London Approach

A non-statutory, informal framework introduced with the support of the Bank of England in 1970 for dealing with financially distressed companies.

The London Approach covers temporary support operations mounted by banks and other lenders for a company or group in financial difficulties, pending its possible restructuring.

Applicable only to firms which are financially distressed but which could have a viable future.

See also

• Insolvency

References

1. http://www.bba.org.uk/policy/article/london-approach/fx-and-money-markets-policy/

2. http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/qb940208.pdf