Provision of Legal Services for Advanced Manufacturing Funding and Security Documentation
Awarded 20 Sep 2022
About
Department for Business, Energy & Industrial Strategy awarded a contract to Eversheds Sutherland (International) LLP for legal services to support the writing of a short report.
The report covered reviewing existing finance documentation and council call option from an obligations and security release perspective, including potential insolvency concerns; reviewing and finalising deeds of release; considering and discussing security release and timeline; discussing and drafting loan agreement documents; drafting, negotiating and finalising documents taking security over land; reviewing and commenting on documentation for a scenario where the site is acquired for deferred consideration and leaseback to the company; comparing that scenario to other options in terms of risks and benefits; and considering the legality and deliverability of other options for deployment of funding to the company for an AMA process.
The contract value was AUD 57,000.
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