FRANCE CONTENTS
5. Guarantees and Security p.94 5.1 Assets and Forms of Security p.94 5.2 Floating Charges and/or Similar Security Interests p.94 5.3 Downstream, Upstream and Cross-Stream Guarantees p.94 5.4 Restrictions on the Target p.94 5.5 Other Restrictions p.94 5.6 Release of Typical Forms of Security p.96 5.7 Rules Governing the Priority of Competing Security Interests and/or Claims p.96 5.8 Priming Liens and/or Claims p.96 5.9 Cash Pooling and Hedging/Cash Management Obligations p.96 5.10 Bank Licensing p.97 6. Enforcement p.97 6.1 Enforcement of Collateral by Non-Bank Secured Lenders p.97 6.2 Foreign Law and Jurisdiction p.98 6.3 Foreign Court Judgments p.98 6.4 A Foreign Private Credit Lender’s Ability to Enforce Its Rights p.98 6.5 Timing and Cost of Enforcement p.98 6.6 Practical Considerations/Limitations on Enforcement p.99 6.7 Claims Against Secured Lenders Post-Enforcement p.99 7. Bankruptcy and Insolvency p.100 7.1 Impact of Insolvency Processes p.100 7.2 Waterfall of Payments p.101 7.3 Length of Insolvency Process and Recoveries p.101 7.4 Rescue or Reorganisation Procedures Other Than Insolvency p.102 7.5 Risk Areas for Lenders p.102 7.6 Transactions Voidable Upon Insolvency p.103 7.7 Set-Off Rights p.103 7.8 Out-of-Court v In-Court Enforcement p.103 7.9 Dissenting Lenders and Non-Consensual Restructurings p.104 7.10 Expedited Restructurings p.105 8. Case Studies and Practical Insights p.105 8.1 Notable Case Studies p.105 8.2 Lessons Learned p.106 8.3 Application of Insights p.106
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