We specialize in the structuring and preparation of a variety of financial arrangements and transactions for single or multi-currency denominated facilities for Nigerian and International Banks and on International Project and Development Finance for Private and International Finance Organisations and Export Credit Agencies.

Particular attention is given to the creation and perfection of securities for these financing arrangements. Considerable in-house expertise and experience has been amassed in this area of the law, equipping us to effectively represent the interests of either borrowers or lenders in these transactions. On the side of the lenders, members have at various times since the early eighties acted as Special Counsel for a variety of investment projects for the International Finance Corporation (an independent member of the World Bank Group) and the World’s largest source of direct project financing for private investments in developing countries. Members have acted in similar capacities for African Development Bank assisted projects, D.E.G, F.M.O and I.F.C these being the Danish, German, and Dutch government Development Finance Organisations, British Export Credits Guarantee Department, Merrill Lynch the World Bank, the Ship Acquisition and Building Fund, the Nigerian Export and Import Bank and Exim Bank.

Members of the Partnership have also been involved in the administration of corporate restructuring arising from insolvency or divestiture of shares or investments by Nigerian or foreign investors in Nigerian enterprises. Some interesting work done in this area include;

i. Acting for LRC International Plc of London in its divestiture from Sanitas (Nig) Ltd including managing the sale of Sanitas major assets at Ikeja, Lagos and Port Harcourt, Rivers State.

ii. Acting as Counsel to Ernst & Young (Chartered Accountants) of Singapore in the on-going series of litigation arising from the cross-border insolvency of Devon Industries Sdn Bhd of Singapore which has affected corporations based in Nigeria, Ghana and the Netherlands.

iii. Acting as Nigerian Counsel to Silos du Sud-Quest a member of the now moribund Donmeng Group of France in its divestment in a Nigerian Company in joint venture with the Ashamu Group. This involved advising the foreign lawyers of the Donmeng Group (including Richards Butler of London) on the Nigerian law aspects of the matter and divestiture strategies.

iv. Advising, negotiating and drafting local bank guarantee agreements for US Exim bank loan with state governments.

v. A partner has been appointed by Hallmark Bank Plc as its independent Legal Advisor in their ongoing merger and consolidation arrangements.

In respect of loan syndications, equipment leasing and asset financing members have represented reputable Nigerian and foreign financial institutions in the preparation and perfection of the appropriate loan agreement and security instruments. Worthy of mention are the multi-currency denominated facility for SCOA Nigeria Plc for the importation of CKD units for the local assembly of Peugeot pick-up trucks in respect of which First Bank of Nigeria Plc acted as lead Bank; Equipment Lease Facility for Cutix Plc provided by Centre- Point Merchant Bank, and the loan syndication for Farmex Ltd in respect of which Societe Generale Bank (Nigeria) Ltd acted as Agent Bank.