Asset based lending

Businesses often have substantial capital tied up in tangible assets, such as property, equipment or inventory. We work with lenders providing asset backed finance to these businesses, with tailored solutions for all types of arrangements in this arena.

We work with clearing banks, non-bank lenders and international banks, lending both out of the UK and internationally.

Whether working on a live deal, a requirement for a set of standard template documentation or a review/refresh of existing templates, our accomplished lawyers provide advice that reflects the ambitions and motivations of our clients.

Our team has a great deal of experience of complex, large and novel transactions, and many of our key practitioners have worked in magic and silver circle law firms and US law firms, broadening our capability.

• Advising a major high street bank on the updating of its standard invoice finance documentation, so that it is in compliance with the ABFA standards and industry practice.
• Acting for a leading Northern Irish bank who advanced invoice finance facilities to a Northern Irish based group of companies to assist on the acquisition of an electrical supplier business in Northern Ireland. We assisted the bank in structuring the transactions which involved reviewing of the debt purchase facility agreements, overdraft facilities, share sale agreements and perfecting the various items of security.
• Advising a finance house on an innovative lending structure based on the security of its agricultural subsidies from the Rural Payments Office.
• Assisting a discounter in relation to recovery of funds advanced to a recruitment consultancy, including advising on the sale and purchase agreement ahead of a pre-pack.
• Acting for an ABL in relation to a fresh air invoicing scam involving an IT business. This includes investigating the scam and advising on a strategy, which utilised all recovery options, including against debtors of the company, enforcing the terms of PGs and intercompany guarantees and pursuing fraudsters by piercing the corporate veil.