Leading Commercial Law Firm
Serving Manchester and Cheshire

Prioritisation / Subordination

We represent and advise lenders, investors and borrowers on a wide variety of matters.

Where you have two or more lenders who have made facilities available to a business, it is important to ensure that the two lenders have agreed between themselves who ranks ahead of whom in terms of the debt and the security. This will be by way of an intercreditor agreement/deed of priority. Not only is it important in terms of lenders' priority but it will also regulate how enforcement action may be taken against the borrower and obligations as to notification between the lenders.

Prioritisation/subordination may also take the simpler form where a director is asked to subordinate their director's loan to the company behind any loan made by a lender.

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Akeel Latif, Partner
0161 941 4000
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