Either a borrower or a lender be
Tughans’ banking and finance team understand that the practice of advising lenders and borrowers on the structuring, documentation and implementation of debt finance facilities is a complex area of law. Our expert, knowledgeable and experienced team can offer the required mixture of specialist legal knowledge and commercial common sense, to ensure that each participant’s commercial agreement is implemented whilst providing protection for all clients.
What we do
- “Plain vanilla” banking, financing and security for conventional lending
Undoubtedly, there has been a distinct change in the lending marketplace over the past number of years and clearly the availability of finance for corporate lending
is at a premium. This means that both lenders and borrowers can benefit from advice by lawyers who are already experienced in the field of banking law. It is equally imperative that those lawyers can ensure that any commercial deal between parties is implemented coherently and concisely. In circumstances where the availability of credit is at a premium, our clients need to know that our team is adept at assuring deals are completed which focus on maximising benefits and minimising risks.
Our finance and restructuring team has extensive experience in all aspects of secured and unsecured lending, including the acquisition of corporate entities through merger and acquisition activity, MBOs and leveraged acquisitions; the financing of asset acquisitions (including aircraft and ships) and the securitisation of various receivables portfolios (such as invoice receivables, credit cards and residential mortgages). Our team regularly advises both lenders and borrowers on the structure and documentation of such transactions.
- Refinancing, restructuring, workouts and distressed situations
Our banking and finance team is knowledgeable in areas of distressed lending. It is natural that lenders look to their security for mechanisms to deal with problem cases. Enforcement action on the part of lenders is becoming an increasingly common occurrence and one that is likely to continue for some time. Nonetheless, lenders and borrowers need to have access to legal advisers who are able to structure proposals for the borrower based on its unique circumstances rather than simply looking at enforcement.
Our team of banking lawyers has a breadth of experience in the distressed arena and are regularly engaged by lenders and borrowers to advise on the available options. Whilst enforcement of security and formal insolvency procedures
may remain the ultimate recourse for lenders, the underlying theme of the United Kingdom’s insolvency legislation is very much geared to “recovery” and “rescue” rather than terminal insolvency procedures. Our lawyers specialise in looking at the “big picture” and determining if there is a mechanism to restructure the distressed lending or to rescue all or part of the business concerned. Having structured the proposal and negotiated the terms between the parties, our team appreciates that expeditious and effective delivery of agreed solutions is paramount.
- Standard documentation reviews for financial institutions
One of our standard service offerings to financial institution clients is to provide advice on the form and content of standard form lending and security taking documentation. In spite of the transformations in the UK and Irish banking markets, our team believes it is well placed to offer a valuable service in this respect. We are experienced in dealing with problems and obstacles developed within actual enforcement and restructuring scenarios; this ensures that our lawyers are adept in finding practical solutions to such problems as well as drafting standard documentation.
Instructing lawyers with outstanding legal expertise is a pre-requisite for any client and, with the banking and finance team our clients expect and receive nothing less. However, against the backdrop of the fluctuating financial markets, legal expertise is only one part of the equation; our lawyers firmly believe in understanding our clients’ businesses, so that they can provide a unique service that is not only “legal” but also sensitive to commercial imperatives.
Our team is comprised of specialist finance and restructuring lawyers that practice exclusively in banking law
and accordingly, can provide a dedicated service to our clients. Fearghal O’Loan is the team leader.
The nature of the ever-changing financial world has necessitated ensuring that banking and finance transactions are properly structured and documented. Additionally, it is imperative that specialist advice is taken in respect of finance and restructuring transactions which are, by their nature, complex whether you are the lender or the borrower. Our dedicated team of banking lawyers
has the knowledge and experience to assist our clients in ensuring that all parties’ legal obligations are clearly set out, understood and expeditiously completed.
"Very well connected and very proactive in terms of making transactions happen
"They do what they do well and efficiently
.” (Chambers UK 2014
' "The level of service is strong and they are very pragmatic about fees,"
according to one impressed source.' (Chambers UK 2013)
In Chambers 2011 clients praise a team which has “great market knowledge and commitment to deliver”
. Fearghal is also commended for “making time for enquiries no matter how small” and clients note that “turnaround times are excellent”.
The Legal 500 also identifies the team as “an excellent team which frequently advises on cross-border, multi-jurisdictional matters”
and Fearghal draws praise for “dealing with clients in a professional manner”
. Fearghal trained, qualified and practised with City of London firm Norton Rose in that firm’s Restructuring and Finance Team before returning to Belfast in 2005 to join Tughans and build Tughans’ Banking and Finance Department.