Our latest success story comes from Fisher Jeffries, a law firm affiliated with the ILN's Australian member, Gadens Lawyers, who enjoyed a fruitful referral relationship with the ILN's Clark Wilson LLP.
In August 2012, Fisher Jeffries, a South Australian law firm affiliated with the major Australian national firm Gadens Lawyers, received urgent instructions from two major Australian banks in relation to the provision of additional financial accommodation under an existing club facility agreement to a listed Australian corporate borrower group (Borrower Group).
The purpose of the additional financial accommodation was to enable the acquisition of all of the share capital in an existing Canadian company (Canadian Target) by the Borrower Group and, following completion of that acquisition, the amalgamation of the Canadian Target with the Borrower Group’s Canadian subsidiary (Canadian Subsidiary). Both the Canadian Target and the Canadian Subsidiary were incorporated in the Province of British Columbia, Canada. The additional financial accommodation was also proposed to be provided by the lenders in Canadian dollars.