Banking and finance in Scotland

Brodies LLP

Brodies LLP’s deep bench of banking specialists advises both lenders and borrowers on transactions at the top of the Scottish market. On the financing side, the firm handles a wide array of deals, from green finance, real estate finance, infrastructure finance and energy finance mandates to marine finance issues, for which Aberdeen’s Neal Richardson is the key contact. Head of banking Bruce Stephen is recommended for asset-based lending, receivables financing and derivatives work, while Michael Stoneham takes the lead on energy and infrastructure finance matters; and Chris Dun, who is dual-qualified, covers both investment and development finance issues. Jack Moir made partner in May 2020.

Practice head(s):

Bruce Stephen

Other key lawyers:

Chris Dun; Michael Stoneham; Peter Kelly; Alan Knowles; Marion MacInnes; Neal Richardson; Jack Moir


‘Efficient, reliable, on the front foot, friendly, reasonably priced.’

‘Neal Richardson is the main contact, friendly, efficient, commercial and overall a great service provided.’

‘Alan Knowles is technically excellent, and always responsive.’

‘Very approachable and easy-going. Feel like part of our internal team.’

‘Michael Stoneham is highly competent, practical, friendly and available when you need him.’

‘Brodies are very proactive and act with pace. I feel they also make sure the right people with the right capability and experience are involved to make sure transactions continue with no delays.’

‘Marion MacInnes is a trusted partner and is always available to offer advice or for a discussion. She listens carefully to her clients and I have always found her to be very engaging when working on deals. She is technically very good, proactive and looks to find solutions that work for all parties involved in a transaction, which is a welcome behaviour. Equally, she isn’t afraid to have difficult conversations if it is for the good of the deal and her customer. It is always a pleasure working with Marion.’

Key clients

Lloyds Banking Group/Bank of Scotland plc

NatWest Group

HSBC Bank Plc

Scottish Enterprise

Clydesdale Bank plc

DNB Bank

Cynergy Bank

West One Loans

City Facilities Management Holdings (UK) Limited

Work highlights

  • Advised Produce Investments on its bank refinancing with HSBC.
  • Advised Liberty Steel Group in relation to its joint venture investment in and financing of a new manufacturing capability at its aluminium smelting works and related hydro power plant at Lochaber in the Scottish Highlands.
  • Advised BREO Hermiston Unit Trust (real estate investment finance) on the financing of the acquisition of Hermiston Gait Retail Park in Edinburgh.

Burness Paull LLP

Burness Paull LLP acts for lenders and borrowers and often takes the lead role when counselling Scottish corporates on high-profile financings. Its client base includes City and US law firms, London-based private equity houses and international banks. The full-service banking team is based in Aberdeen, Edinburgh and Glasgow, and is headed up by Paula Kennedy. Jonathan Heaney specialises in corporate lending and real estate finance work, and John Kennedy is recommended for leveraged finance transactions in the oil and gas market. Dawn Reoch, who joined from CMS in May 2020, takes the lead on high-value international transactions.

Practice head(s):

Paula Kennedy

Other key lawyers:

Jonathan Heaney; John Kennedy; Dawn Reoch; Alan Cassels


‘The Burness Paull team had real stamina in supporting what became a longer  than anticipated progress. They kept going, no matter how many, twists and turns our project hit, and we got there’.

‘Solid, straight-talking advice and guidance that is focused on achieving the outcome’.

‘Burness Paull’s banking and finance team in Scotland is excellent, providing high quality, reliable advice’.

‘Always available, quick to respond and able to advise with confidence on any recent developments in the banking industry’.

‘I have worked with Dawn Reoch for close on ten years and have always found her to be exceptional.’

‘Highly skilled and qualified, with strong level of technology usage and expertise within the firm’.

‘We regularly work together and the team at Burness Paull is adept at functioning as an extension of our team to ensure the delivery of a seamless client service’.

