditional certification under the Fair Labor Standards Act, statutory administrative schemes, and federal jurisdiction....

Chris Paparella

Steptoe LLP

Chris Paparella concentrates on financial services litigation and international disputes. He has represented financial institution clients in federal and state court litigation and arbitration involving mortgage-backed securities, securities fraud, lender liability and foreign exchange transactions. Chris argued and won a ground-breaking case in New York’s highest court in which he obtained the dismissal of a $300 million fraud case on the grounds that the assignment of the claims to a litigation funder violated New York’s champerty statute. Justinian Capital SPC v. West LB AG, 28 N.Y.3d 160 (2016). Chris has also represented clients in international and domestic arbitrations in New York, London, Mexico City, Paris, Amsterdam and elsewhere. Chris has developed particular familiarity and skill in the energy and process industries and has represented participants in offshore and onshore oil and gas production facilities, as well as a variety of downstream process plants and other...

Web page updated on 21/05/2026

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