Our Asset Based Lending Team
Our team boasts talented, commercially minded advisors with wide ranging expertise and decades of experience of advising and representing both Banks and some of the largest ABLs in the industry. Both at local level in the North West and nationally. The team provides a broad range of legal and strategic advice at a flexible cost in relation to:
- invoice discounting;
- trade finance;
- stock finance;
- asset finance;
- cash flow lending;
- property finance;
- bridging finance;
- specialist finance – construction and contractual;
- and refinancing deals generally.
Our team offer a full range of services from the inception of an ABL’s relationship with its prospective clients through to its exit and/or recovery of its position including: advising on the factorability of and/or assisting in the risk analysis of a proposed lend and analysis of any underlying transaction, business structure or contractual documentation; ensuring the requisite security documentation is drafted and in place; any subsequent realisation of the security; all aspects of recovery of the underlying debtor ledger; or assets; actions under guarantees/ indemnities/warranties; commercial fraud and enforcement action generally.
Turner Parkinson is a member of The Asset Based Finance Association.
Headed by Ian Fitzpatrick with nearly 30 years’ experience of representing and advising ABL’s Ian and Lisa lead a strong team of lawyers who specialise in the recovery of client and client customer debt including breach of contract, fraud claims and fraud prevention; IP litigation; actions under PG’s, indemnities and fraud warranties; advice in relation to the interpretation and enforcement of terms of finance agreements and security documentation; emergency injunctive relief and search orders; worldwide freezing orders and asset recovery; advice in relation to structure/factorability of asset or debt; complex security issues; insolvency litigation; validation orders; complex debtor company litigation; recovery of large/bulk client ledgers, property finance litigation; defamation; and professional negligence advice.
Transactional overview and support, security appointments and realisations and exit strategies
The team provides transactional support and advice to ABL clients whether advancing funds against invoices, through asset finance or facilities secured on other assets. The team also has expertise in restructuring and corporate recovery and routinely advises ABLs on strategy and implementation in relation to financially distressed businesses and exit arrangements. The team is regularly involved in the acquisition or the sale of distressed businesses funded by ABLs. Their particular expertise lies in devising strategies, reviewing existing and new facilities, ensuring appropriate security is in place, negotiating deeds of priority, devising business structures, advising on enforcing security and reviewing restructuring options to protect the lenders position. The team advises and works closely with both the ABL, the management of the ABL’s prospect/lender client and if appropriate Insolvency Practitioners.
Corporate Banking Transactional Support and Advice
The corporate banking team advise a number of invoice financers and asset based lenders on a range of transactional matters. More particularly, the team have drafted and advised on lending and security terms utilised by ABL’s, notably in relation to asset finance, supplier/trade finance and invoice finance. The team also advise ABL’s on a regular basis where there are multiple secured lenders and where the team’s principal focus is to ensure that:
- Its ABL client obtained encumbered title in respect of any asset it is funding against;
- Its ability to be repaid by its customer is not prejudiced by multiple funding arrangements;
- Any security interests are appropriately ranked and protected; and
- Any other lending interests do not prevent the client from exercising appropriate rights of enforcement in the event of the customer’s breach.
Property finance document review, drafting and advice
The team has significant experience in advising banks and ABL’s in relation to property finance, reviews and advice on security documents, property transactions, providing Reports on Title and portfolio management and corporate support.
Debt Recovery/Pre-action recoveries
Specialising in fixed fee and flexible costing for: large-scale ABL client debtor ledger collect outs, undisputed debt, enforcement of judgments including by enforcement officers, Charging Orders, Attachment of Earnings and Third Party Debt Order; client debtor statutory demands, bankruptcy and winding up petitions; and a full pre-issue recovery service and analysis of debt. Considerable experience acting for ABL for many years.“
|Paul Jagger||Mark Bartliff||Dominique Boyle|
Our construction team work closely with the above ABL advisors in providing additional specialist support by advising on all forms of construction contracts, contractual terms and their enforceability. They also provide full advice and representation in relation to any adjudications or arbitrations that may impact on the underlining asset.
We act for the following clients: