Financial Institutions &Financial Services

Receivables finance can provide businesses with liquidity while enabling finance providers to acquire or fund identifiable payment streams.

The legal structure needs to address the receivable itself and the underlying commercial relationship from which it arises. Eligibility, assignment, perfection, debtor notification or acknowledgement, collections, recourse, representations, credit events, disputes and the effect of amendments to the underlying contract can all be material.

Our experience with receivables purchase, discounting and assignment structures informs a practical approach to these issues, particularly where multinational businesses and international finance providers are involved.

Equipment and asset finance frequently sits alongside a sale, supply or service transaction. The finance documents therefore need to reflect how the asset is ordered, delivered, installed, accepted, warranted and paid for.

We support financing structures involving equipment acquisition, leasing, vendor finance and related commercial arrangements. Particular attention is given to title and risk, delivery and acceptance evidence, payment triggers, assignment rights, financing-partner roles, warranties and the relationship between the financing and underlying supply documents.

This capability is especially relevant where manufacturers or vendors use financing solutions to support customer access to significant equipment or technology.

Cross-border financing can involve different governing laws, multiple counterparties, local perfection requirements, tax considerations, currency and payment mechanics, regulatory issues and documentation executed in more than one jurisdiction.

Paraphoenix can advise on Nigerian-law and commercial aspects of these arrangements and coordinate with carefully selected independent local counsel where foreign law is relevant.

We focus on maintaining consistency between the principal finance documents, underlying commercial agreements, assignments, notices, acknowledgements and execution requirements.

Businesses increasingly integrate financing into the way customers acquire equipment, technology and services. This may involve relationships between manufacturers, vendors, banks, leasing companies, receivables purchasers and other finance providers.

We advise on the commercial and contractual structure of these partnerships, including roles and responsibilities, customer interfaces, funding mechanics, documentation, data, compliance, allocation of risk, termination and transition.

Where a business model may constitute a regulated financial service, payment service or other licensed activity, the regulatory perimeter should be assessed separately with appropriate specialist input.

Financial institutions and finance providers rely on software, cloud infrastructure, outsourced services, digital platforms, data and third-party technology providers.

Working with our Technology, Data & Digital practice, we support technology procurement, cloud and software agreements, outsourcing and managed services, data-processing arrangements, cybersecurity provisions, service levels, audit, incident management, continuity and exit.

The applicable regulatory requirements depend on the institution, activity, technology and relevant regulator. We therefore distinguish the commercial technology workstream from specialist prudential or licensing advice where required.

Financial-services businesses operate under significant regulatory and compliance expectations. Governance, customer or counterparty due diligence, beneficial ownership, AML/CFT, sanctions, anti-bribery, third-party risk, data and internal controls can all affect transactions and operations.

Working with our Regulatory, Compliance & Investigations practice, we advise on the legal and contractual dimensions of these risks, including risk assessment, due diligence, contractual controls, governance, investigations and remediation.

The applicable prudential, conduct, licensing, reporting and supervisory requirements depend on the type of institution and activity. Those requirements should be assessed against the current framework of the relevant regulator rather than generalised across the financial-services sector.

Financial institutions and finance businesses may pursue acquisitions, disposals, investments, joint ventures, strategic partnerships, technology transformations and new distribution or customer propositions.

We support the corporate and commercial dimensions of these transactions, including due diligence, transaction documentation, commercial arrangements, compliance interfaces, technology and data, financing and implementation.

Where specialist financial-regulatory approvals or securities-law advice is required, we coordinate that workstream with carefully selected independent local counsel and professional advisers.