We understand that the arrangements you are putting in place with regard to banking, finance and security will be inextricably linked to the completion of your corporate or real estate transaction. We will guide you through what can be highly technical documentation, without losing sight of your commercial objectives.
We act in relation to all banking matters, including on acquisition finance for corporate transactions, asset-based lending or real estate finance. Our advice is primarily for entrepreneurs, high net worth individuals and owner-managed businesses, whether operating through SPVs (onshore or offshore), joint ventures, partnerships or fund structures. Whilst we often act for borrowers, we also act for lenders in this market, and in particular for a number of small banks.
We can help you to structure and negotiate effective lending arrangements and we offer a service which is tailored to suit your needs and the way you operate. We advise on investment and development facilities, tax driven schemes and limited partnership structures, restructurings and refinances. We also advise borrowers in connection with distressed debt and the analysis of options to move their business forward.
We work closely with our Real Estate team on the financing of real estate transactions whether in relation to development or investment facilities. Our priority is to put together a team of business advisers to allow consideration of all applicable financing options, to incorporate your preferred commercial terms, and to complete all relevant documentation within the planned timescale.
- Advising a borrower on its £25m acquisition finance relating to the purchase of a PRS portfolio (August 2021)
- Advising an alternative lender on its warehousing facility with a financial institution (August 2021)
- Advising a borrower on its £143m loan extension secured on super-prime property in London (July 2021)
- Acting for the lender in relation to a £1.1m loan for the purpose of purchasing a hotel in Norwich (May 2021)
- Acting for the borrower in relation to a £1.38m acquisition finance transaction in relation to the purchase of commercial property in North West London (May 2021)
- Acting for a residential investment company in connection with the restructuring of its intra-group facilities across fifteen of its group entities (April 2021)
- Acting for an alternative lender in relation to a development bridging facility secured on a mixed use development site on the South Coast (April 2021)
- Advising a developer on its £14m development facility for a mixed use scheme in London with an international bank (March 2021)
- Advising a lender on its loan-on-loan facilities with a UK challenger bank (February 2021)
- Advising a property development company in relation to its acquisition of a prime site in London for residential development (February 2021)
- Acting for an alternative lender in relation to the provision of working capital facilities secured on a portfolio of residential care homes owned by a private equity fund (February 2021)
- Acting for three offshore borrowers ultimately controlled by an Ultra High Net Worth family in relation to the £40m refinance of four super-prime properties in and around London (January 2021)
- Advising a Private Family Office on its £143m multi-currency facility with an alternative lender secured on luxury real estate assets in the US, UK and Europe (January 2021)
"I would like to thank Anthony for doing an incredible job over the last few weeks. I have rarely seen a lawyer work so hard for his client. You chaps are very lucky to have such a dedicated adviser!”
Latest blogs and news
In Part 1 of our two-part series on the Department for Business, Energy and Industrial Strategy's (BEIS) White Paper on audit and corporate governance reform (Restoring Trust in Audit and Corporate Governance), we focussed on whether the proposals regarding corporate governance are likely to make the UK a more or less attractive destination for investors.
Yesterday the FCA announced new rules, the majority of which come into force today (3 December 2021), which are intended to prevent smaller companies obtaining admissions to the Standard Segment of the Official List.
Potential reforms to UK data privacy laws will change the way that cookies work on websites - businesses need to prepare now.
AQSE is consulting the market about some changes to its rules relating to SPAC admissions.
Currently SPACs are eligible for admission to the Access segment of the AQSE growth market, as long as they have a minimum capitalisation of £700,000 and a free float of 10%. AQSE is concerned that this can result in a disorderly market and excessive volatility because a lack of liquidity arising from low market capitalisation and limited shareholder numbers.
We are pleased to announce that Matt Spencer has joined the firm as a partner to help build a new Tax practice. Matt joins from DAC Beachcroft where he has worked for the last 9 years. He advises on the efficient structuring of a wide range of corporate and real estate transactions including M&A, land transfers, developments and leases. He is also expert in employment tax issues and the structuring of employee incentive schemes as well as VAT issues in the public and private sector.