Key clients

Santander UK plc

Ideagen plc

Tailwind Energy Ltd

Maven Capital Partners

Clydesdale Bank plc

ASCO Group

Three Hills Capital Partners

Lonsdale Capital Partners

Corrboard Bioenergy

KCA Deutag (Alpha)

Bancon Group

Royal Bank of Scotland plc

Bank of Scotland plc

Stewart Milne Group

i3 Energy plc

Bluegem Capital Partners plc

AgFe (Debt Fund)

The Harbro Group

Springfield Properties

Magnesium Capital


BNP Paribas

Work highlights

  • Acting as lead counsel for STV on the extension of its existing bank facilities to £80m.
  • Acting as lead counsel for ASCO on the refinancing of its existing credit facilities as part of the sale to Zander Topco, a consortium of investors.
  • Acting as lead counsel for Santander on the financing of the MBO of M–Squared Lasers.


With support from its international network, CMS handles cross-border transactions for borrowers and banks, covering all aspects of the debt finance market. Project finance specialist Gordon Hay heads up the practice and is particularly active in energy finance work. Caryn Miller and Stephen Phillips are both highly regarded in the market, with Miller focusing on corporate lending, acquisition finance and real estate finance mandates; and Phillips handling derivatives and securitisation issues. Jenny Allan specialises in innovative project finance deals and often advises on overseas energy projects.

Practice head(s):

Gordon Hay

Other key lawyers:

Caryn Miller; Stephen Phillips; Alan Fulton; Jenny Allan


‘The team are approachable, knowledgeable, and bring solutions, not problems’.

‘A really hard-working team determined to put the hours in for the client to get the transaction completed’.

‘Market knowledge is impressive’.

‘Very proactive in keeping up to date with our business and the people within it’.

‘They collaborate very well with their colleagues across different service lines and ensure excellent communication amongst all parties’.

‘Alan Fulton stands out as he has built excellent relationships with our team, and understands what our business needs’.

‘Alan Fulton is always very practical and ensures efficient decision making’.

‘Alan Fulton is an exceptional solicitor who makes the client feel comfortable and in very safe hands’.

Key clients

Barclays Bank plc

Royal Bank of Scotland

Close Brothers

Big Society Capital Limited

M Squared Lasers Limited

International Swaps and Derivatives Association Inc. (ISDA)

Clydesdale Bank PLC

Triodos Bank UK Limited

Santander Bank UK plc

Close Leasing Limited

HSBC UK Bank plc

Work highlights

  • Acted for Barclays Bank plc as agent in an amendment and extension of term and revolving credit facilities to July 2022 with the option of two further one-year extensions to Guernsey based SCP Estate Holdings Limited, owner of St Christopher’s Place in London.
  • Acted for the funder (Close Leasing Limited) on the financing of an £85m facility to Conrad Energy for the development of gas peaking power plants throughout the UK with a combined installed capacity of 180MW.
  • Acting for M Squared in relation to its multi-jurisdictional financing transaction involving (i) the strategic acquisition of a substantial part of business growth fund’s shareholding in M Squared funded by a debt facility provided by Santander UK Plc; and (ii) a growth capital investment by the Scottish National Investment Bank (through the Scottish Ministers). This comprised SNIB’s first investment.

Pinsent Masons LLP

Pinsent Masons LLP is well regarded in the Scottish market for its broad banking and financing expertise, which includes leveraged finance, real estate finance and project finance mandates. It is also active in more niche areas, including LIBOR transitions, bank structural reforms, central bank liquidity issues and derivatives work. Practice head John Maciver acts for lenders and borrowers, including private equity houses and debt funds. Aberdeen-based Richard Scott is recommended for acquisition finance and vessel finance work, while Gillian Frew handles energy and infrastructure finance matters.

Practice head(s):

John Maciver

Other key lawyers:

Michael Watson; Iain Macauley; Richard Scott; Gillian Frew


‘The Pinsent Masons banking team is one of the most knowledgeable and experienced in the Aberdeen market’.

‘Richard Scott is the banking partner we have most contact with – a hugely knowledgeable and highly experienced banking lawyer’.

‘The team is very well resourced with high quality people and they are always available to help as necessary. Partner availability is high.’

Key clients

AP Bristol Limited

Bricks Capital

Buchanan Wharf BTR Limited

Clydesdale Bank plc

Homes England

HSBC UK Bank plc

Legal & General Investment Management Limited

Lloyds Banking Group

NTR plc

Santander UK plc

The Bank of East Asia Limited

The Royal Bank of Scotland plc

The Silvertown Partnership LLP

The Trustees of the Mackays Stores Limited Retirement Benefits Scheme

Zennor Petroleum Limited


Work highlights

  • Advised NTR on the €370m refinancing of its 220MW onshore wind portfolio.
  • Advised a club of seven UK, US and Canadian lenders in relation to a facility increase to Centurion Group, a global leader in the supply of critical services to the energy industries.
  • Advised The Silvertown Partnership LLP on a term facility from Homes England for the development of a mixed-use site at Silvertown Quays, London.

Addleshaw Goddard

Addleshaw Goddard acts as lead counsel on major Scottish financings, and also handles the Scots law aspects of large international deals. Its broad expertise includes project finance, real estate development financing and asset-based lending mandates. Practice head Alan Shanks has considerable experience in acquisition and project finance work in the energy sector. Euan Cluness handles corporate lending issues, and Gaenor Cassell is recommended for borrower work for corporates and private equity funds, and cross-border securitisations. Catriona Smith is a key name in Aberdeen; she specialises in on- and offshore renewables financing work.

Practice head(s):

Alan Shanks

Other key lawyers:

Euan Cluness; Tom Speirs; Catriona Smith; Gaenor Cassell


‘The team have a depth of expertise in Scottish and English Law’.

‘We have found them to be knowledgeable, helpful and proactive, across various transactions’.

‘They are commercially minded but ensure that the bank is fully protected’.

‘Tom Speirs is our principal contact and he has ensured that we keep in touch and meet to develop the relationship, as well as staying actively involved during the times we have legal matters underway’.

‘The team at AG in Scotland are hugely collaborative when approaching both individual deals and the wider relationship with our bank locally’.

‘Euan Cluness has demonstrated consistently a depth of market knowledge and the ability to understand and negotiate issues through the lens of either borrower or lender’.

‘We appreciate the way that Euan Cluness cuts through a lot of the “legalese” and the interactions with borrower counsel to allow us to focus on the key risks associated with our positions’.

Key clients

The Royal Bank of Scotland plc

Venn Partners LLP

PNC Business Credit `

HSBC UK Bank plc

Shawbrook Bank PLC

Barclays Bank PLC

Commonwealth Bank of Australia

KanAm Grund

Clydesdale Bank plc

Lloyds Banking Group

Work highlights

  • Advised PNC on the refinancing of Simpsons Malt Limited.
  • Advised Deutsche Bank on the £300m refinancing of Drax.
  • Advised the Commonwealth Bank of Australia on the £85m refinancing of a windfarm portfolio.


Leveraging its international network, Dentons is well equipped to handle large international mandates for both borrower and lender clients. The practice has a broad spectrum of expertise, which includes handling acquisition finance issues, general lending work, renewables and project financings, real estate finance work, securitisations and structured finance matters. It has recently been advising a number of clients on the UK government’s Covid-19 lending schemes. Edinburgh-based Susan Kelly heads up the Scottish banking team and counts a number of large corporations on her client roster.

Practice head(s):

Susan Kelly

Other key lawyers:

James Wilson; Stuart Fitzsimmons


‘The team there are very efficient and we always receive an excellent service from them’.

‘They have shown themselves to be highly knowledgeable, reliable and willing to go the extra mile if required, as it sometimes is’.

‘I deal with Stuart Fitzsimmons, who has been extremely helpful, professional and has put himself out to get work done at times’.

‘Dentons have a national high quality range of legal services and are able to advise on asset-based lending advisory work in England as well as Scotland’.

‘They are proactive, operate at pace and have been fundamental in deal completions where I have engaged them.’

‘Stuart Fitzsimmons is a superb lawyer, easy to work with, proactive in expanding our relationship and an essential part of our deal teams when engaged’.

‘They have been incredibly effective in negotiations and on problem solving’.

‘They are very engaging, very responsive to queries and manage expectations around timescales, whilst ensuring they have the resources in place to deliver’.

