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Pitfalls with board resolutions authorising loan facilities

Christopher Boardman KC and Tom Beasley recently featured in LexisNexis Butterworths Journal of International Banking and Financial Law for their article on ‘Pitfalls with board resolutions authorising loan facilities’.

Directors sometimes express doubt as to what role a company’s board should play, once authority to negotiate and enter into a loan facility has been delegated to one or more of their number. If new terms are offered or circumstances change, which alter the suitability of the proposed finance, what can, or should the remaining directors do? In turn, what should the appointed director(s) do? This article explores some of the issues and considers how some pitfalls might be avoided.

Download the full article here.