"Commercial and wealth of invoice discounting experience"
Legal 500 2016
Chris is a Partner in the Banking, Restructuring & Insolvency team in the London office.
He joined Michelmores in 2012, and is dual-qualified, being a qualified solicitor in the UK, and a qualified Barrister and Solicitor in Nova Scotia, Canada.
Chris advises clients on all aspects of financial facilities, either for lenders or borrowers, and acts for finance houses, banks, trade financiers and their clients.
He has a great deal of trade finance, commercial lending and banking experience, having worked on a variety of financial transactions from supply chain finance, trade, finance, commercial, lending, syndicated lending and with particular experience of asset based lending.
Chris advises regularly on the structure of financial facilities, including syndicated, participated and/or multi-jurisdictional facilities, the security required to support them, documenting competing security interests, regularly working on variations to facilities and bespoke documentation, drafting entire suites of documents and assisting facilities to be structured and underwritten.
He has extensive experience of the rights of the parties within those facilities, what is considered 'market standard', and just as importantly, what is not. Having worked both in private practice and in house, he is acutely aware of the need for clients to receive useful, practical (and not just technically correct) legal advice. He is known for being constructive and assisting clients to reach their commercial objectives, getting swiftly to the heart of the issues and simplifying often complex problems in order that they can be resolved.
Chris is also an experienced litigator in debt, commercial and guarantor litigation having a wealth of experience of enforcing facilities, but also fraud containment and asset recovery both at a corporate and individual level. Due to the market conditions in the last five years, Chris is also experienced in unwinding facilities, in both solvent termination and following insolvency.
Chris has particular knowledge and experience of finance in the recruitment sector. He has advised the Asset Based Finance Association working party (including representatives from a multitude of banks and financiers) on issues faced in this sector, contributed to the publication "The APSCO Guide to the Recruitment Supply Chain 2012 - 2013" published by the Association of Professional Staffing Companies who Chris has also advised in respect of its members code of conduct. Chris is regarded as 'the' expert in this field.
- Advising on structure and security documentation for US$151m stand-by letter of credit facility to support a construction and development loan for Malaysian developer.
- Documenting supply chain finance facility operating in multiple jurisdictions and replacing existing syndicated banking facility of Euros 52M.
- Assisting with documenting a £36m receivables, P&M and inventory facility for a UK-based multinational business, to complement its banking lines in a £100m banking package.
- Advising on a £26m receivables and term loan facility to enable business expansion by acquisition, including funding of unbilled work in progress.
- Successful restructuring in a short time frame for a recruitment business after it had breached its existing facility, introducing new financiers and securing continued funding from its existing bankers, while financing was concluded.
- Documenting and securing a £2m loan facility secured over a stock of investment wines in a third party storage facility.
- Advising on US$65m trade finance facility, including a US$15m revolving loan facility.