Key clients

Aberdeen Standard Asia Focus plc

Murray Income Trust plc

KIC Inventories Limited

The Scottish Salmon Company Limited

Koomin Bank Co. Ltd, London Bank

Lochside Crescent Edinburgh Unit Trust



Sigma Capital Group

First Milk

Work highlights

  • Acted for the Lochside Crescent Edinburgh Unit Trust as borrower on a £87m loan agreement to part fund its acquisition of the Aegon Building in Edinburgh.
  • Advised Aberdeen Standard Asia Focus plc on its US private placement with MetLife.
  • Acted for a syndicate of six lenders (including Bank of Montreal) in connection with the acquisition pursuant to a plan of arrangement of Clearwater Seafoods Incorporated, a TSX listed company.

Shepherd and Wedderburn

Shepherd and Wedderburn handles both lender and borrower-side work and has recently seen a number of instructions relating to the Covid-19 pandemic, Brexit and the transition from LIBOR to risk-free rates. It is often instructed by Magic Circle and large US firms to handle the Scots law aspects of international finance deals. Fiona Buchanan leads the team and handles a broad range of banking matters, including corporate financing and refinancing work, real estate financing issues and structured cross-border debt capital markets financings. Andrew Kinnes focuses on asset-based lending and securitisation work, and Hamish Patrick is recommended for conventional corporate banking and regulatory matters.

Practice head(s):

Fiona Buchanan

Other key lawyers:

Andrew Kinnes; Hamish Patrick; Patrick Bell; Clare Foster; Rob MacLeod; Iain Wishart


‘Delivers commercial legal advice on a collaborative basis in a clear, concise way which can be understood by their audience’.

‘Andrew Kinnes has a wealth of commercial experience mixed with infectious enthusiasm making him a pleasure to work with’.

‘For me personally Iain Wishart stands out. Iain has a very personable nature, is thorough, responsive and communicates well, working to deadlines is second nature to Iain and I have not been let down or disappointed in this regard’.

‘I have found it very easy and productive to work with Iain Wishart and highly recommend Iain professionally’.

‘They are an incredibly personable team of people. They are great collaborators. They know our business. They are meticulous in their detail’.

Key clients

Virgin Money Group

Lloyds Banking Group

Blackstone Group

Nord LB

HSBC Bank plc

Santander UK plc

Scottish Enterprise

MUFG Bank, Ltd

Amber Infrastructure

FCE Bank plc

Atom Bank plc

Work highlights

  • Advised Atom Bank plc in Scotland on the issuance of £770m residential mortgage-backed notes, secured over properties in England, Wales and Scotland, by Elvet Mortgages 2020-1 plc.
  • Advised Neart na Gaoithe Offshore Wind Ltd (NNG) in Scotland on the multi-billion pound project financing of this 450MW offshore wind project and the equity divestment of 50% of the share capital in the project to Irish energy company ESB.
  • Advised Bank of Scotland plc in connection with the provision of UK Government-backed debt support of £26m by means of the Coronavirus Large Business Interruption Loan Scheme (CLBILS) for the UK business of retailer Charles Tyrwhitt.

Blackwood Partners LLP

Aberdeen-based Blackwood Partners LLP has niche expertise in private equity-related finance transactions, and also handles banking and finance matters in the energy services sector. The firm is appointed to a number of bank panels and has considerable experience in multi-jurisdictional deals. Scott Swankie leads the practice and is well known in the market for handling acquisition and leveraged finance work.

Practice head(s):

Scott Swankie

Other key lawyers:

Andrew Lyndon


‘Very personalised service, quick to respond and efficient at dealing with any issues’.

‘Scott Swankie has fantastic knowledge of the banking sector and gives great, no-nonsense advice’.

‘Scott Swankie is a stand out banking legal expert in Aberdeen’.

‘As well as extensive knowledge on banking law and documentation, Scott Swankie always fully understands the business and commercial aspects of a transaction, and always adopts a pragmatic approach to getting deals done’.

‘A partner-led approach with highly experienced lawyers who look to provide practical solutions’.

‘Scott Swankie is not only a good guy, he is a great lawyer who is solutions-based.’

‘Very strong individual capability built off many years of sector experience’.

