Asset based lending
Invoice finance and other forms of asset based lending have entered the mainstream of financial solutions helping businesses to grow and reach their full potential. However, these complex financial products require expert understanding which is where our specialist team of finance lawyers can help.
The world of asset based lending and invoice finance (ABL) can be complex, with risks and opportunities in equal measure. As one of the UK’s leading law firms for ABL, we understand these intricacies better than anyone.
We recognise that every ABL transaction is unique. That’s why we tailor our approach to you, providing bespoke solutions that perfectly align with your specific needs and objectives.
Our lawyers co-edit Salinger on Factoring, the authoritative text on the law and practice of invoice finance.
Who we work with
Our finance, dispute resolution and insolvency teams enjoy a national reputation for ABL work and serve as a trusted advisor to numerous banks, independent ABLs and alternative lenders.
Our experienced dispute resolution team advise ABL clients on disputes and recovery work including civil fraud claims, freezing orders, the enforcement of personal guarantees and indemnities. The team also deal with high value, complex discrete debt claims and high-volume debt recovery working with ABLs, their collection agents and appointed insolvency practitioners.
We can help with
We have decades of experience in drafting documentation for invoice financiers and other asset based lenders. We regularly review and update documentation so that it reflects modern methods of good industry practice.
Amongst other things we are experts in preparing:
- Factoring and invoice discounting agreements
- Domestic and export facilities
- Overpayment facilities
- Non-recourse (protection against bad debt) facilities
- Facilities for funding stock, plant & machinery and property
- Debentures, pledges, chattel mortgages, letters of credit
- Property charges for both commercial and residential
- “Back to back” financing agreements
- Loans (secured and unsecured)
- Waivers, acknowledgements, priorities, postponements
- Personal and corporate guarantees and indemnities
We offer the full range of registration services and regularly advise on:
- Registrations of debentures at Companies House
- Registrations at HM Land Registry
- Filings at the Bills of Sale Registry
As the market for financial products continues to evolve and develop we work with our clients to develop new products. We have advised on:
- Overpayments
- Funding for other asset classes
- Cross collateralized facilities
- Single debtor facilities
- Loans and equity participation
- Trade finance facilities
- Payroll services
- Collection services
- Data privacy
During the business lifecycle circumstances will change either for the better or the worse.
Amongst other things we advise on:
- Varying the terms of existing agreements and security
- New security
- Proposed refinancing
- Effect of changes in the client’s business
- Breach by the client and available remedies
Invoice financing is an important element in funding corporate and non-corporate transactions. We regularly act for invoice financiers who are assisting in the purchase of a business.
In these situations we know that speed is important. We are adept at spotting and dealing with relevant issues quickly. We have experience in:
- Reviewing and advising on transaction documentation
- Assessing potential risks
- Negotiating with other stakeholders on security arrangements
- Priority/intercreditor agreements
We have assisted many UK ABLs with issues of an international nature. We use a network of lawyers around the globe to advise on local laws to advise on issues such as:
- Advising on funding structures
- Identifying key legal and commercial issues
- Obtaining and interpreting legal opinions where necessary
- Managing local law filing and registration requirements
We can provide advice when selling or purchasing client portfolios, as well as the transfer of portfolios intra group. We regularly advise on:
- Undertaking due diligence on target portfolios
- Negotiation of sale and purchase agreements
- Novation, assignment, agency and management agreements
- Management of completion and post completion requirements
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Related services
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Our asset based lending experience
Advising a financier on an out of time debenture registration and the importance of ensuring security is enforceable.
Advising a funder with regards the termination of a number of facilities (circa £2,000,000).
Advising a financier in relation to a release, reassignment and termination where there was a refinance of the facility.
Assisting the financier with £6m refinance of a food and confectionary wholesaler.
Advised a financier client to help reduce their financial exposure from £17m to less than £3m with the balance being secured by property charges.
Recovered a debt in excess of £165,000 on behalf of an invoice financier from an environmental services company.
In excess of £82,000 collected for an ABL client, alongside the Administrator of a food wholesaler.
Acted for an ABL client, alongside the Administrator of a glazing company to recover in excess of £1.2 million.
Related thinking
End of the Ban on Assignment – Stop Press!
Funding partnerships and sole traders – do you need to register your agreement?
How conclusive is your conclusive evidence clause?
Property charges in support of commercial loans – do’s and don’ts
BHL v Leumi: important implications for the ABL industry
How enforceable are your contractual charges now?
How we made a difference
Awards and accreditations
Contact us
If you have a question or need advice, please let us know how we can help.
