Our Banking Service
Our banking lawyers are highly experienced in acting for both lenders and corporate and individual borrowers on a range of transactions, including:
- Real estate finance – we act for both borrowers and lenders (ranging from specialist financiers, peer-to-peer lenders, short-term bridging lenders and private lenders) in relation to secured loan facilities, development funding, revolving credit facilities and associated security suites over commercial, residential and mixed-used property portfolios.
- Acquisition finance – we act for purchasers and lenders seeking and providing loan facilities for the specific purpose of acquiring a corporate entity, be it a trade acquisition or a management buyout, or as part a private equity or venture capital investment.
- Asset-based lending – we act for borrowers and lenders who use assets other than real estate as security for loan arrangements.
- International banking support – we provide assistance on the UK based elements of overseas banking arrangements, including accession arrangements, the amendment and restatement of existing loan facilities and the taking of security over UK corporate assets, real estate and other assets.
- Support on the regulatory aspects of lending especially for specialist financiers, peer-to-peer lenders, short-term bridging lenders and private lenders.
Our experience together with our commitment to developing a deep understanding of you and your business and sector enables us to provide a holistic approach ensuring that you receive the best possible advice and service.
Our Banking and Finance Law Experience
Bank of Dave (Burnley Savings and Loans Ltd)
This included advising on the original structure of a peer-to-peer lending service and documentation, the application of the Financial Services and Markets Act in relation to potentially regulated financial activities and financial promotion and changes to the law relating to peer-to-peer lending structures that arose when Article 36H came into force.
Chris subsequently assisted with the application by Burnley Savings and Loans Ltd for a deposit-taking licence. This included drafting customer-facing documents, advising and drafting governance arrangements such as the constitution of the asset and liabilities committee, reporting lines, recovery and resolution procedures and disaster recovery analysis advice, amongst others.
Chris was required to correspond and meet with the Prudential Regulation Authority and the Financial Conduct Authority on a regular basis during the process.
Residential Development Funding
Myerson acted for a developer in connection with a £30 million development funding facility with OakNorth Bank to construct a 270 unit residential scheme in the North West.
Residential Property Portfolio Refinancing
Myerson acted for a North American property investor in relation to a refinance of its property portfolio via Lloyds with a value in excess of £7 million.
Myerson were instructed by three UK entities forming part of a wider international group to provide banking advice on accession agreements with ING. The aggregate value of the facility was in excess of £39 million. Myerson worked closely with the advisors based in other European jurisdictions.
Convertible loan arrangements
Myerson acted for a North West based tech company that received in excess of £1.4 million of convertible loans across several tranches pursuant to the British Business Bank’s Future Fund scheme, which involved loans from the Future Fund, private equity and individual sophisticated investors.
Retail buy and build funding
Myerson advised a large retail group specialising in both B2B and B2C offerings in connection with various corporate acquisitions, as well as investment by a global private equity firm. The transactions have been financed by debt finance from a regional debt fund alongside private equity.
Myerson acted for multiple individuals in relation to the MBO of a Northwest-based company which included advising on the related banking and security arrangements relating to the rollover of an existing revolving credit facility, inter-creditor arrangements and the accession to the security of a newco acquisition vehicle.
Bank of Mum and Dad
Myerson regularly acts for individual borrowers and lenders, utilising loans from friends and family to fund property acquisitions. The loans provided are secured against the properties acquired and repaid either over time or upon a sale of the property in the future, often enabling first-time buyers to get onto the property ladder.
2 St Peter's Square Manchester
Myerson acted for the developer of the office and retail development now called 2 St Peter's Square Manchester from site assembly to the satisfactory completion of agreed works and the funding and the transfer of the development to an investment funder.
International Banking Support
We have extensive experience working with corporate groups that engage in international banking finance, providing assistance on the UK-based elements of overseas banking arrangements. We simplify the often complex legal and regulatory issues that arise in cross-border financial transactions to efficiently and effectively secure the desired outcome for our clients.
We act for lenders, borrowers, financial services providers, and large property portfolio owners across multiple jurisdictions.
Our international banking lawyers advise clients on the onshore aspects of overseas banking arrangements, including accession arrangements, the amendment and restatement of existing loan facilities and the taking of security over UK corporate assets, real estate and other assets.
Our recent experience includes:
- Our banking team acted for three UK entities forming part of a wider international group to provide banking advice on accession agreements with ING Bank. Under the re-financing arrangements, certain UK entities became additional borrowers whilst others became additional guarantors subject to security in the form of debentures and share charges. All three companies became bound by the terms of the facility agreement and an intercreditor agreement of the same date. This was the second such accession arrangement Myerson has assisted the wider group with. The aggregate value of the facility was in excess of £39 million. Myerson worked closely with advisors based in other jurisdictions including the Netherlands and Germany.
- International funding arrangements – Myerson advised an international home furnishings manufacturer on certain elements of its cross-group facility with Wells Fargo Bank. In particular, Myerson advised on the debt finance elements in connection with an acquisition, the release of security in connection with a sale of part of the business and the necessary UK consents and accession paperwork on the eventual sale of the entire group to a US private equity buyer.
Why Work With Myerson?
- Our firm comprises 29 partners and over 140 staff who are proud to have been recommended as ‘Top Tier’ by the independent directory of UK law firms, The Legal 500, which says: "Myerson are a big firm without being a big firm. Still have that personal touch, but with extensive knowledge of almost all sectors. My go-to firm for most things now."
- We are also praised for our ‘fantastic speed of response and constructive, helpful and pragmatic advice delivered by a team that clearly knows its stuff’.
- We were also proud to have been acknowledged as one of The Times Best Law Firms in both 2019 and 2022, being one of 200 firms nationally to be recognised by The Times for the quality of their legal services, placing us alongside a raft of Magic Circle, national and international law firms.
- Core members of our banking team are drawn from our Corporate and Real Estate teams, both of whom were awarded “Team of the Year” at the Manchester Legal Awards in 2021.
- Take a look at the Myerson Promise for further benefits of working with us here.
Meet Our Banking Solicitors
Home-grown or recruited from national, regional or City firms. Our corporate solicitors are experts in their fields and respected by their peers.
Mohammed Akeel Latif
Akeel is a Partner and Head of the Corporate Team
Chris is a Partner in our Corporate and Commercial Teams
Scott is a Partner in our Corporate Team
Joanne is a Partner and Head of our Commercial Property Team
Sarah is a Senior Associate in our Commercial Property Team
Ryan is a Senior Associate in our Corporate Team
Contact Myerson Solicitors
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