We act for banks and other ADIs, mortgage funds, private lenders, preferred equity providers, receivables financiers and other credit providers. Our work includes advising and documenting transactions, recoveries and enforcements, compliance and general advice.
We advise in respect of:
- Loan and facility documents including bilateral, syndicated and club transactions.
- Mortgages, general and specific security agreements, other personal property securities, guarantees and other securities.
- Priority arrangements, financier side deeds, right of entry deeds and other specialised security documents.
- Standard terms documents, credit policies and manuals, lending and securities procedures.
- Compliance, licencing and training including AML/CTF, Privacy Act, Credit Reporting, Australian Financial Services Licencing, Credit Licensing and National Credit Code compliance.
MORE FOR LENDERS AND FINANCIERS
- We act for small private lenders through to major banks. Our advice and services are tailored to meet the needs of our clients.
- We specialise in bespoke documentation. In particular, where financiers have specialised requirements or structuring (such as profit shares, etc.) we are able to assist and draft our documentation accordingly.
- We understand that not all transactions are the same and we document and carry out our work accordingly.
- In addition to acting in lending matters, we also assist financiers with recoveries and workouts. We are able to advise on best methods of recovering loans where borrowers are in default including receivership, mortgagee sales and enforcement against guarantors or borrowers.
- We have acted in significant receiverships, and when necessary we assist with enforcement of litigated outcomes.
- We can also assist financiers with compliance matters including AML/CTF, National Credit Code, Code of Banking Practice and other regulatory requirements.
- We have developed suits of documents for our clients ranging from consumer leading, peer to peer lending, receivables finance and other specialised lending products.
- We have experience in industries including agribusiness, mining services, pubs and clubs, receivables finance, medical, charitable and religious organisations, property investment and development.
- Members of the Hobson Legal team have acted for clients in thousands of transactions over a period of 20 years.
VIEW EXAMPLES OF RECENT WORK FOR LENDERS AND FINANCIERS
HIGH VALUE AND COMPLEX TRANSACTIONS
- Acting for major Australian banks in respect of property development transactions including residential unit developments, mixed use developments and flat land subdivisions ranging from eight to in excess of 600 lots. Providing advice on presale contacts, due diligence enquiries, preparation of loan and security documents and registration and perfection of securities.
- Acting for a major Australian bank in respect of numerous hotel and licenced premises transactions ranging in value from $500,000 to $35 million. Including advice and documentation in respect of security over poker machines and gaming licences.
- Acting for lead financier and syndicate in respect of syndicated loan of $165 million to real-estate investment trust including taking security over a major metropolitan shopping centre.
- Acting for a major Australian bank in restructure and redocumentation of facilities in excess of $100 million for significant agribusiness customer. Issues included taking security over diverse properties including feedlots, water rights and livestock.
ENFORCEMENT AND REALISATION OF SECURITY
- Acting for a foreign bank in respect of restructure and subsequent receivership of a significant property development project. This included negotiation of the restructured facility and priority arrangements in an attempt to overcome a decline in market conditions. Subsequent receivership of the project included extensive negotiations resulting in a development agreement with a national property developer and the ultimate sale of the developed lots by way of a mortgagee sale over a three-year period. Original projected value of the development was in excess of $400 million.
- Acting for a bank and receivers in a sale of a significant tourist resort including advice on contract terms, satisfaction of mortgagees’ and controllers’ obligations, “flipping” from receivership to mortgagee sale and dealing with subsequent secured creditors.
SPECIALISED SECURITIES AND OTHER TRANSACTIONS
- Acting for a US based acquirer of an Australian consumer lending business including undertaking due diligence of a loan portfolio for compliance with regulatory requirements. Advising on NCCPA licensing requirements.
- Preparation of customised documentation and manuals for a boutique receivables financier. Advising with respect to PPSA compliance and enforcement issues.
- Acting for a UK based receivables financier with respect to a US$100M facility provided to a parent of an international labour hire company specialising in energy and resources industry. The transaction required a transfer of Australian receivables to the UK based parent to then be dealt with under master facility. Issues included review of contracts, advising on ‘true sale’, duty minimisation and jurisdictional issues, control of cashflow etc.