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About the course
This course represents a deep dive into the documentation used in corporate loans, both bilateral and syndicated. Whilst the principal focus is on the loan agreement, the course also takes a careful look at the clauses in guarantees and the legal issues associated with term sheets, security structures, insolvency, and letters of comfort. The course aims to give practical guidance to lenders and borrowers with extensive use of illustrative examples, case precedents, and challenging exercises.
This course focuses on documentation used in corporate loans, both bilateral and syndicated, including security and guarantee documentation, and the implications of insolvency on the contractual rights of the senior creditors. Gain practical knowledge and an in depth understanding of:
- Negotiating loan documentation from both the financier and borrower perspectives
- The interpretation of various clauses under common law
- Enforceability issues and potential pitfalls in the drafting and negotiation of guarantees and letters of support
- Different types of securities including mortgages, pledges, liens, constructive trusts, fixed and floating charges, mortgage debentures, and security over property, shares and insurance assignments
- The implication of insolvency on the contractual rights of all parties involved
How You Will Learn
Be guided step-by-step through the various components of loan documentation
You will cover indicative offer letters, loan agreements, guarantees, letters of comfort, mortgage debentures (fixed and floating charges) plus security over other forms of asset, including property, shares and insurance assignments. The course is focused on giving practical guidance to lenders and borrowers with extensive use of illustrative examples, case precedents, and challenging exercises for the participants.
- Law and Jurisdiction - Common law differs substantially from Civil law. This first session addresses the operation of the law itself.
- Binding the Bank - This second session introduces how contract law works and the circumstances where the law can declare the loan is unenforceable because there is no contract (i.e. the lender loses the money).
- Key Clauses in Loan Agreements
- The Loan Agreement
- Working through the agreement
- The Agency Role – Syndicated Loans
- Letters of Support
- Security Agreements
- Principles of Insolvency Law
Richard obtained a law degree from Cambridge University and was called to the English Bar in 1976. Shortly thereafter he entered banking joining Chase Manhattan Bank where, for most of the 5 years service, he was a corporate relationship manager in London and New York. For the following 6 years ...
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