Key clients

Ardyne Holdings Limited

Ashtead Technology Limited

Balmoral Group

Bank of Scotland

BlueWater Energy

Buckthorn Partners

Clydesdale Bank

Centurion Group

Coretrax Technology Limited

Maven Capital Partners

Royal Bank of Scotland

ROVOP Limited

SCF Partners

Seanamic Group

TWMA Group

Work highlights

  • Acted for SCF Partners, a Houston-headquartered private equity house, in relation to the banking and finance elements of its public to private acquisition of Score Group plc, a Peterhead-based, international oil service group.

DLA Piper

Under the leadership of David Morton, DLA Piper continues to act in a number of corporate banking matters in the Scottish market and internationally. The practice has experience across a range of sectors, including the hotel and leisure, healthcare and property development industries. Morton’s key areas of focus include acquisition and leveraged finance work, corporate lending issues, asset-based lending matters and real estate financings. Senior associate William Reid is recommended.

Practice head(s):

David Morton

Other key lawyers:

William Reid; Michael Urquhart


‘My team regularly engages DLA Piper to prepare bespoke facility agreements and associated documents for borrowers and other creditors’.

‘DLA are unfailingly responsive and professional in their advice’.

‘The DLA team always takes the call and always provides us with excellent advice drawn from their wealth of knowledge and experience’.

‘David Morton always makes himself available to us and will, without fail, takes time to explain in layman’s terms whatever legal issue we are asking about’.

‘The team consistently delivers excellent service and high-quality advice’.

‘We have had the pleasure of working with David Morton and his team for many years now and we cannot rate them highly enough’.

‘We benefit enormously from David Morton’s breadth and depth of knowledge, together with his deep connections in DLA both within the UK firm and internationally’.

 ‘In working with DLA, we know that we will receive the care and support needed to complete our deals’.

Key clients

Virgin Money (formerly Clydesdale Bank)

Lloyds Banking Group





Vespa Capital


Harrison Street

Tosca Debt Capital Fund

The Welsh Ministers

Work highlights

  • Acting for the Welsh Ministers in relation to the financing of the €500m project to expand sections 5 and 6 of the A465 highway in Wales.
  • Acting for Virgin Money (formerly the Clydesdale Bank PLC) on its financing to Nano Interactive Group Limited.
  • Advising Natixis in relation to the £380m green loan financing for the construction of the Kincardine floating offshore wind farm situated 15km offshore from the Scottish coast of Aberdeen.  

Harper Macleod LLP

The banking and finance team at Harper Macleod LLP is well placed to advise clients across Scotland, with offices in Inverness, Shetland, Elgin and the Central Belt. It has recently seen a number of instructions from large international banks relating to the Coronavirus Large Business Interruption Loan Scheme (CLBILS). Tony Cameron heads up the team and acts for lenders and borrowers on general corporate banking work, acquisition, real estate and project financings; receivables issues and restructurings.

Practice head(s):

Tony Cameron

Other key lawyers:

Jacqui Fraser; John Pringle


‘Jacqui Fraser is great – responsive, a problem-solver and gets the deal done’.

‘Good depth within the firm, reasonable pricing, a good experience all round’.

‘Tony Cameron works with clients collaboratively, providing a range of solutions allowing clients to make informed decisions’.

‘They are good value for money, responsive and very personable. I would not hesitate to recommend them’.

‘Tony Cameron is excellent; he is very responsive, makes himself available day and night, and really felt like part of the wider team’.

‘A real genuine interest and engagement with the client and we know that the team really care’.

‘‘We like the combination of technical ability, commerciality and sector knowledge that the team brings to our clients’.

‘Tony Cameron has a wealth of experience and is very personable to work with and very commercial in his execution’.

