iLA provides independent legal advice for €11 million loan

By Bridging Loan Directory 29th July 2024

iLA has announced the lightning-fast provision of independent legal advice for an €11 million loan for a prestigious high-net-worth client.

iLA completed the independent legal advice requirement in just 24 hours, perfectly aligning with the client’s needs.

This achievement, driven by their unique position as the UK’s only law firm dedicated exclusively to independent legal advice (ILA), highlighted their exceptional expertise, seamless technological integrations, and remarkable turnaround times.

iLA’s extensive experience and specialised focus ensured that the Duke’s requirements were met swiftly and effectively, allowing the deal to be completed without a hitch.

Initially, there was a tricky issue regarding the Governing Law and Jurisdiction of the Guarantee, set to the Law of Guernsey due to the lender, Tenn Capital, being Guernsey-based.

This posed a significant problem because a UK lawyer could not provide the necessary advice, potentially causing delays.

However, iLA boldly challenged this position, successfully advocating for the security documents to be governed by the laws of England & Wales.

This crucial change allowed iLA to provide the necessary legal advice and ensured the deal moved forward without delay.

“We are immensely proud to have delivered such a crucial legal solution under tight deadlines,” said Luke Baldwin, Co-Founder & CFO at iLA.

“This achievement highlights our ability to support high-profile clients with exceptionally fast service, knowledge, and added value.”