banking and finance

experience

The following is a statement of FSP’s banking experience. The matters are described in general terms to protect confidentiality. The list is not intended to be exhaustive, but illustrative. Our specialist lawyers have an extensive range of experience in advising in this field. Please contact us for further information.
 

The banking group advises lenders on all legal aspects of property acquisitions, property development, corporate acquisitions, MBOs, MBIs and group reorganisations.

The banking group has considerable experience in advising lenders and corporate clients on the drafting and, where appropriate, the negotiation of –

• facility letters and agreements

• loan agreements

• legal charges

• debentures

• guarantees

• inter-creditor agreements

• subordination arrangements

• compliance with financial assistance requirements

• reports on title

The banking group also has considerable expertise in carrying out legal due diligence for lenders and producing the appropriate legal due diligence reports.

Recent transactions completed by the banking group include:

Jeremy Parkes (profiled below) acted for Sackville Developments (Warwick) Limited in the acquisition of a site at Tournament Fields, Warwick. This was acquired from Severn Trent and the funding for the transaction was provided by Royal Bank of Scotland ("RBS"). Jeremy negotiated the terms of the facility agreement, security documents and ancillary documents with McGrigors appointed by RBS.

Alex Illingworth (profiled below) provided the banking input on the sale of GTI Specialist Publishers Limited to a Newco in a transaction financed in part with funds from a private equity funder (Exponent) and in part by debt finance from Barclays Bank plc. The funding arrangements were inevitably complex with intricate subordination arrangements involving the vendors.

Jeremy Parkes and Alex Illingworth advised Allied Irish Bank on its provision of financing towards the acquisition of a company owning a restaurant. The entire transaction (which included a review of the share acquisition documents, review and approval of financial assistance paperwork and comprehensive review of property due diligence to produce a report on title) was completed within 7 days of first instruction.

Spotlight on the leading individuals in the banking group

Jeremy Parkes, partner, heads up the banking group and has considerable experience in acting for lenders and for clients in relation to banking transactions. Jeremy has recently acted for a number of clearing banks including Bank of Scotland, Royal Bank of Scotland, Allied Irish and Handelsbanken. Jeremy has also advised Sackville Properties Limited and Sackville Property Developments Limited on facilities granted to them by various banks for the funding of investment portfolios and property development.

Alex Illingworth, associate, has also acted for Bank of Scotland and Royal Bank of Scotland as well as advising many clients on banking documents. Alex has particular experience in the drafting and negotiation of facility letters, security document, inter-creditor and subordination documentation. In addition, Alex is in charge of the "know how" for the banking group and arranges regular talks on topical matters.