Loan & Security Enforcement
Borrower default is an increasingly common feature of commercial lending. When it occurs, or is anticipated, it is vital to undertake a thorough review of the enforcement and recovery options available to the lender under the related loan documentation. Understanding these options is paramount to realising the lender’s security and enforcing its wider remedies against borrowers and third parties.
You can depend on our experienced dispute resolution team to take a highly robust and partner involved approach when dealing with security enforcement.
We have considerable experience, both domestic and international, in advising on enforcement matters across many asset classes ranging from ships and aircraft to oilfields and fine art. This experience is complemented by a broad experience of advising on the enforcement of underlying financial arrangements such as those relating to finance leases, receivables financing, trade financing, export financing and commodity financing.
As many projects have multi-tiered finance, presenting the various creditors with differing and potentially conflicting security and default protection options, our experience of inter-creditor issues arising as a result enables us to guide our clients towards the most effective commercial outcomes. With significant experience gained in more than one credit crisis, our security enforcement team draws on practical experience gained from domestic and international institutional insolvencies to guide clients to pragmatic solutions.
In addition to asset based security, corporate and personal guarantees can be a crucial element of the loan support package. We have particular experience in disputes relating to the enforcement of guarantees both in England and abroad (including financial institution unilateral undertakings).
We are delighted to work closely with you to develop your default monitoring and recovery procedures, including supporting your in-house training and helping to implement the most appropriate workout strategies. Where necessary, we draw on tried and tested relationships with other enforcement professionals, such as valuers, receivers, insolvency practitioners and lawyers in other jurisdictions to ensure that the whole exercise is managed smoothly and with maximum efficiency and return.
Representative Loan & Security Enforcement Work
Examples of our team’s loan & security enforcement experience include:
- Advised an Eastern European bank on the defence of a claim taken by the subsidiary of its clearing bank (acting on behalf of noteholders) under an alleged corporate guarantee.
- Advised several secured lenders and receivers in more than 700 commercial/buy-to-let/residential investment portfolio enforcement cases.
- Advised several lenders in recovering possession of commercial buy-to-let, and owner residence properties.
- Advised several lenders in connection with numerous multi-million pound settlements and court damages awards obtained against negligent property valuers.
- Advised several lenders on remediation of defective security and monitoring performance of panel solicitors.
Jack RabinowiczPartner Dispute Resolution
A specialist in commercial litigation and arbitration including commodities litigation, Jack has developed significant expertise and an international reputation in large and complex cases. His client base includes both UK and foreign clients, where the issues traverse several jurisdictions. His considerable success in this area has led to a number of overseas companies and institutions, financial services organisations and banks seeking his help in commodities and other complex commercial issues.
In addition to mainstream litigation through the court system, Jack is highly experienced in alternative dispute resolution techniques (ADR) including arbitration and mediation. These techniques have proved particularly effective in disputes in specialist areas where overseas assets have to be retrieved.
He has also advised on the domestic law implications (including enforcement) of both UK and international arbitrations.
Jack also has a specialism in the field of Education.
Jack is listed as a recommended lawyer in the Legal 500 2021 rankings.
- Advised a US client in relation to a commodities market manipulation.
- Advised a US client in respect of the market manipulation of LIBOR and EURIBOR.
- Advised an English client in relation to liability to an Icelandic Bank under a guarantee for over $400m.
- Advised an English client in relation to a multi-national arbitration relating to a disputed partnership over assets in Africa, Canada, the US, Israel and Europe relating to a claim in excess of $2bn.
- Advised a Cuban Bank in relation to the freezing of its assets in the UK pursuant to US Sanctions regime.
- Advised a middle Eastern client in relation to recoveries of monies paid by way of bribes and corruption.
- Advised a Russian client in respect of litigation in England, Russia, Cyprus, Latvia and the West Indies against his former partner.
Partner, Teacher Stern
Solicitor, Techer Stern
37-41 Bedford Row London WC1R 4JH United Kingdom