The commercial department at Larken & Co frequently acts on behalf of self administered pension schemes. It is not unusual for such a scheme to purchase a property using pension funds (and some borrowed money) and then to create a lease of the property.
Pension funds have strict rules that need to be dealt with in such transactions. Making sure that all requirements of the pension fund (and any Bank) are dealt with whilst at the same time buying a property and creating a lease needs experience. At Larken & Co we are used to dealing with these complex transactions.
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Whenever a business needs to borrow money from a bank it will find itself faced with a lot of documentation from the bank. The bank will want to ensure any loan will be repaid by taking security. The security is most likely to be a charge over land or other assets (a legal charge or debenture), or a personal guarantee from a Director. However the bank could seek other forms of security as well.
When borrowing money from a bank you will need independent advice so that you fully understand the documents you are signing. We regularly deal with the security paperwork used by banks such as Barclays, National Westminster, HSBC and Lloyds TSB as well as some of the less well known names.
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It is perhaps understandable that the Banks and other financial institutions are cautious when lending money. Banks will frequently look for some form of security (eg a personal guarantee, a legal charge or debenture) but with this comes a lot of legal requirements. These are issues that Larken & Co deal with on a regular basis.
It may be that your business will deal with pension funds, in which case, yet more legal requirements will need to be dealt with. The following pages will help you decide who to contact for the best advice. |
Every business is vulnerable to slow paying customers and bad debts. Unpaid invoices are costly to a business. Many businesses spend a huge amount of time and resources on credit control but often some unpaid debts cannot be avoided.
The reality is that the majority of debts are paid upon receipt of a solicitor's letter or upon the issue of proceedings.
We will advise as to the quickest and most cost effective way of dealing with unpaid debts and as to how recovery can be maximised through our fixed fee debt recovery scheme.
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Business Finance
