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Legal warning: Trade finance in 2010
19 January 2010
Dickon Harris approaches the sharpest legal minds in Trade Finance to find out what to expect in 2010.
Read more:
[trade finance law]
[restructurings]
[Watson Farley Williams]
[Denton Wilde Sapte]
[Norton Rose]
Trade Finance asked the following four senior lawyers at leading trade finance law firms what to expect in 2010.:
Nick Grandage, partner at Denton Wilde Sapte
Celia Gardiner and Michael Kenny, partners at Watson Farley Williams
Jake Howard, senior associate at Norton Rose
Trade Finance: What lessons have been learnt from the various restructurings that have taken place last year?
DWS: "As a general response, always expect the unexpected. I think that trade and commodity finance structures have held up relatively well."
WFW: "Clearly that the lessons learned from restructurings go well beyond trade finance. The key issue which has marked this recession has been the fact that it was triggered by a banking crisis, and the finance market has had to adjust to a position in which the creditworthiness of lenders has become an issue. For example, we have...
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