Articles by author
Celestial v UniCredit: the Supreme Court decision and its ramifications
This article considers the decision of the Supreme Court in Celestial Aviation Services Limited v UniCredit Bank GmbH [2026] UKSC 10,1 looking at the court’s approach as a matter of law and the practical and commercial ramifications of the decision, on the world of trade finance in particular.
25 JUN 2026The continuing inviolability of standby letters of credit
In this article the authors consider whether the English courts’ recent prioritisation of the inviolability of standby letters of credit has led to outcomes that can be perceived to be unduly kind to beneficiaries.
27 JUN 2025Commodity finance: the complete security package
COVID-19 lockdowns have disrupted commodity transactions and consequential enhanced oversight of borrowers’ businesses has uncovered fraudulent activities. Of utmost importance to any lender in a commodity financing is that the commodity exists and has not been financed by another party. Against this backdrop, in this article, the authors describe a typical security package adopted by commodity financiers under an English law commodity financing.
1 MAY 2021Fraud in commodity finance: identification, mitigation and resolution
Show’d mastership in floating
1 SEP 2021I would if I could, but I can’t: the impact of sanctions on finance party interactions in typical debt-financing transactions
Recent events have thrown the spotlight on sanctions. Sanctions provisions in facilities agreements are frequently keenly negotiated, and most lenders have minimum requirements. We typically see lenders focus more on the activities of the obligor group and its business than on the other lenders and finance parties to the transaction. Accordingly, we anticipate many of our clients revisiting their sanctions policies and giving greater weight to mitigating risks associated with any party to a transaction becoming the subject of sanctions, not just members of the obligor group.
1 SEP 2022
