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International: In the know – Finding certainty in uncertain times – Part Two

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In brief

In the second part of this two part series… Baker McKenzie’s leveraged finance teams in London and New York consider available remedies under both English and New York law if commitments are not met.

Contents

In the first part of this series we set out the importance of funding certainty and examined how that certainty is created under both English and New York law governed documentation. We now consider what the consequences might be for a borrower should a lender choose not to fund under a commitment and what remedies might be available in such situation.

Click here to read Part 1.

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Author

Matthew is a Banking partner in Baker McKenzie's London office focusing on leveraged and acquisition financing and restructuring.

Author

Nick is a partner in the banking and finance team of Baker McKenzie. Nick is based in London and his experience includes a secondment to the Blackstone Group and to the Hong Kong office of his previous firm.

Author

Andrew Sagor is the Co-Chair of the Leveraged Finance Practice in North America and a partner in the Corporate & Securities Practice Group based in New York. Andrew mainly focuses his practice on structuring and negotiating market-shaping private equity and debt financing transactions. Andrew is a member of the Firm's Private Equity Steering Committee in North America.

Author

Nasri Ashkar is an associate in Baker McKenzie's Banking, Finance, and Major Projects practice in Chicago and is a member of the Restructuring & Insolvency Group. Prior to obtaining his JD and MBA degrees from Northwestern University School of Law and Northwestern University Kellogg School of Management, Mr. Ashkar worked for several years in investment banking in the Middle East, where he managed and advised on a broad variety of deals, including equity offerings, syndicated loans, project finance, infrastructure development, and Islamic bonds.

Author

Amit Parekh is a member of the Corporate & Securities Practice Group, based in the New York office. He advises on a broad range of corporate and transactional matters, including domestic and international acquisition and other debt financings, with an emphasis on leveraged loans and the public and private offering of corporate securities.

Author

Chen Tang is an associate in Baker McKenzie's New York office. She is a member of the Firm's Corporate & Securities Practice Group.

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