We will track here amendments to this resource that reflect changes in law and practice.
A guide to PLC Finance's asset finance resources.
Asset finance covers the financing of all sorts of assets, from the so-called "big ticket" assets such as ships and aircraft, to smaller items of plant and machinery such as ship containers, buses and wheelybins. Financing can be of a single asset or of a whole series of assets, and the financing may be done by way of secured lending or leasing.
As well as links to PLC Finance's asset finance practice notes, checklists, standard documents and drafting notes, this note links to resources relevant to asset finance from other PLC services such as PLC Tax, PLC Cross-border and PLC Environment.
This note acts as a guide to PLC Finance's resources on the debt financing of assets intended to be used for commercial purposes. Examples of asset financing include aviation finance, ship finance and equipment finance.
For an introduction to asset finance, including an introduction to the types of structures used in asset financing and some of the key issues relevant to those structures, see Practice note, Asset finance: overview (www.practicallaw.com/8-202-1228).
For an overview of financing an asset using secured lending, see Practice note, Asset finance: overview: Secured lending (www.practicallaw.com/8-202-1228).
For an outline of the options available to lenders when taking security, see Practice note, Taking security (www.practicallaw.com/2-107-4032).
For an introduction to the different methods of perfecting security, the basic rules governing priority and contractual ways in which the rules can be varied, see Practice note, Perfection and priority of security (www.practicallaw.com/6-107-5015).
For a note providing an overview of the issues that need to be considered when taking security over a foreign asset or from a foreign entity, see Practice note, Taking cross-border security (www.practicallaw.com/6-236-8965).
For a multi-jurisdictional guide to taking security, see PLC Cross-border Finance Handbook.
For an overview of PLC Finance's resources on security and quasi security arrangements, see Practice note, A guide to PLC Finance's security and quasi security resources (www.practicallaw.com/1-386-3269).
For an introduction to financing an asset using leasing, see Practice note, Asset finance: overview: Leasing (www.practicallaw.com/8-202-1228).
For an overview of leasing as a financing technique, see Practice note, Leasing as a financing technique: overview (www.practicallaw.com/1-202-1444).
For an overview of financing an asset using a combination of secured lending and leasing, see Practice note, Asset finance: overview: Combined secured lending and leasing (www.practicallaw.com/8-202-1228).
For an overview of some of the principal types of financing structures, key commercial considerations, legal documents and key issues involved in shipping finance transactions, see Practice note, Shipping finance: overview (www.practicallaw.com/7-501-2075).
For an overview of the main parties, key features of the various financing options, some of the principal types of financing structures, the typical finance documents and key considerations involved in aircraft finance transactions, see Practice note, Aircraft finance: overview (www.practicallaw.com/0-508-4527).
For an overview of film production financing, looking at the types of finance structure, parties and documents involved in film production finance transactions, see Practice note, Film finance: overview (www.practicallaw.com/4-520-2114).
For a summary of the tax issues that frequently arise in respect of commercial lending transactions, see Practice note, Tax for banking lawyers (www.practicallaw.com/8-201-9942).
For a summary of the tax regime applying to equipment leasing transactions, see Practice note, Equipment leasing: tax (www.practicallaw.com/7-107-3737).
For a summary of the UK withholding tax (www.practicallaw.com/8-107-7508) rules on payments of interest and certain other payments, see Practice note, Withholding tax (www.practicallaw.com/5-201-9175).
For a summary of the various VAT issues that arise for banks in the course of their business, see Practice note, VAT issues for banks (www.practicallaw.com/6-201-9919).
For more information on anti-avoidance case law and tax, issues which are often relevant to structuring asset finance transactions, see:
For a multi-jurisdictional guide to taxes on corporate transactions and finance transactions, see PLC Cross-border, Tax on Transactions Handbook.
Environmental issues are often important in asset finance, for example, pollution is an issue in ship finance (the risk of which is usually mitigated using insurance). For a note on environmental issues that can arise in finance transactions, see Practice note, Environmental issues in finance transactions (www.practicallaw.com/5-202-2489).
For a note which explains the various doctrines and principles concerned with insurance, including what constitutes an insurable interest, subrogation (www.practicallaw.com/6-107-7335), joint insurance, double insurance and noting, see Practice note, General principles of insurance law (www.practicallaw.com/3-203-9754).
For an overview of the matters to be considered when requesting or responding to a request for an English legal opinion in a finance transaction, see Practice note, Legal opinions in finance transactions: overview (www.practicallaw.com/6-201-7053).
For a note on the execution of deeds and documents which includes specimen execution clauses for various legal entities, see Practice note, Execution of deeds and documents (www.practicallaw.com/0-380-8400).
For a note on the role of notaries which explains what notarisation, legalisation and apostille mean, see Practice note, Notaries and notarisation (www.practicallaw.com/5-238-0996).
The potential implications of insolvency law should be recognised when advising on asset finance transactions. The following resources provide an overview of various insolvency procedures.
For an overview of PLC Finance's resources on restructuring and insolvency, see Practice note, A guide to PLC Finance's restructuring and insolvency resources (www.practicallaw.com/4-500-4656).
For an introduction to the aims of and background to corporate insolvency law, together with a brief overview of the various insolvency procedures available, see Practice note, Corporate insolvency: a guide (www.practicallaw.com/8-107-3973).
For a note that looks at the key stages involved in restructuring (www.practicallaw.com/1-384-6171) corporate debt, see Practice note, Corporate debt restructuring: step by step (www.practicallaw.com/7-201-5534).
For a multi-jurisdictional guide to restructuring and insolvency, see PLC Cross-border, Restructuring and Insolvency Handbook.
For background information on the international aspects of insolvency, including Council Regulation (EC) No. 1346/2000 of 29 May 2000 on insolvency proceedings (OJ 2000 L160/1), UNCITRAL model on cross border insolvencies, section 426 of the Insolvency Act 1986 and the common law, see Practice note, Cross-border insolvencies (www.practicallaw.com/2-107-3985).
Links to PLC Finance resources on asset finance:
Links to PLC services covering key practice areas relevant to asset finance transactions:
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