Key clients

Bank of Scotland plc/Lloyds Banking Group

Allied Irish Bank

Clydesdale Bank plc

Santander UK plc

HSBC UK Bank plc

Cynergy Bank

Bayerische Landesbank


Morrison Community Care Group

JST Ports and Logistics Ltd

Unity Trust Bank

M&Co Trading Limited

Speedcast International Limited


Ocean Farm Services Limited

Aberclay Limited

Work highlights

  • Advised M&Co Trading Limited  on a restructuring exercise involving the pre-pack administration and acquisition of the business and assets of the UK wide, Scottish-headquartered retail fashion chain M&Co.
  • Advising Speedcast in relation to its filing for Chapter 11 Bankruptcy in the US and its subsequent restructure, which has included two rounds of debtor-in-possession funding of $90m and $220m respectively, with a planned $500m equity investment from Centerbridge.
  • Advising Shetland-based aquaculture vessel services joint venture company Ocean Farm Services Limited in respect of the cross jurisdictional transaction relating to multimillion loan facilities made available to it to finance the acquisition of five vessels and the building of a new vessel.

MacRoberts LLP

Acting for borrowers and lenders, MacRoberts LLP handles domestic and international matters relating to corporate banking, real estate finance, development finance, asset-based lending and enforcement mandates. The practice is experienced in a broad range of sectors, with a particular focus on the healthcare, food and drink, and leisure industries. Practice head Norman Martin has over 25 years’ experience in the banking industry and manages key panel appointments for the firm.

Practice head(s):

Norman Martin

Other key lawyers:

John Crawford; Fiona Armour; Lisa Maguire


‘Its about getting the basics right and the banking team at MacRoberts provide an efficient service at a competitive cost’.

‘They work in partnership with us and take the time to get to know the individuals behind the transactions’.

‘Fiona Armour works well with our bank, ensuring that she understands what is important to us and working with the other parties involved to meet our expected completion dates’.

‘Fiona Armour is responsive and we are always clear at what stage the transaction is at and what still needs to happen’.

 ‘Very approachable and hugely consistent over my 10 years plus of dealings’.

‘MacRoberts’ banking and finance team provide an excellent, client-centric service and always put the client at the heart of their business’.

Key clients

HSBC UK Bank plc

Bank of Scotland plc & Lloyds Bank plc

The Royal Bank of Scotland plc

Santander UK plc

Handelsbanken plc

Signature Private Finance Limited

Together Energy Limited

Kilchoman Distillery Company Ltd

Apex Corporate Trustees (UK) Limited

Postcode Lottery

Work highlights

  • Acting for Together Energy Ltd (TEL) in relation to the provision of revolving credit facilities by Warrington Borough Council for the purpose of refinancing existing indebtedness to BP Gas Marketing Limited.
  • Acting on behalf of Kilchoman Distillery Company Ltd. in relation to a £10m asset-based lending agreement with HSBC Invoice Finance (UK) Limited.
  • Acting for HSBC in the refinance of Park’s Motor Group.

Morton Fraser

Under the joint leadership of asset finance specialist Beverley Wood and Andrew Meakin, who focuses on debt finance, Morton Fraser continues to act in a wide range of transactional matters across Scotland and further afield. It often handles the Scots law aspects of deals for large London and international firms. Areas of focus include debt restructurings, structured real estate financing work, securitisations and marine financing issues.

Practice head(s):

Andrew Meakin; Beverley Wood

Other key lawyers:

John Lunn

Key clients

ING Bank

Deutsche Bank


Bridging VAT Limited

Danske Bank

Allied Irish Banks (both UK and Ireland)

Asset Alliance

Cadence Bank

Ogilvie Group

Sumitomo Mitsui Trust & Banking Corporation

Work highlights

  • Advised on the £90m funding package for Empiric’s acquisition of three new student accommodation blocks in Scotland.
  • Advising DNB on Scottish elements of its C$900m financing of the Cooke Aquaculture group, which has a number of subsidiaries which operate fish farms in Scotland.
  • Advised Urban Logistics on the Scottish aspects of its £151m funding to assist with future asset acquisitions.


Shoosmiths continues to go from strength to strength, with the addition of new practice co-head Fiona Cameron, who joined from Brodies LLP at the start of 2020. Cameron jointly leads the team alongside Sheelagh Cooley, who acts for borrowers and lenders in relation to real estate finance matters. The practice handles local and national transactions, and has particular experience in leveraged finance and general corporate lending work.

Practice head(s):

Fiona Cameron; Sheelagh Cooley

Other key lawyers:

Liana Di Ciacca; Stuart Murray


‘Shoosmiths are a first class national firm of lawyers that enable us to engage in English and Scottish Legal matters’.

