Financial institutions

Financial institutions are facing unprecedented challenges in the aftermath of the credit crisis and the global recession. This is presenting itself in the form of continuing liquidity issues, shareholder and investor activism, more onerous capital adequacy requirements and an evolving regulatory regime which continuously demands better governance, transparency and accountability from institutions. At the same time national governments are considering further taxes on banks and restrictions on their trading activities, while the private equity industry is fearful of the impact which proposed European legislation will have on private equity assets under management in Europe.

At Lawrence Graham, we have an experienced team of lawyers who advise all industry participants, including banks, corporate finance houses, asset managers, fund administrators, insurance and reinsurance companies, Lloyd's Syndicates commodity and energy traders, nominated advisers, IFA umbrellas, financial advisers, mortgage brokers, insurance intermediaries, professional firms, international trust companies, retail and professional investment funds and individual directors.

Financial institutions

Our areas of expertise include:

• Establishing, structuring and re-organising investment funds and vehicles
• Tax efficient structuring
• Cross border trust structures
• Acquisitions, disposals and assignments of interests, assets and companies
• Takeovers (including reverse takeovers)
• Initial public offerings and secondary offerings on the London Stock Exchange Main Market and AIM, and dual listings on the world's major exchanges
• Private equity and venture capital raising (including seed capital and pre-IPO fund raising)
• Restructuring, reorganisations, turn-arounds, intra-group transfers, bankruptcy and insolvency
• Financial institution insurance including D&O and Fidelity
• Real estate investment and financing
• Debt and project finance
• Employment issues
• Pensions aspects of M&A, joint ventures, capital raising, restructuring, finance and insolvency
• Regulatory and corporate governance, including capital adequacy
• Domestic and international litigation and arbitration
• Fraud and asset tracing
• Non-marine, marine insurance and reinsurance coverage and avoidance disputes
• Establishment and management of captives
• Insurance exit strategies, run-off and legacy issues

Financial institutions

Our experience includes:

• Advising various banks on purchase of loan participations including A/B intercreditor arrangements (including with Citibank,Barcap, Bear Stearns, Credit Suisse and RBS)
• Advising on the financing aspects of the sale of the London Mortgage Company to Lehmans (total consideration in excess of £1.6 billion) and on the proposed acquisition of the Kensington Mortgage Company
• Advising Noteholders in a landmark case in relation to a US$12.5 billion Lehman CDO programme and establishing noteholder priority in favour of our clients before the English High Court and Court of Appeal
• Advising in relation to a dispute with a major international bank in relation to a USD$2.5 billion repo portfolio and set-off claims under foreign exchange contracts
• Advising reinsurer interest in the London market in virtually all major market-wide issues in recent years
• Advising Pacific Alliance Asia Opportunity Fund Limited, a fund with a combined net asset value of US$1.25 billion, on a reconstruction and tender offer on AIM

Financial institutions

"Various sources commend Richard Everett of Lawrence Graham LLP for his extensive knowledge of the internal workings of the FSA, where he worked before joining Lawrence Graham. Client money and asset issues are a particular forte." - Chambers UK 2013

"Sources note that Iain Shurwood of Lawrence Graham LLP 'takes the commercial view and is able to consider the bank's customers requirements and viewpoints when negotiating and discussing.'" - Chambers UK 2013

"Lawrence Graham has notable expertise across regulatory, restructuring, structured finance and fraud work. It retains a conflict-light position, allowing it to act both in disputes between banks, and in disputes between banks and funds. Notable clients include Saad Group, Awal Bank and Eden Rock Capital Management." - Chambers UK

"Lawrence Graham LLP advised on the setting up of new financial services enterprises in the UK by overseas institutions, and saw increased contentious and payment services regulation work. Richard Everett has ‘first-class industry knowledge’." - The Legal 500 UK

"Providing ‘excellent partner-level support’, Lawrence Graham LLP’s core strengths [in investment funds] are real estate funds and closed-ended funds. Highlights included advising BlackRock Frontiers Investment Trust plc on its LSE placement and £95m fundraising. Other clients include Ruffer Investment Company, Cenkos Securities and Universities Superannuation Scheme. Nick Heather is ‘personable, has a deep commercial understanding of funds, provides creative solutions, is well connected in the industry, and provides excellent client management'." - The Legal 500 UK

"[In pensions] At Lawrence Graham LLP, Robert Smith ‘speaks authoritatively and provides pragmatic advice’; and Adam Bushby is ‘able to understand the issues in an instant’. Clients include Société Générale and Portsmouth Water. Up a tier in the dispute resolution table this year, the firm represented Bristol Port in the Pilots litigation." - The Legal 500 UK

"Lawrence Graham LLP’s team has ‘significant experience’, which was strengthened by the addition of Antony Woodhouse from Edwards Angell Palmer & Dodge UK LLP. Woodhouse has ‘in-depth Bermuda Form knowledge’, and ‘beneath his easy-going and self-deprecating manner, he is incredibly sharp and insightful’. David Breslin is an ‘excellent strategist’. Clients include Allianz, Canada Life and QBE." - The Legal 500 UK

"Lawrence Graham's [restructuring and insolvency team] has a great position in the mid-market; its ‘strong team’ is ‘excellent value for money’. The firm advised Hill Dickinson LLP on its purchase by way of a pre-pack administration of Halliwells’ Liverpool office and parts of its Sheffield office." - The Legal 500 UK

"This [investment funds] practice earns praise for being "very responsive, business-oriented and clear in advice." The team is especially known for its UCITS and listed funds expertise, and recently represented Ruffer Investment, a Guernsey-domiciled investment company, on its FTSE listing. Practice head Nick Heather is recommended for his ability to advise on AIM funds listings. He was part of the team that advised Cenkos Securities on the reverse takeover by Marwyn Capital I. John Reed has "a fresh approach and sees issues from a business perspective." He led on the £130 million fund-raising and LSE listing for BlackRock Frontiers Investment Trust." - Chambers UK