In 2012, as a recently elected MP, Kwasi Kwarteng co-authored “Britannia Unchained: Global Lessons for Growth and Properity”, a political pamphlet which championed risk-taking and innovation in the UK economy, and which ever since has led some to label him a fervent Brexiteer. Appointed as the Business Secretary in January 2021, only a few months later his department (BEIS) published one of the longest and most ambitious government White Papers in recent years.
The FCA has launched a consultation on a technical note setting out guidance for companies applying for listing which have cannabis-related businesses. As with all companies applying for listing, those with cannabis related businesses must be assessed for eligibility for listing under the Listing Rules. Because of the legal complexities around cannabis businesses the FCA applies additional due diligence requirements to them.
Following the release of the Hill Report, the FCA has moved quickly to consult on proposals intended to provide an alternative route to market for larger Special Purpose Acquisition Companies (“SPACs”). The broad proposal is that if a SPAC can meet additional investor protection requirements the FCA will not generally require that the listing of its shares be suspended once an acquisition is announced.
Following the release of the Hill Report at the start of last month, the FCA has announced that it is going to open a consultation into changing the Listing Rules and connected guidance with a view to encouraging the listing of Special Purpose Acquisition Vehicles (SPACs).
On 30 March 2021 the provisions of the Corporate Insolvency and Governance Act 2020 (“CIGA”) which allowed purely virtual general meetings will lapse, and the normal rules will apply. ICSA have produced some useful guidance to assist companies in dealing with their general meetings in the light of this change.
Following a request by the Department of Business, Energy and Industrial Strategy (“BEIS”) ICSA has prepared a report assessing the effectiveness of the independent board evaluation process introduced in the 2018 update of the UK Corporate Governance Code (the “UK Code”).
We have previously examined how the Government’s Coronavirus Business Interruption Loan Schemes (the Bounce Back Loan Scheme (BBLS), Coronavirus Business Interruption Loan Scheme (CBILS) and Coronavirus Large Business Interruption Loan Scheme (CLBILS)(together the “Schemes”) work. A report issued by the Public Accounts Committee on 10 December 2020 highlights the darker side of the Schemes and what it is costing the UK taxpayer.
Hot on the heels of its consultation on bringing cryptoasset inside the scope of the financial promotions regime at the tail end of last year, the FCA has launched a further consultation on the UK’s regulatory approach to cryptoassets and stablecoins.
Back in July Rishi Sunak requested a review of the current capital gains tax (CGT) system. The Office of Tax Simplification (OTS) was asked by Sunak to produce a report on whether certain features of CGT distort the behaviour of individuals.
Alex (tech), Andy (tech), Emer (investments) and I (investments) work alongside startups and founders day to day and thought it might to helpful to some of you out there to bring together our expertise on the legal issues that tend to arise and how we deal with them.
As the June quarter date fast approaches and the economic impact of COVID-19 begins to be felt across all sectors, what steps should landlords be taking to vary their lease arrangements with tenants who are unable to meet their rental obligations, and could a reduction in rental income due to COVID-19 put landlords in breach of their own obligations under their loan facilities?
In late April we blogged about the NHSX developing a contact tracing app to help stop the spread of coronavirus and highlighted some of the privacy concerns that will need to be considered in the course of its development. Unfortunately, at the time of writing, the app is still yet to be released nationwide, although a beta version is being trialled on the Isle of Wight and development continues. In this blog we provide an update on the proposed functionality of the app and the privacy issues caused by that functionality which are delaying its release.
This week the government announced a further loan scheme to help small and medium-sized businesses affected by coronavirus. In a reaction to the criticism received for the Coronavirus Business Interruption Loan Scheme (“CBILS”) and its implementation, the Bounce Bank Loan Scheme is promised as a simplified scheme which allows small and medium-sized businesses to borrow up to 25% of their turnover, capped at £50,000.
Since the start of the coronavirus outbreak, the UK government has launched a number of schemes offering financial support for businesses. This support includes the Coronavirus Job Retention Scheme, the Small Business Grant Fund, the Self-Employment Income Support Scheme and the Coronavirus Business Interruption Loan Scheme (“CBILS”).
This blog will explore the difficulties currently facing tech coworking spaces in light of the Covid-19 pandemic, how providers can keep tenants engaged and what the future may hold for these spaces. For an audio introduction to this topic, please listen to episode 7 of our Tech in Two Minutes podcast.