‘They have all round pedigree across all corporate legal services and as an organisation we use them regularly for existing client work and new business development’.

‘Fiona Cameron is incredibly experienced, commercial and effective’.

‘A diverse team, with numerous female partners and senior lawyers’.

‘I always find Fiona Cameron approachable and willing to discuss a transaction offering practical advice, recommendations and solutions’.

‘Fiona Cameron is able to have a commercial conversation applying the law to a particular commercial situation and not just quoting what the law is’.

‘Fiona Cameron has always been able to meet deadlines even when these are short-dated’.

Key clients

Kilmona Group Limited

ARP Properties

Sancus Gibraltar Limited

Ultimate Finance Limited

Astir Living Limited

Santander UK plc

Forest Garden Group Limited

Urbanite (Glasgow) Ltd

Work highlights

  • Advised Kilmona Group Limited in relation to a £100m refinance of its real estate assets.
  • Acted on behalf of Sancus in connection with the refinance of facilities of £11m provided in relation to a mixed-use development in central Scotland.
  • Acted for Santander in relation to facilities provided to its customer Bibliographic Data Services Limited, to carry out a share buy-back and restructure of its shareholding.

Anderson Strathern

Anderson Strathern has notable experience in real estate and energy finance work, and acts for borrower and lender clients. On the real estate side, the firm acts for institutional funders, corporate groups, property developers, charities, trusts and individuals. Gillian Anderson leads the team and often acts on the Scots law aspects of UK-wide and international deals for large London and regional law firms.

Practice head(s):

Gillian Anderson

Other key lawyers:

Euan Mellor; Nicholas Howie


‘Very responsive, they find the right balance between explaining commercial points vs legal points’.

‘Gillian Anderson has been very helpful, responsive, committed, gets the right balance of communication’.

Key clients

NatWest Group

Crown Estate Scotland

Halo Kilmarnock Limited


Buccleuch Group

Allied Irish Bank

Svenska Handelsbanken

Apex Hotels Group

Clydesdale Bank plc

Hampden & Co

Work highlights

  • Advising CES on the finance documentation relating to its investment in the flagship MeyGen Phase 1A Tidal Energy Project in the Pentland Firth.

BTO Solicitors LLP

BTO Solicitors LLP handles all aspects of corporate and property banking work for clearing banks, borrowers, investors and syndicated lenders. It also handles mandates from the social housing, renewables and leisure sectors. The team is jointly headed up by Nicolas McBride and Jeremy Glen; McBride is recommended for development finance and secured lending matters; and Glen handles corporate finance transactions.

Practice head(s):

Nicolas McBride; Jeremy Glen


‘They provide a superior level of service that allows for the transaction to complete smoothly’.

‘Nicolas McBride is a highly experienced banking solicitor who understands what is required to ensure transactions complete as scheduled’.

‘Nicolas McBride is hands on and anticipates any potential issues at an appropriate early stage and communicates accordingly to all parties’.

‘Nicolas McBride’s wise counsel has been remarked upon by customers and their solicitors’.

Key clients

Lloyds Banking Group

Barony Universal Products PLC

Triodos Bank UK Limited

Close Brothers

Royal Bank of Scotland


Clydesdale Bank

Hampden & Co PLC

Allied Irish Bank

Bank of Scotland

Work highlights

  • Acting for Lloyds Banking Group/Bank of Scotland in a secured lending matter involving the funding of a purchase of commercial properties into a trust-based pension fund.
  • Acting for a large corporate, Barony Universal Products PLC, in a full re-bank away from Royal Bank of Scotland PLC to Santander UK PLC.
  • Acting for Triodos Bank UK Limited in a secured facility to fund the purchase of a portfolio of three trading hotels.

Gillespie Macandrew LLP

Gillespie Macandrew LLP regularly handles the Scots law aspects of transactional work for larger international firms and is also appointed to a number of lender panels. It has particular expertise in peer-to-peer lending work and acts for borrowers and lenders in the agriculture, real estate and renewables sectors. Practice head Kenneth Irons is a property finance specialist with experience in multi-jurisdictional deals.

