An insight into the banking seat
Having spent my initial few months with the Real Estate team, I transferred into my first full seat, in the Banking and Insolvency team. During my Law degree and LPC, I had always gravitated towards debt financing law, so I was eager to become involved and put my knowledge into practice whilst deepening my understanding on the subject. From the beginning, I was actively involved in complex and interesting cases and with the team’s welcoming and supportive environment, I was able to experience the full range of exciting opportunities that the seat had to offer.
How would you define the team?
Banking and Insolvency is a distinctive team within Marriot Harrison, successfully blending two different practices of law into a hybrid seat. This crossover brought an exciting twist to my work as the frequent oscillation between banking and Insolvency allowed me to enhance my understanding of the law and the financial world. Within banking, I uncovered the more nuanced aspects of securitisation (security creation) and the financing implementation process through regularly being involved in the drafting of core documents, which were heavily debated. In contrast, insolvency encouraged me to evolve my research skills by immersing myself in case law and legislation to provide a bespoke solution to a distressed client’s situation. Ultimately, this allowed me to see the creation and subsequent enforcement of debt security which was an experience few law firms provide within a single seat.
Hands-on experience:
The team prioritised my development through applying their ethos of ‘learning by doing’, where I was consistently provided opportunities to be involved at the centre of fast-paced deals whilst being supported by my colleagues. This was keenly demonstrated by being provided the chance to take charge of finalising an Amendment and Waiver Letter which extended a loan repayment date. This required me to draft key provisions and negotiate the document directly with the Partner of the opposing solicitors. This resulted in the successful execution of the document and greatly enhanced my understanding of the precise wording required to achieve the client’s goals.
Furthermore, throughout my time in the seat, I was actively encouraged to participate in team discussions concerning client matters where I felt my opinion was valued and often incorporated into the consequential actions taken by the team. A recent example links to a transaction concerning a client wishing to take out US security. I was tasked with researching Delaware security documentation and understanding the federal and state legislation and its applications to our client’s position. With the support and approval from both the team and Partner, I produced and delivered an advice note which was sent directly to the client.
This underlines the unique level of responsibility and trust the team places in their trainees and the novel work that they provide which allows you to feel a sense of achievement through attaining client satisfaction.
Client Interaction
Finally, the seat’s experiences extended beyond client matters as it provided multiple occasions to improve my networking and client-facing skills. This was illustrated by the team allowing me to represent the firm by attending the LMA conference which is attended by active members of the Debt Finance industry. This allowed me to significantly enhance my knowledge of how a property finance transaction is structured, review the key contentious points of a Facility Agreement and broaden my commercial awareness through listening to different parties' predictions on future market dynamics. Moreover, this event and several others orchestrated by the team enabled me to network in professional environments where I was able to successfully form contacts with brokers, lenders and fellow solicitors.
Conclusion:
I thoroughly enjoyed every aspect of my time in the Banking and Insolvency team and would recommend anyone to get involved if the opportunity arises. The team’s inexhaustible knowledge and desire to see their trainees develop ensures that any young lawyer is in the best possible environment to learn and develop. The opportunity for me to be on the frontlines of deals and interacting with clients coupled with the team’s encouraging and friendly nature are testaments to the characteristics that make Marriott Harrison unique.
