MF Global special administrators release their proposals *

United Kingdom - December 21 2011
On 16 December 2011 the special administrators of MF Global UK Limited ("MFG UK") published their proposals for achieving the purpose of the special administration.

Co-authors: Victoria Thompson.

---

MF Global - UK update as of 1 December 2011 *

United Kingdom - December 5 2011
We are starting to see signs of movement from the special administrators in relation to clients and creditors who have exposure to MF Global UK Limited ("MF Global UK").

Co-authors: Victoria Thompson, Brett Hillis.

---

Research memo - administration and forfeiture *

United Kingdom - November 4 2011
If a tenant company fails to pay its rent when due (subject to any grace periods in the lease) the landlord ordinarily has the right to forfeit the lease either by peaceable re-entry of the property or by legal proceedings.

---

Research memo - negative net assets *

United Kingdom - November 4 2011
When is a company in insolvent?

---

Research memo - material adverse change/MAC *

USA - November 4 2011
MAC clauses act as a “catch all” provision and aim to allow a lender to call a default if there is an adverse change either in the borrower’s position or circumstances or in the wider environment after a defined date.

---