Practice head(s):

Kenneth Irons

Other key lawyers:

Ross MacRae; Christopher Smith; Gregor Peebles


‘Gillespie MacAndrew have first class local knowledge and are eager to assist whenever engaged’.

‘Ross MacRae was a pleasure to work with, I found him incredibly diligent and willing to go the extra mile to get the transaction over the line.’.

‘Quick to respond and commercial in their approach’.

‘Ross MacRae is mature in his approach and easy to work with’.

‘Ross MacRae is an excellent communicator and very easy to speak with in jargon-free discussions’.

‘Ross MacRae is always happy to explain things thoroughly and his common sense approach is very refreshing’.

‘Their availability and pro-activeness ensures the end client receives a first class service’.

Key clients

Assetz SME Capital Limited

Gresham House Forestry Limited (formerly Aitchesse Limited)

Avant Homes Group

Avignon Capital Limited

AMA Homes Group

Work highlights

  • Advised Avignon Capital Limited on the leveraged acquisition of two Waitrose stores in Glasgow for £23.2m.
  • Acted for AMA Homes on its refinance of a key development asset in central Edinburgh.


Lindsays handles referral work from UK and international firms, acting for both lenders and borrowers on a range of transactional matters. It has recently been dealing with Covid-19-related banking matters and is also experienced in development finance, corporate banking and cross-border mandates. Practice head Gavin Buchan specialises in property finance work.

Practice head(s):

Gavin Buchan


‘Very committed and quality people across the board with whom various of our senior people have good and trusted relationships’.

‘Lindsays handle all aspects of our property development business very well, including property transactions, corporate banking and taxation work planning’.

‘Gavin Buchan is professional, knowledgeable and fully satisfactory’.

‘They move quickly when there is urgent legal work/transactions to be undertaken’.

‘They are a great team – always prepared to go the extra mile’.

‘Gavin Buchan is extremely able and nice to work with’.

Key clients


Unbranded Finance

OakNorth Bank plc

Assetz Capital

Aldermore Bank

Shawbrook Bank Limited

Clydesdale Bank plc

Redwood Bank Limited

Hampden & Co

Social Investment Scotland

Work highlights

  • Advised OakNorth Bank plc in relation to the Scottish elements of a £30m facility provided to the Staycity Group.
  • Advised Assetz Capital in relation to a loan to provide development finance for a development in Perthshire, Scotland.
  • Acted for Redwood Bank in respect of a loan to refinance a large portfolio of residential and commercial properties throughout Scotland.


The Scottish banking and finance team at TLT acts as part of the firm’s UK-wide team, and advises on a range of debt finance transactions in the healthcare, clean energy and real estate sectors. Practice head Douglas Gourlay is dual-qualified and handles both transactional and advisory work.

Practice head(s):

Douglas Gourlay

Other key lawyers:

Catharine MacDonald


‘Douglas Gourlay takes a sound and measured approach and so instils a real confidence in the advice and guidance being provided’.

‘Experienced and attentive, with good recommendations on commercial balance and the managing of legal risk’.

‘Quick response and very supportive’.

‘Team members all have the same philosophy and approach, making it easy to deal across disciplines’.

‘Quotes are detailed and accurate with a degree of flexibility’.

‘A real focus on trying to alleviate the pressure and concern from the client and work through to a successful conclusion’.

‘The team has experience, commercial sense, value for money and is approachable and easy to communicate with’.

Key clients

AIB Group (UK) plc

Santander UK plc

Bank of Baroda

ICICI Bank (UK) plc

Ortus Secured Finance

PREM Group

Arbuthnot Latham

Co-operative Bank

Shawbrook Bank Limited

Punjab National Bank (International) Limited

Work highlights

  • Advised AIB Group (UK) plc on the £23m restructure of term and development facilities (including provision of CBILS debt) for an ongoing mixed-use development in London.
  • Advised Punjab National Bank (International) Limited on the provision of $15m facilities running off Federal Funds Target Rate for a Mauritian borrower backed by Indian law standby letters of credit.
  • Advised Santander on refinance and consolidation of existing term facilities to multiple group borrowers and provision of new acquisition and development facilities.