With extensive experience representing financial institutions and borrowers in a wide variety of transactions, our attorneys are capable of providing guidance on cross-border transactions and financing and key trade finance instruments such as letters of credit, bills of lading and several other financing tools.
Our Banking and Financial Services Team has represented both financial institutions and business borrowers in international financing and business transactions. Our attorneys have extensive experience in structuring, negotiating and documenting cross-border financing and ancillary transactions–whether it’s a business in the United States with ventures overseas or a foreign entity doing business on our soil.
Our attorneys regularly provide advice to foreign lenders, businesses and their counsel on a variety of cross-border matters, including “doing-business” issues and the creation, perfection and enforcement of real and personal property liens in the U.S. We also regularly advise foreign lenders on loan workouts and enforcement, as well as bankruptcy matters based in the U.S. The close proximity of our Buffalo, NY office to Canada has allowed us to provide legal advice to several Canadian financial institutions in cross-border loan transactions.
In addition to working on behalf of lenders, our Banking and Financial Services Team works closely with our Corporate and Business Law and Land Use, Permitting and Zoning attorneys to help U.S. companies obtain financing outside the country. We do the same for foreign entities looking to obtain financing inside our borders.
As a member of LawExchange International, Phillips Lytle benefits from efficient and affordable access to legal firms throughout the world.
International trade is extremely complex. For many banks and financial institutions in the U.S. and abroad, our Banking and Financial Services Team provides much-needed clarity. We handle transactions involving the issuance of letters of credit; the advising, confirmation or transfer of letters of credit; and the preparation and negotiation of required documents.
In some situations, the receivables created in a trade finance transaction are purchased by a factor or forfeiter. In other instances, export credit agencies, development banks or other third parties may facilitate the trade finance transaction by providing export loans, guarantees or credit insurance. Sometimes pre-export financing or inventory financing techniques are employed. Alternatively, a company may need advice on conducting global trade on an open account basis. Our attorneys have experience structuring, negotiating and documenting a full range of trade finance transactions that are utilized worldwide today.
Cross-border investments into the U.S. involving certain specified businesses, technologies, infrastructure or designated real estate transactions are subject to review and approval by U.S. authorities, such as the Committee on Foreign Investment in the United States (CFIUS). CFIUS has the authority to block or even unwind transactions that raise unresolved security concerns (qualified Canadian investors may be eligible for certain exemptions from some review requirements).
In addition, investment transactions involving certain investors, shareholders or entities may be blocked by the U.S. Department of the Treasury if linked to persons or companies under U.S. sanctions or appearing on certain lists maintained by the Office of Foreign Assets Control (OFAC). Phillips Lytle International Business Law attorneys regularly support the Cross-Border and Trade Finance Team in assisting clients in assessing exposure to such review and navigating these requirements where necessary. Our multidisciplinary approach includes guidance on preparing filings, engaging with authorities and negotiating mitigation strategies, and otherwise managing the compliance process to support and achieve client objectives.