OpenLegislation

Division 2 No new business in the wind-down part

United Kingdom

Original text. Later amendments are not shown.

  1. 2.1Division 2.1
  2. 2.2Prolongations with existing customers remain allowed in the wind-down part too if there is a realistic and plausible prospect, supported by evidence, that a prolongation will improve the future serviceability or future utilisation of the financing. Prolongations will not be granted for longer than […]; justified exceptions with longer extension periods are to be disclosed to the Monitoring Trustee and adequately justified in each individual case. Even at the end of the restructuring period all wind-up activities must be resolved as quickly as possible.
  3. 2.3Division 2.3
  4. 2.4Division 2.4