England - London • Finance

Sullivan & Worcester LLP

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Sullivan & Worcester LLP has 'a dedicated team with depth of knowledge and they are great people to work with'. The firm is not only a key adviser to financial institutions, funds, corporate borrowers, agents and trustees, international and industry bodies on the full range of traditional trade finance instruments, but it is also a leading player in the development of digital banking in trade finance platforms. Geoffrey Wynne (who is 'the most experienced trade finance lawyer in the market'), the 'hugely knowledgeable, commercially aware' Simon Cook (who is 'super-attentive to clients, and commercial when needed'), Sam Fowler-Holmes (who is 'super-attentive to clients, and commercial when needed'), and Mark Norris  (who 'seeks to find solutions and understands that cost management is particularly important') are the lead partners. Managing associate Hannah Fearn and head of the UK insurance and disputes practices Marian Boyle are also key to the practice. Wynne recently assisted Lloyds Bank with the template structure for the UK’s first digital ‘promissory note’ purchase under the International Trade and Forfaiting Association’s (ITFA) Digital Negotiable Instrument initiative (DNI).

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • 'Mark Norris seeks to find solutions and understands that cost management is particularly important in the emerging markets.'

  • 'Dedicated team with depth of knowledge and great people to work with.'

  • 'Sam Fowler-Holmes - pays super attention to clients, and commercial when needed.'

  • 'Geoffrey Wynne and his team are very experienced in trade finance facilities, including receivables finance, supply chain finance, trade loans an inventory finance. Their fees are very competitive.'

  • 'Geoffrey Wynne is the most experienced trade finance lawyer in the market, with cutting-edge expertise in all kinds of working capital finance facilities. He is well supported by Sam Fowler-Homes an Hannah Fearn. Marian Boyle also provides great advice on insurance matters related to trade finance.'

  • ‘Simon Cook - hugely knowledgeable, commercially aware and able to give out good advice based on vast experience.’

  • ‘Very deep knowledge of trade finance products and the secondary market for trade finance.’

  • ‘Extremely commercially-minded and able to find pragmatic solutions to issues.’

  • 'Specialist knowledge in trade and export finance.'

  • ‘Well known and experienced in the trade finance market.’

Key clients

  • Lloyds Bank
  • Citibank
  • Deutsche Bank
  • Crown Agents Bank
  • J.P. Morgan
  • Santander
  • Rabobank
  • Bank of America
  • Skandinaviska Enskilda Banken AB
  • International Trade and Forfaiting Association (ITFA)
  • Bankers Association for Finance and Trade (BAFT)
  • Africa Global Trade Finance
  • Standard Bank
  • UK Export Finance (UKEF)
  • Nedbank CIB
  • Contracta UK
  • Iroko Securities Limited
  • Muse Finance

Work highlights

  • Advised Lloyds Bank on the template structure for what is described as the UK’s first digital ‘promissory note’ purchase, structured in this specific way. It represents the first transaction to use the International Trade and Forfaiting Association’s (ITFA) Digital Negotiable Instrument initiative (DNI) issued using Enigio’s solution trace; original.
  • Advised ITFA (the International Trade and Forfaiting Association), through its drafting committee, on the development and launch of the new Uniform Rules for Transferable Electronic Payment Obligations (URTEPO).
  • Advised BAFT and ITFA in relation to the publication of new Capital Requirements Regulation (CRR) opinions on the English and New York law Master Participation Agreements (MPAs) - for both the 2008 and 2019 English law versions of the MPAs as well as the New York 2019 version as updated for the recent LIBOR transition.

Lawyers

Hall of Fame

The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.

