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

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Investment Funds tombstones 2012 Tombstones of our most recent transactions 01 Feb 2012 DOWNLOAD PDF
Executive Entities The Executive Entity Bill will soon become law in the Bahamas. It will create a new type of structure for use in offshore wealth preservation structures. 25 Jan 2012 DOWNLOAD PDF
Financial Institutions LG and the financial institutions sector 14 Dec 2011 DOWNLOAD PDF
Legal advice for the insurance industry Insurance clients are very important to us: our work for the insurance sector accounts for over 20% of our business. 08 Dec 2011 DOWNLOAD PDF

Financial institutions

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LG has advised EIIB on its investment in Rasmala Holdings Limited Lawrence Graham has advised leading financial services company European Islamic Investment Bank Plc ("EIIB") on its US$21m investment in Rasmala Holdings Limited. Jan 2012 MORE
LG recruits partner Iain Shurwood to its Finance practice Iain Shurwood is to join LG's finance group from Squire Sanders Hammonds Oct 2011 MORE
Lawrence Graham advises on debt financing of £139m purchase of 19 storey City office by German fund manager LG advises on £139m purchase of 30 Crown Place, London Sep 2011 MORE
Lehman loses UK Supreme Court appeal as Justices unanimously uphold the supremacy of English law The UK Supreme Court has today unanimously dismissed an appeal by Lehman Brothers' bankruptcy estate following a legal battle with a group of Australian noteholders Jul 2011 MORE
LG advises international forestry investment company on $67 million placement and CISX listing LG has advised The Forest Company Limited in relation to its third private placement with a value of $67 million. Jun 2011 MORE
LG advises Brewin Dolphin on disposal of its corporate advisory and broking division LG has advised Brewin Dolphin on the disposal of its corporate advisory and broking division to N+1 Brewin. May 2011 MORE
Lawrence Graham advises on Dolphin Capital Investors $40m convertible bond issue The Investment Funds team at Lawrence Graham LLP ("LG"), the international business law firm, has advised existing client Dolphin Capital Investors Limited ("Dolphin") on the issue of US$40 million of convertible bonds. Mar 2011 MORE
Government aims to stop exodus from the UK with super-low rate of corporation tax for finance companies The Government has moved to encourage UK groups to remain in the country by permitting their overseas group treasury companies to be subject to a very low effective rate of UK tax Mar 2011 MORE

Financial institutions

"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’; Ron Burgess is ‘hugely knowledgeable and poised, and is excellent at playing different parties off against each other while calmly steering a case to victory’; 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’, Nick Bradley is ‘one of the best’. 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