Despite fears to the contrary, the recent travails of the Scottish banks have not restricted the demand for specialist legal expertise in banking and finance from the profession in Scotland

At the height of the banking crisis, the future looked bleak for Scottish law firms’ relationships with their big institutional clients. With control and influence draining south and new regulatory pressure on debt finance, this major source of profitable work began to look to some like a thing of the past.

But these fears have proven to be largely unfounded, as a renewed focus on actively managing their loan books has prompted the banks to seek innovative legal approaches. On the other side of the fence, companies which would previously have relied on debt are likewise looking for innovative expert advice on restructuring or using the bond markets.

With a predicted liquidity crisis this year as more companies seek to refinance expiring loan agreements, lawyers will be called on to play a different and more creative role, one where a much higher value is placed on more strategic, advisory work.

The experience on offer in the Journal’s latest Who’s Who feature suggests that Scotland’s banking and finance lawyers are well capable of rising to the challenge.




t: 0131 260 5674

f: 0131 225 3642



Office locations: Advocates’ Library, Parliament House, Edinburgh

David Sellar QC

David has done company and insolvency work for more than 20 years. Much of his work is advisory, but also includes applications in relation to companies’ capital structures and banking and insurance transfer schemes, including all of the demutualisations of Scottish insurance companies since 1996.

Graham Maciver

Graham called in 2007 and has a varied civil practice. Since calling, he has been in a panel of counsel acting for various banks in unarranged overdraft cases. In the banking and personal finance field, he has also acted in consumer credit, security and data protection cases.

Hastie Stable

t: 0131 226 2881

f: 0131 225 3642



Office locations: Parliament House, Edinburgh

Michael P Howlin QC

Acted for Treasury in Heritage Bank rescue; BOS in Halifax merger; RBS in transfers of Direct Line and other businesses. Advised major institutions on tier 2 capital, netting arrangements, cross-guarantees, discounting agreements, securities, and “British Eagle” rule. Cases include mortgage fraud (Bird v Bank of Scotland); guarantees (Heineken v RBS).


Anderson Strathern LLP

t: 0131 270 7700

f: 0131 270 7788



Office locations: Edinburgh, Glasgow, Aberdeen

Gillian Anderson, Partner

Gillian’s focus is on real estate finance. Dual qualified and recognised as a “leader in their field” by Chambers 2012 for real estate, Gillian leads a team providing advice to borrowers and lenders on finance and security documentation and the restructuring of facility and security arrangements, involving property-related assets.

Simon Brown, Partner

Head of Corporate at Anderson Strathern, Simon has many years’ experience acting for lenders and borrowers. In the last two years, he has been involved in transactions with an aggregate value circa £700 million, ranging from Loan Market Association syndicated lending facilities to the listing of receivables as quoted Eurobonds.

Biggart Baillie LLP

t: 0131 226 5541

f: 0131 226 2278



Office locations: Edinburgh, Glasgow

Grant Docherty, Partner

Grant is head of Biggart Baillie’s banking and finance team. He has built up more than 20 years’ experience in the banking and finance sector, working for well-known Hong Kong and Scottish commercial law firms and playing a key role in a range of high-profile international and cross-border transactions.

Geoff Stansfield, Partner

Geoff leads the retail estate finance team and has many years’ experience across various commercial property sectors. This includes advising institutional investors, private equity investors, banks and other lenders, insolvency practices dealing with distressed assets, and working closely with the BPRA team on a variety of commercial projects and sectors.

Brodies LLP

t: 0131 228 3777

f: 0131 228 3787



Office locations: Edinburgh, Edinburgh, Glasgow, Aberdeen, Brussels

Bruce Stephen, Partner

A recognised banking specialist, Bruce is both Scots law (1994) and English law (1997) qualified. He is the author of the Scottish chapter on Security over Receivables, an international handbook (published by Oxford University Press). Particular expertise in cross border securitisations and project/asset finance and derivative/netting/ISDA advice/ opinion work.

Peter Kelly

Peter acts for lenders and borrowers in real estate and leveraged finance transactions. Specialises in complex deals, particularly with an international dimension. Qualified in Scotland and England & Wales; identified as a ranked individual for banking and finance by Chambers. “His arrival will ‘drive the banking team further forwards’.” (Chambers)

bto solicitors

t: 0141 221 8012

f: 0141 221 7803



Office locations: Glasgow, Edinburgh

Nicolas McBride, Partner

Acts for high-profile lenders in property and development finance, secured lending matters and SIPP pension scheme funding. Advises regarding realisation of assets recovered under fixed and floating securities. Principal Scottish solicitor for boutique UK lender in property development finance. Advises in property aspects of bank-funded renewable energy schemes.

Patrice Fabien, Partner

Advises on all funding and lending matters, including bilateral loan agreements, syndicated loan agreements, refinancing and restated loan agreements, and lending transactions involving security trust structures, acting for lenders or borrowers in the affordable housing sector. Patrice also advises on joint ventures and the funding models appropriate in that context.

