Banks and Financial Institutions

Banking and Finance

Loan restructure to safeguard client’s commercial stability

We were involved in renegotiating and extending significant loan and revolving credit facilities on behalf of our client, a well-known plc. Our team acted quickly to ensure the new financing arrangements could be assessed by the company auditors prior to signing off annual accounts. Meeting the tight timeframe ensured the client had uninterrupted access to funding and avoided any threat to the financial stability of the business.

Supporting in house lawyers on all data protection issues in the finance sector

Advising on the operation and activities connected to the database of the company in administration, advising on data protection implications, data transfer arrangements and processing requirements. Drafting appropriate data processing agreement to cover all aspects of data sharing activities, including complex charging structure and customer journey arrangements to mirror data flows.

Banking and Finance

Misrepresentation – successfully defended a £15m damages claim for deceit

A series of loan notes were issued to raise capital for a care sector business. The Claimant (the capital provider) claimed that the financial information provided by our client was false and misleading. After failing to restructure its debts, the fund went into administration in 2014 resulting in the loss of the entire value of its investment. The fund issued a claim against our client in 2017. Our team successfully argued that the Claimant had failed to undertake reasonable due diligence at the time when they made the investment and failed to commence the claim within the six year statutory time limit. The claim was therefore found by the High Court to be ‘statute-barred’ and was dismissed.

Banking and Finance

Cost saving intercreditor agreement

We acted for a bank to renegotiate an intercreditor agreement that hindered the business of a longstanding customer. We advised a redesigned intercreditor with a built-in mechanism to allow new lenders to join the creditor arrangements at an appropriate and pre-determined priority position, based upon loan-type. With a large number of lenders and a private equity investor involved, negotiating the intercreditor was a complex process however its successful implementation means the bank’s customer is now able to access a greater array of financing options efficiently and without delay and high costs.

Banking and Finance

Multiple department advice on bank loan to beneficiaries of contested estate

Our client required complex cross department advice on a loan to a group of companies, controlled by two family members who were beneficiaries in a long-contested estate, to buy certain business assets of the estate. We provided seamless advice drawing on experts across our real estate finance, corporate law and private client law departments.

Banking and Finance

Hotel development finance facility

We acted for our client on a large and complex development finance facility to fund the redevelopment and upgrade of a large hotel site in a prime South East location. We have experts to advise on development finance and in the hotels sector who advised on the finance documents and creditor arrangements as well as negotiating with a major hotel chain on the non-disturbance agreement for the hotel.

Banking and Finance

Breach of covenants by restaurant chain

One of our roles is to advise on defaults and breaches of loan agreements. For this client bank its customer had breached its financial covenants. The customer, a nationwide chain of restaurants, had multiple loan agreements and it was a complex case because of certain pre-existing agreements between our client bank and the restaurant chain. The advice was extremely time sensitive and our swift delivery of all documentation demonstrated the manner in which we prioritised the commercial needs of our clients and their customer.

Private equity investor

Advised an innovative British bicycle manufacturer on their strategic partnership with a private equity investor; securing the businesses long term future and enabling it to broaden its product range and access international markets.

Dispute Resolution and Commercial Litigation Lawyers

Negotiated settlement for a high-net-worth family

We defended our client, a globally based family with international assets in property and art located in three different jurisdictions, against a claim for sums due under a loan agreement, which had fallen into default. Once proceedings were issued, the Claimant made an application for summary judgment and an agreement was reached prior to the determination of that application, providing an excellent and wholly successful outcome for our client.