We provide regulatory advice to a number of international and domestic financial institutions in connection with all areas of banking and financial legislation. The Group has particular competence in dealing with the Registrar of Banks, the Financial Services Board and the Exchange Control Department of the South African Reserve Bank.

As you would expect, the Group has acted on any number of significant bank lending transactions both internationally and locally. The Group is comfortable handling the documentation required in bank lending transactions as well as dealing with all regulatory issues (such as exchange control) and ancillary issues (such as tax).

The Group has a strong derivatives team which for a number of years has advised international and domestic financial institutions on all aspects of ISDA and ISMA agreements as they relate to South Africa. The derivatives team has been successfully involved in making representations to various industry bodies on behalf of financial institutions for the amendment of South African insolvency law insofar as it relates to post-insolvency set off and close-out netting.

Asset finance, structured finance and trade finance transactions usually involve a blend of structuring, tax, security and exchange control issues. Insofar as the question of security is concerned, there are several important differences between the types of security available under South African law (a Roman-Dutch common law system) and, the types of security available under English law and New York law. The Group has worked constructively on transactions to ensure that the gap is bridged and that the appropriate blend of security is provided. The Group has extensive experience in these transactions and has built up a body of expertise to resolve all issues that may arise.

Private equity is a fast growing discipline within the South African banking and finance sector and the Group regularly acts for providers of finance and management teams on transactions in this area. The complexities imposed by the Government’s BEE initiative and the Financial Services Charter comprise an additional layer of issues which need to be borne in mind when working on transactions of this type. The Group is at the forefront of developing innovative solutions to these problems and our contacts within the business community ensure that we are aware of commercial shifts in thinking and approach as they develop.

Finally, the Group has expertise in the areas of asset management and investment funds (we act for internationally recognised institutions and a number of smaller boutiques), securitisation and all types of internationally recognised forms of finance.

PROMINENT MATTERS:

• Standard Bank / Barclays Bank / Credit Card Joint Venture (R1.75 billion): advising Standard Bank in relation to all aspects of a credit card joint venture with Barclays Bank
  
  
• Deutsche Bank (R1 billion plus): advising Deutsche Bank in relation to a number of derivative trades with South African counterparties and products offered to the South African market
  
  
• Credit Suisse Financial Products (R1 billion plus): advising Credit Suisse Financial Products in relation to a number of structured finance transactions with South African counterparties
  
  
• Investec Bank (R30 million): advising Investec Bank in relation to a fixed property structured finance transaction
  
  
• EDC / SAA (R1.1 billion): advising the Canadian Export Development Corporation in relation to the refinancing of certain arrangements with SAA (having also advised on the original financings)
  
  
• Ovenstone / Standard Bank (US$5 million): advising the acquirers of certain fishing rights off Tristan Da Cunha in relation to their loan and security arrangements
  
  
• Standard Bank / Andisa (R50 million): advising in relation to the formation of Andisa Capital (Proprietary) Limited
  
  
• Pescanova / Novanam (Euros $7.5 million): advising in relation to security taken over Namibian fishing vessels
  
  
• Standard Bank / Liberty Group (R2 billion): advising on the merger of the assets management and wealth creation businesses to create Stanlib Limited
  
  
• MTN Nigeria Communications Limited (US$395 million): advising the lead international counsel on the South African aspects of the largest ever telecommunications financing transaction in Nigeria
  
  
• Professional Provident Society Insurance Company Limited (R70 billion): advising in relation to the formation and registration of a long-term insurance company and the restructuring of the group
  
  
• Standard Bank / Banking Council: advising on the amendments to section 60 of the Banks Act 1990 and making of representations to the South African Reserve Bank
  
  
• Bank of New York: advising on the establishment of a representative office in the Republic of South Africa