| The Asset Based Lending team at Hammonds is the leading legal services provider to the
receivables financing and asset based lending industry in the UK. Led by the London team, we have
specialists throughout our UK and European offices. Their skills are complimented by those members
of the Banking & Finance and Business Recovery & Insolvency teams within the Finance Law
practice in each office.
We have unrivalled experience in drafting standard and bespoke documentation for factors,
discounters and asset based lenders which has survived challenges from liquidators and third
parties over the years. Our drafting remains the state of the art as we constantly analyse the
implications of changes in the law and commercial developments. Our unique knowledge of this market
means that we anticipate the need for continued creativity and development and we have pioneered
many of the new products used in this increasingly sophisticated and competitive market.
Our main areas of practice include:
- Acquisition finance.
- Commercial documentation.
- Product development.
- Structuring bespoke facilities.
- Restructuring as well as pre-take on and client management services.
- Debt recovery.
- Fraud prevention and cure.
- Guarantee and indemnifier actions.
- Mediation.
We have been at the forefront of the cross-border expansion of the receivables and asset based
lending industry. We act for a large number of UK, US and European financiers. With experts in our
European offices providing advice in their jurisdictions, we are able to eliminate potential
barriers to business.
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| Key facts |
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Edward Wilde was given the first ever "Lifetime Achievement Award" by the Factors and Discounters Association at the FDA Educational Foundation Awards in September 2004 |
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Demonstrated expertise in this field for over thirty years and currently act for over 90% of the UK's factors, discounters and asset based lenders. |
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We regularly deliver in-house training and seminars to our clients as well as key trade organisations such as the Factors and Discounters Association and International Factors Group on key topics affecting their market. |
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Clients include The Royal Bank of Scotland Commercial Services Limited, Lloyds TSB Commercial Finance Limited, GE Capital Commercial Finance Limited, GE Commercial Distribution Finance Europe Finance Limited, Bank of America, Barclays Bank Plc, Bibby Group of Factors, Venture Finance Plc, AIB Commercial Finance Limited and Close Invoice Finance Limited. |
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This team boasts "strong credentials and a real talent for handling pensions and asset-backed lending work." - Chambers & Partners 2009 |
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