Jurisdiction(s):
United Kingdom

Key definition

Option definition

What does Option mean? An option is a contractual right (but not an obligation) to buy (a call) or sell (a put) specified property, shares or other assets at an agreed or formula-based price (the exercise price), exercisable on a fixed date or within a defined exercise period. The grantor must keep the offer open; the holder may elect to exercise. The term is descriptive and used across commercial contracts, real estate (options to purchase, overage), corporate/share options and financial derivatives. Its content is shaped mainly by contract and property case law, with statutory formalities where land is involved. Key features include: consideration or a premium...

UK Corporate Debt Restructuring: Key Stages and Options—Waivers/Resets, Rescheduling, LMEs, New Money, Debt‑for‑Equity, Newco Transfers, Asset Sales; Schemes, Restructuring Plans, CVAs and Administrations

Published by a LexisNexis Banking & Finance expert

Practice notes

There are several avenues for reshaping a company’s debt. The best route will hinge on how severe the company’s financial issues are, the complexity of its funding structures, and whether any creditors are dissenting...

What are the key stages in a debt restructuring process?

The principal stages are to:

stabilise the company (identify key parties and agree a standstill with creditors)
prepare for the restructuring (carry out due diligence, develop a business plan and secure a valuation)
implement the restructuring

A consensual restructuring is generally preferable for cost and speed, though formal procedures (eg company voluntary arrangements (CVAs), restructuring plans, schemes of arrangement or pre-pack administrations) can address dissenting creditors. For details of the key requirements, the core stages, and the stabilising, preparation and implementation phases in the restructuring journey, see Practice Note: Restructuring process...

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Web page updated on 21/05/2026

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