Our banking & finance team – both commercial and litigation – has more than 100 years’ combined experience advising asset based lenders, invoice financiers and alternative financiers on all aspects of the industry right through from client take on to recovery of any exposure upon client failure.
Our team is here for you not only at take-on or client failure, but throughout the life span of a facility.
There are any number of ways in which you will seek to amend, vary, enforce (or perhaps avoid) terms of your facility documentation and we can assist you to take the maximum benefit of the rights that your documentation affords you. This can be by way of:
Security reviews and facility amendments
Throughout the life span of a facility, a variety of different changes can occur, whether to your clients’ business models, in respect of their own growth expectations, or simply through the natural turnover of staff or the way in which the world affects any given industry or service. It is therefore unsurprising that the terms and conditions as agreed at take-on will, at some stage, become unfit for dealing with the facility that you then wish to operate.
- our team is on hand to conduct full security reviews of your entire suite of facility and security documentation to advise that it is all correctly executed and registered (where required) as well as to advise on whether it provides sufficient comfort for any perceived exposure; and
- we are also able to assist with any more complex amendments or variations to an existing set of facility and security documents to ensure that these are all executed properly and that they sufficiently reflect the required amendments.
We provide advice in relation to your clients’ own contractual documentation or (more often than not) where your clients agree to contract on the terms of their customers.
We can review the terms and conditions to identify any perceived risks or obvious dilutions to the debts you have purchased or are considering purchasing. We will then work with you to either identify alternative clauses to be implemented or solutions which might allow you to consider funding the debts with tighter controls in place or even to assist in explaining to your clients why you have chosen not to approve funding.
As you will know, not all difficult clients need to be placed into administration or have their facilities terminated.
There are ways and means by which you are able to work with them to bring a facility back into formula or continue to fund following an IBR and we are available to assist you in making sure that the process runs smoothly.
This may mean
- the provision of additional security; or
- the assistance in an IBR with an analysis of the underlying contractual documentation or sales ledger; or
- even in making it clear to a delinquent client what rights of enforcement you retain under your documentation and therefore that working with you rather than against you will achieve a far better outcome for all parties.
We will always work with you to find the most cost-effective and pragmatic solution to ensuring that your business continues to prosper.
Ad-hoc guidance and advice
We are also ideally placed to provide general advice to all our clients on the day-to-day operation of your facilities.
This need not only be where there are problematic clients in need of acute risk management
- sometimes a client manager may simply want to refresh their understanding of the effects of a certain provision of the agreement; or
- a recoveries manager may seek advice on whether it would be the right commercial decision to re-assign a problematic debt to a client, who is keen to litigate.
Whatever the issue, we have a wealth of experience and will most likely be able to provide a solution where one is required.
A member of the team will always be available on email or at the end of the telephone to answer our clients’ queries, however small or insignificant the client contact may perceive them to be.
As part of our dedicated client offering, we also offer our clients legal surgeries where any one of our team will be delighted to spend a day in a client’s offices, giving access to all to ask any questions they may want to run by us. More often than not, such queries will simply act as additional training for the clients’ operations teams, but it has been known to uncover more serious issues that we have then been able to assist our clients to remedy.
We have both the technical expertise and practical understanding of the day-to-day situations you come across and are always willing to provide our assistance where required.