Chris Brierley
Head of the Banking and Finance practice consisting of six partners and 24 lawyers who specialise in the debt finance aspects of transactions. My key responsibility is to manage and drive development of the banking and finance practice.
Tel: +44 (0)870 733 0596
Email: chris_brierley@wragge.com
Services: Finance
Business sectors: Financial Services
Best brains in ...
Identifying the points that matter in a commercial negotiation; understanding the complex relationship between various aspects of transactions; awareness of the business environment in which the law operates.
Highlight of your career so far?
Advising a leading global bank as mandated lead arranger on a series of debt and equity financings of complex multi-jurisdictional groups, both through standard share purchases and through open offers by the Companies Act schemes of arrangement.
Most challenging job you've ever done?
Advising Nomura Plc on the multi-layered debt financing of the acquisition of Earls Court Olympia including a 60-step pre-acquisition reorganisation and a complex post-completion reorganisation including debt push-down.
What about outside the UK?
90% of the work we do has an international element. In the case of groups which are being acquired by our clients, customers or borrowers can have either sales, distribution or manufacturing operations in Europe, the Far East or the USA.
What's your definition of going the extra mile?
We operate in a very competitive environment and as such, client service is paramount and has to be consistent. In transactions that are stressful and involve unsociable hours the best service we can give our clients is advice that is tailored to the commercial context. It's crucial that we have an overall understanding of the deal, as well as the business, financial and commercial side, to free up the bank to focus on other areas. Part of this will also involve market understanding in the sectors where clients lend and where we have involved our own specialist departments to originate mandates for the banks.
Best example of a creative legal solution?
Part of our daily job is finding solutions to allow transactions to proceed and our clients' banks to fund. One particular issue was where our client bank was funding the receivables book of a vehicle solutions business. A component of the receivables was earmarked for the funder to the business that provided vehicle finance to the group. The vehicle funders took a priority assignment of the receivables ahead of our client bank which jeopardised our client bank's core security. We were able to devise a solution that made our client comfortable with the credit risk and allowed the customer to continue to operate with its separate vehicle funders.
When have you ever given a client a real competitive edge?
Market knowledge is an essential part of what we do and a key reason for banks instructing us. When we undertake a transaction for a bank we review all the commercial and financial due diligence to enable us to place the banking risk and legals in a real framework. A key example has been advising funders who lend against cashflow from entities based in overseas jurisdictions, identifying the risks that relate to those cashflows and the limitations on recovery in each of those countries.
What's been written or said about you that you're most proud of?
We have been dubbed a 'magic circle-style operation' that 'provides a cost-effective alternative to traditional City banking practices'. I've also been praised for 'intelligence and commerciality'.
'A class act,' this national practice 'offers a City-style operation' at more comfortable rates than its London rivals, reported clients. Its banking lawyers are 'experienced and commercial, a pleasure to work with'.
'One of the sharpest people in law but with a personable style about him' and 'as good as it gets'. He wins plaudits for his firm management of transactions: 'He knows when to fight and when not to - he will ensure that a sensible document will go out.'
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