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By submitting an enquiry through 'get in touch' your data will only be used to contact you regarding your enquiry. If you would like to receive newsletters from Thomson Snell & Passmore please use the separate form below.

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  • Overview

    Matthew Grogan and Catherine Linsell acted on behalf of Paragon Development Finance Limited in connection with a £2.7m loan facility for the purposes of the acquisition by the borrower of an Essex-based development business (the Target). The Target owned a site in Essex (the Site) on which the borrower company (the Borrower) planned to erect nine new build terraced houses. 

    It was important to both Paragon and the Borrower that the Thomson Snell & Passmore team acted quickly to complete the lender’s due diligence since contracts for the purchase of the share capital of Developer had already been exchanged. There was, therefore, a deadline for completion which could not be extended.  

    There were some hurdles along the way, especially since during the due diligence process it became clear that the Site had access issues that may have prevented the planned development. The team worked alongside the lawyers acting for the Developer and the Borrower to secure a deed of easement which was curative of the issues discovered.

    Paragon Development Finance Limited expressed their thanks to the Thomson Snell & Passmore team for their continued help with the matter, especially in view of the timescales.  
     

  • Related Services

    Property finance

    Whether we are acting for the senior lender, mezzanine funder or the borrower we provide commercially focussed advice aimed at ensuring the deal is completed within the required time frames whilst still protecting our client’s interests. Our role is more than simply knowing the law, it is about applying our knowledge to the deal to get it done.

Get In Touch

By submitting an enquiry through 'get in touch' your data will only be used to contact you regarding your enquiry. If you would like to receive newsletters from Thomson Snell & Passmore please use the separate form below.

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