With 30-plus years’ experience, we advise asset funders on the legal issues currently affecting the corporate and consumer sectors. We also support lenders in other areas, for instance, in response to COVID-19: the government’s borrowing scheme, the Corporate Governance and Insolvency Bill 2020 and furloughing staff.
Our global experience enables us to coordinate multijurisdictional advice on cross-border legal issues and litigation in Europe and the United States.
We also advise the Financial Conduct Authority, Finance and Leasing Association and Consumer Credit Trade Association.
Our recent experience includes:
- High Court decision in May 2020 concluding that an equipment lease with a maintained school is unenforceable as it is “borrowing,” but the lender is entitled to the market value of the rentals on the basis of unjust enrichment (possible appeal)
- High Court decision in May 2020 that a settlement agreement giving the debtor time to pay monies owed under a personal guarantee is not “credit” within the CCA (i.e., not a regulated agreement under the CCA) and is therefore enforceable
- Repayment of purchase price paid to supplier where supplier misrepresented payment of the deposit
- Obtaining a court order in Miami for the delivery of high-value cars exported without the lender’s consent
- Enforcement of improperly executed credit agreements, where the requirements for the High Net Worth exemption were not complied with
- Disputing a seller’s lien under the Sale of Goods Act for the unpaid deposit, despite the seller having represented that the deposit had been paid
- Compliance with the Senior Managers and Certification Regime and residual aspects of the Approved Persons Regime
- Financial promotions, including compliance with CONC for credit-related promotions
- Compliance, including GDPR and the Money Laundering Directives
- Launch of new credit and finance products, existing product reviews and the launch of online platforms
- Preparing and submitting applications to the FCA for permission, variation of permission and authorization under Part 4A and breach notifications
- Advising on complaint-handling processes and dealing with thematic volume complaint issues
- CRD IV remuneration issues, defending bonus claims, and disciplinary and grievance issues involving whistleblowing and other regulatory issues