Jeremy Glen, Partner

Respected in field of corporate finance including reconstructions, takeovers, share repurchase programmes, corporate and commercial advice and corporate finance transactions.

Ralph Riddiough, Partner

Acts for companies, individuals and banks engaged in mainstream corporate deal activity, including M&A, private equity, project finance and insolvency-related deals and reorganisations. Also has niche expertise in acting for lenders to wind farm projects, including community based projects.

Burness LLP

t: 0131 473 6000

f: 0131 473 6006



Office locations: Edinburgh, Glasgow

Jonathan Heaney, Partner

Advises banks, corporates and private equity sponsors on all aspects of banking work, including leveraged transactions, real estate finance and funds finance. Recent significant transactions include Bluegem Capital Partners’ public-to-private acquisition of Liberty plc and the refinancing of European Commercial Real Estate Fund’s European property portfolio.

Scott Wilson, Partner

Background in corporate finance (equity and debt), but for some years has specialised in banking. Acts for a variety of funders and UK corporates, with particular expertise in the areas of real estate finance and capital projects. Member of the Banking Law Subcommittee of the Law Society of Scotland.

DLA Piper Scotland LLP

t: 0870 111 111

f: 0141 242 5555



Office locations: Edinburgh, Glasgow

David Morton, Partner

Head of DLA Piper’s Banking team in Scotland, David has considerable experience in corporate banking, particularly acquisition finance. Regularly advises the main banks in Scotland as well as corporate borrowers on banking matters, including refinancing and restructuring. Recognised by Chambers and Legal 500 directories as an expert in this field.

Stuart McMillan, Partner

Stuart is an experienced banking lawyer based in DLA Piper’s Edinburgh and Glasgow offices. He advises a wide range of banks and borrowers in project finance (including PFI/PPP and renewables), acquisition finance and real estate finance deals, frequently involving cross-border financing. Stuart is qualified in Scotland and England & Wales.

Dundas & Wilson CS LLP

t: 0131 228 8000

f: 0131 228 8888



Office locations: Edinburgh, London, Glasgow

Caryn Penley, Partner

Caryn has wide experience in all areas of corporate banking, acting for both lenders and borrowers. She has a particular focus on acquisition finance and property structured finance, acting principally for lenders on a syndicated, club and bilateral basis; and regularly manages multi-jurisdictional transactions involving various borrower vehicles.

Stephen Phillips, Partner

Stephen acts for both banks and borrowers and has been involved in funding of major capital projects. He has particular expertise in UK acquisitions, financings and restructurings and also advises on derivatives, acting for a range of banks and insurance companies, and has worked in-house for a major French bank.

Gillespie Macandrew

t: 0131 225 1677

f: 0131 225 4519



Office locations: Edinburgh

Morag Radcliffe, Partner

Experience in banking and debt finance, particularly for public/third sector, property, hi-tech and energy, acting for lenders and borrowers (and as Scottish counsel for English and overseas firms) in syndicated/non-syndicated deals, acquisition, development, project and asset-backed finance. Currently involved in financing various energy (wind and hydro) projects.

Kenneth Irons, Partner

Experience in banking and debt finance, particularly property and energy, acting for lenders and borrowers (and as Scottish counsel for English and overseas firms) in syndicated/non-syndicated deals, acquisition, corporate, development, project and property finance. Currently involved in financing various property and energy projects (anaerobic digestion, hydro, EfW and wind).

Harper Macleod LLP

t: 0141 221 8888

f: 0141 226 4198



Office locations: Glasgow, Edinburgh, Inverness

Professor Lorne Crerar, Chairman

Scotland’s only Professor of Banking Law, Lorne recently independently reviewed the Lending Code, covering all personal and small business lending in the UK. He is author of leading text The Law of Banking in Scotland. Lorne was elected as a Fellow of the Institute of Bankers in Scotland in 1999.

Jonathan Steele, Partner

Jonathan was in-house counsel for one of Scotland’s largest banks and has invaluable insight into how large financial institutions operate. He advises on a range of banking and finance work, including debt reconstruction, cash flow finance, renewables finance, acquisition finance, real estate finance and cross-border transactions, both syndicated and bilateral.

HBJ Gateley

t: 0131 228 2400

f: 0131 222 9800



Office locations: Edinburgh, Glasgow, Birmingham, Leeds, Leicester, Manchester, Nottingham, London and Dubai

Tom Speirs, Banking Partner

Tom specialises in banking and finance work acting for major UK and European banks, and many borrowers, on transactional and advisory work. Tom has worked on a number of corporate and banking projects with a broad range of capital values. He has an interest in the housing and healthcare sectors.

David Kirchin, Partner and Head of Banking

David is a transactional lawyer with expertise in corporate and banking work, which includes corporate banking and acquisition and property finance. David has worked with all of the UK’s major banks on a large number of corporate and banking projects with a range of capital values up to £500 million.

