The LMA: 25 years in the loan market – Ian Johnson and Edward Couzens examine the restructuring and insolvency regime in England & Wales

The Loan Market Association, in honour of its 25th anniversary, has prepared a book titled "The LMA: 25 Years in the Loan Market" which looks back on the last two and a half decades of the syndicated loan market, analysing its evolution over that time period. 

Ian Johnson, Head of our Restructuring and Insolvency practice, and Edward Couzens, an associate in our R&I team, contributed a chapter in which they examine the regime in England and Wales and how it has adapted to changing market conditions to provide one of the most attractive jurisdictions in which to implement a restructuring. The chapter focuses on:

  • use of the scheme of arrangement to address financial distress;
  • the innovation of the pre-packaged administration regime and the new restructuring plan procedure to impose a restructuring on an entire class of stakeholders; 
  • the increasing focus on compromising certain non-financial creditors; and
  • the innovations and challenges that may lie ahead as the restructuring landscape continues to change, not least in response to the Covid-19 pandemic.

Click here to download the chapter. 

Please click here to access the full copy of the “The LMA: 25 Years in the Loan market” book. 


This material is provided for general information only. It does not constitute legal or other professional advice.

Contact Information
Ian Johnson
Partner at Slaughter and May
Edward Couzens
Associate at Slaughter and May
Megan Sparber
PSL Counsel at Slaughter and May