Cov Lite: The Other Side of the Hill

Global Turnaround

May 2019
Reprinted with permission. This article appeared in the May 2019, Issue 232 of Global Turnaround.

In a recent article published in Global Turnaround, Howard Morris, head of the London Business Restructuring & Insolvency Group at Morrison & Foerster, discussed how in the era of easy credit, English law can help lenders deal with over-extended debtors. In this follow-up article, Mr. Morris looks at the borrowers’ perspective. He argues that while the absence of financial maintenance covenants enables borrowers to ignore their lenders, that doesn’t mean that the borrowers won’t be acting to deal with the financial crisis.

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