Trade & Commodities Finance - wfw.com

• Advising a Middle Eastern bank on a £45m invoice discounting and letter of creditfacility for the financing of international trade in manufactured household goods• Advising Fortis Bank on a £120m secured working capital facility to a trader inpetroleum products• Advising a major French bank in an unusual High Court action brought to enforcethe bank’s security over goods in transit over which the bank had security for theapplicant’s payment obligation. The case involved an expedited trial againstowners, charterers and consignees during the court vacation and the detention ofthe vessel at sea whilst the bank’s claim was settled• Advising a major European bank in an action concerning the scope of the fraudexception under UCP 500 in respect of deferred payment credits. The case islikely to be a leading authority in this area• Acting for a large European multi-national involved in metals trading andmanufacture in its arbitration claim for more than US$100m arising from acollapsed trade financing deal which involved Islamic and traditional bank preexportfinancing• Advising the lender on a US$30m revolving credit facility, including FX, moneymarket and derivative products for a shipping company structured as a borrowingbase facility with security over trade receivables• Advising a shipping company in relation to forward freight agreements with aseries of financial institution counterparties• Advising Europe Arab Bank plc on a transactionally secured facility to an Englishcompany to finance trade in frozen fish and seafoodAFRICA7