McClure Naismith LLP

t: 0141 207 2700

f:0141 248 3998



Office locations: Glasgow, Edinburgh, London

Paul Kenneth, Partner

Paul specialises in advising UK and foreign lenders on finance and security documentation in relation to property finance transactions across all industry sectors. Paul’s recent work includes security reviews and restructuring loans and securities. He advises lenders and insolvency practitioners in connection with the sale by them of secured property.

Mark Parkhouse, Partner

Mark is well known for handling both bank and borrower-led debt restructurings and for advising on cross-border and domestic turnaround and recovery work. Mark’s recent experience has included international recovery matters, asset sales, bond restructuring and structured wind-downs.

Maclay Murray & Spens LLP

t: 0141 248 5011

f: 0141 248 5819



Office locations: Glasgow, Edinburgh, Aberdeen, London

Susan Kelly, Partner

Susan joined MMS in 1991 and was assumed as a partner in 1998. She leads the banking and finance department, handling a range of work across the UK and Europe, including acquisition finance, property finance, plc/corporate lending and Pan-European finance. Member of the partnership board.

Chris Dun, Partner

Dual qualified banking and finance lawyer, his practice focuses on development and investment property finance, social housing finance, education finance, project finance and structured finance/securitisation. Regularly acts for lenders and borrowers across the UK. Described in the leading directories as “very approachable, personable, responsive and thorough”. Regular speaker and writer.

MacRoberts LLP

t: 0141 303 1100; 0131 229 5046

f: 0141 332 8886; 0131 229 5046



Office locations: Edinburgh, Glasgow

Norman Martin, Partner

Norman has expertise and wide experience in all aspects of finance and banking, acting for banks and others in financing transactions of all kinds. Excellent working relationships with banks and other financial institutions in Scotland and beyond, regularly advising on non-transactional banking and other finance matters, beyond his transactional work.

John Crawford, Partner

John is experienced in advising on property and property finance aspects of banking and corporate transactions. Wide experience of security transactions, acting for banks/financial institutions/borrower clients re all types of commercial property. Specialises in transactions involving licensed/leisure property, regularly advising banks/other institutions re taking security over these property types.

Morton Fraser LLP

t: 0131 247 1000

f: 0131 247 1007



Office locations: Edinburgh, Glasgow, London

Susan Younger, Partner

Head of corporate and commercial division, and banking and finance teams. Many years’ commercial property experience. Specialises in property lending. Clients have included plcs, financial institutions and local authorities. Acts for lenders and borrowers in all transaction types. Expertise in the not-for-profit sector, including trusts, charities, clubs and credit unions.

Andrew Meakin, Partner

Acts for banks, financial institutions and borrowers on all types of debt and structured finance transactions throughout UK. Particular emphasis on corporate debt, real estate finance, social housing and local authority finance, and corporate debt restructuring. Advises English and overseas legal firms on Scottish aspects of international transactions and securitisations.

Semple Fraser LLP

t: 0141 221 3771

f: 0141 221 3776



Office locations: Glasgow, Edinburgh, Manchester

Alex Innes, Partner

Head of finance and qualified in both Scots and English law, Alex combines experience of real estate, corporate and banking to advise on corporate real estate structures. Experience in advising UK clearing banks and other financial institutions on various types of facilities (including syndicated facilities and equity investments), and securities.

Douglas Gourlay, Director

Douglas is qualified in both Scots and English law and has many years’ experience of property finance, project finance and general banking law. Douglas advises banks and other financial institutions on all types of general banking, syndicated loan and property finance transactions, having extensive experience of funding complex tax-driven structures.

Shepherd and Wedderburn LLP

t: 0131 228 9900

f: 0131 228 1222



Office locations: Edinburgh, Glasgow, London, Aberdeen

Andrew Kinnes, Partner

Andrew specialises in banking and securitisation, acting for a wide range of clients. He has also recently been involved in a number of high-profile workouts. Chambers 2011 comments: “Andrew has an encyclopaedic knowledge of the law, he is extremely strong technically and his enthusiasm is quite infectious.”

Patrick Bell, Partner

Patrick specialises in banking, with a particular focus on project finance (including renewable energy) and restructuring transactions. Patrick’s clients include a number of commercial and investment banks as well as corporates. He is adept at dealing with cross-border issues, having worked overseas in both Singapore and Poland.

Tods Murray LLP

t: 0131 656 2071

f: 0131 656 2020



Office locations: Edinburgh, Glasgow

Graham Burnside, Partner

Chairman and head of banking department Age: 57. Qualifications: LLB, WS. Career history: qualified, Dundas & Wilson, 1978; solicitor, British Coal/Coal Industry Pension Fund; joined Tods Murray, 1983; partner, 1984. Recent deals: acting for Santander UK plc in relation to its €35 billion covered bond programme.

Roddy MacLennan, Partner

Partner, Banking department. Age: 53. Joined Tods Murray 1986; partner 1989. Recent deals: refinancing of St James Shopping Centre, Edinburgh, for Bayerische Landesbank; refinancing of Hillington Business Park, Glasgow, for Eurohypo AG, London Branch; series of bond issues for Goldman Sachs and HSBC in respect of portfolios of Tesco supermarkets.

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