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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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