Typically, there are two methods in which a creditor can protect itself against non-performance or insolvency of its debtor. The first which is commonly utilized is by taking security i.e. obtaining an interest over a specific asset through which a creditor can be paid in...
Insurance is the financial protection from contingent or uncertain loss. It includes a contract represented by a policy in which an entity or individual is reimbursed against losses such as bodily injury, loss or damage to property. Insurance encourages investment by minimizing funds or capital...
Setting up an entity in Nigeria is fast becoming less onerous given the Corporate Affairs Commission’s (CAC) concerted effort to ensure the ease of doing business is Nigeria is seamless. It is however pertinent to note that upon incorporation of a new entity, there are...
Tax is one of the major sources of revenue in Nigeria and it is administered by the three tiers of government namely; The Federal Government through the Federal Inland Revenue Service (FIRS) State Governments through the State Inland Revenue Service; and The Local Government Council...
Businesses often fail due to a lack of funding for growth in areas of operations, business equipment, marketing etc. Financing a business is often difficult for business owners as there are varying options available to capitalize or finance a company, each having its own nuances...
A Public Offering is an invitation to the general public to subscribe or purchase securities of a company. This takes the form of Initial Public Offering (IPO) & Subsequent Public Offering (SPO). Our main focus in this snippet will be on Initial Public Offering. An Initial...
When a person dies, their estate (assets) devolves on their survivors in the following order; spouse, children, parents, siblings, or extended family. However, where such person executes a Will before his death, the assets will be distributed according to the wishes of the deceased. This article...
This paper is a continuation of a previously published article setting out five key provisions of a Facility Agreement from a lender’s perspective. We have examined below five more clauses which are germane in protecting the interests of lenders in a syndicated loan facility agreement. ...
In our previous post on importance of Legal due diligence, we mentioned that a Due Diligence is the process of collecting, understanding and assessing all the risks associated with a transaction. It is an investigation into a business by reviewing documents, collating information and ascertaining...
A syndicated loan is one that is provided by a group of lenders and is structured, arranged, and administered by one or several commercial banks or investment banks known as lead arrangers. Syndicated loans arise when a project requires too large a loan for a single...