Geoffrey Wynne

Geoffrey Wynne

Hall of fameSullivan & Worcester LLP

Geoffrey Wynne is head of the Trade & Export Finance Group and Sullivan's London office. He has extensive experience in banking and finance, specifically corporate and international finance, trade and structured trade and commodity finance, electronic bank and digitising trade finance, structured finance, asset and project finance, syndicated lending, equipment leasing, workouts and financing restructuring, leveraged and management buy-outs and general commercial matters. Recognised as one of the leading trade finance lawyers globally, Geoff has advised extensively many of the major trade finance banks around the world on trade and commodity transactions in virtually every emerging market including CIS, Far East, India, Africa and Latin America. He has worked on many structured trade transactions covering such diverse commodities as oil, nickel, steel, tobacco, cocoa and coffee. The team which Geoff leads has won numerous awards and recognition for its work in the Trade and Export Finance industry. In 2021 the firm was named ‘GTR Law Firm of the Year for Innovation’, recognising the role the firm played during the initial stages of the pandemic in 2020 helping to ensure the trade finance industry was able to move to a secure digital environment from a legal perspective.

Leading individuals

Simon Cook

Sullivan & Worcester LLP

Simon Cook has experience in a wide variety of banking and finance transactions, including in particular in relation to structured trade finance, trade finance, project finance, invoice discounting facilities and borrowing-base facilities in Africa, the Middle East, Asia and the CIS. His work in the structured trade area covers a range of pre-export and prepayment financings acting for both lenders and borrowers notably in oil, telecoms, soft commodities and metals sectors with particular experience in Africa and the Middle East. Simon has worked and travelled extensively in Africa and the Middle East, having spent over three and a half years in Dubai. He has participated in a number of structured trade finance and project finance conferences and seminars throughout Europe, the Middle East and Africa, including speaking at conferences on PPP in South Africa; on project finance and structured trade finance at Afrexim's annual structured finance conferences in Egypt, Ghana, Zambia and South Africa; and at structured trade finance seminars and general finance in London, Paris, Lisbon, Geneva, Frankfurt, Amsterdam, South Africa, Zambia, Uganda, Ghana, Nairobi and Dubai.  

Sam Fowler-Holmes

Sam Fowler-Holmes

Sullivan & Worcester LLP

Sam Fowler-Holmes specialises in structured and unstructured trade, commodity and export finance, advising both financial institution and corporate clients on a range of financing products including pre-export financing, pre-payment financing, letter of credit and payment instrument facilities and working capital and borrowing base financings. He has extensive experience advising clients on a wide variety of supply-chain finance structures and has acted for electronic platform providers and platform participants. Sam regularly advises on risk distribution techniques, including funded and unfunded participations and standby letters of credit and demand guarantees, and on insurance-related issues. He has acted on matters in relation to numerous jurisdictions across mainland Europe, CIS, Africa, Asia and the Americas and in connection with a significant range of commodities including oil, gas, metals and soft commodities. Sam is a regular speaker at the Sullivan trade and export finance seminars and is a member of the International Trade and Forfaiting Association (ITFA) Emerging Leaders Committee.

Mark Norris

Sullivan & Worcester LLP

Mark's practice covers cross border inward investment, syndicated lending, structured export credit finance, structured trade and commodity finance, debt restructurings and asset finance. He has been recognised in The Legal 500 UK as "excelling" in structured export credit transactions and is praised for his "commercial and user-friendly approach." Mark advises on ESG financings including hospitals, clean energy and transportation, and advises on financial crime, modern slavery, bribery and corruption issues in connection with trade and export finance. He led Sullivan’s response to the UK Government's consultation on UK Export Finance (UKEF)'s anti-bribery and corruption policy, with many of his recommendations accepted by the UK Government. He has advised financial institutions, funds, corporate borrowers, agents and trustees, and national and supranational sovereign/quasi-sovereign organisations on award-winning finance transactions throughout Africa, Western, Central and Eastern Europe, Russia and the CIS and the Middle East. Mark has extensive sector experience in infrastructure financing across Africa including off-grid power, healthcare and transportation, and has lived and practised law in the Czech Republic (Prague), England (London), Germany (Düsseldorf and Frankfurt) and Russia (Moscow). Mark holds graduate and post-graduate degrees with honours from the London School of Economics.

Practice head

The lawyer(s) leading their teams.

Geoffrey Wynne, Simon Cook, Mark Norris, Sam Fowler-Holmes

Other key lawyers

Hannah Fearn, Marian Boyle, Daniela Barrdear