Following Sullivan’s recognition as a Leader in Trade for Innovation by Global Trade Review (GTR) for recent contributions to the digitalisation of trade finance, this is an opportune.
TXF provides news, high profile networking events, training and data intelligence service to the corporates, traders, financiers and deal makers that encompass the trade, commodity and export finance communities.
[co-author: Andrew Thompson]
At the latest Trade & Export Finance webinar, partners Geoffrey Wynne and Sam Fowler-Holmes delved into the topic of receivables financing. Given the manner in which COVID-19 has impacted businesses’ cash flow and supply chains, financing receivables has, perhaps unsurprisingly, accelerated over the past year. With the recent fallout of Greensill, the ideal opportunity arose to discuss the nature of receivables finance, the challenges facing the industry and key factors in mitigating risks and achieving the benefits the industry has to offer.
Key points from the webinar included:
Varying terminology
Financing receivables is a broad concept, and those interested may justifiably lose themselves in the varying terminology in this area. The Global Supply Chain Finance Forum (GSCFF) has provided helpful guidance, the “Standard Definitions for Techniques of Supply Chain Finance”, which aims to harmonise terminology to ensure a common understanding acr
Finance industry braces for post-Greensill backlash
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London | The supply-chain finance industry is bracing for the fallout from the dramatic implosion of high-flying Greensill, as regulators step up their scrutiny while investors and insurers reappraise the risks in the sometimes inscrutable sector.
Rival firms, lawyers and trade body leaders all expect to see rule changes that will force customers and their financiers to ramp up their disclosures, making it more obvious how much they are using supply-chain finance.
Lex Greensill’s business is being painted as an industry outlier.
Attila Csaszar
This is because existing accounting rules allow Greensill-style financial tools to obscure just how indebted a company is, and also what kind of debt risk the financier is carrying.
Law firm Sullivan has promoted Sam Fowler-Holmes to partner in its trade finance group.
After starting his career at Dentons, Fowler-Holmes joined Sullivan as an associate in 2013. He specialises in structured and unstructured trade, commodity and export finance, advising both financial institutions and corporate clients on a range of products including pre-export and prepayment financing, letter of credit and payment instrument facilities, and working capital and borrowing base financings.
Following his promotion, which takes immediate effect, he will work alongside partners Geoffrey Wynne, Simon Cook, Mark Norris and Marian Boyle in the firm’s London office.
Welcoming him to the role, Wynne, head of the London office and of the firm’s trade and finance practice, says: “I am delighted that Sam has been promoted to partner in London. He has broad experience and deep knowledge of trade and export finance, across all the key industries in this sector, and is a huge asset to ou