Marc Palley

Marc provides expert advice to banks, investors, and borrowers on loan facilities, derivatives, restructurings, insolvencies, and regulatory reviews, helping corporates and financial institutions.

• Acted for Tesco on its investment grade loan work for over 25 years, including its first syndicated loan and subsequent self-arranged bilateral and syndicated loan facilities, including a syndicated £1,750 million self-arranged 7-year revolving credit facility.
• Acted for GUS on its investment grade loan facilities, including its bilateral facilities and a self-arranged £900 million 5-year revolving credit facility.
• Acted for Drillgreat on its £197 million facility to finance the takeover of Monsoon.
• Acted for Absa Bank on numerous syndicated loan facilities, including a US$320 million syndicated loan facility.
• Acted for Tesco, GUS, Absa Bank, Helaba, West Immo and Arrowcroft in relation to numerous loans and related hedging.
• Acted for Absa Bank in preparing its standard form ISDA Master Agreements.
• Acted as the banking and derivatives expert approved by the FSA (now FCA) in relation to an Independent Review of Interest Rate Hedging Products sold by Clydesdale and Yorkshire banks to UK small and medium-sized enterprises.

Marc advises issuers and investors on bond issues, note programmes, and capital markets transactions,helping corporates and financial institutions.

• Acted for Tesco on its public bond work for 25 years, including its first eurobond issue and its first euro note programme and its first issues of Yankee bonds.
• Acted for Tesco in relation to its £15 billion euro note programme and in relation to numerous issues under its euro note programmes, including an issue of £500 million 50-year bonds.
• Acted for Tesco in relation to its euro commercial paper programmes and its guarantee of the Conventional and Islamic Commercial Paper and Medium Term Note Programmes of Tesco Stores Malaysia.
• Acted for LEP St Paul’s Vista in relation to the provision of substitute security under the terms of is public bond issue on the sale of the development.
• Acted for Northavon Investments on its £77.6 million secured bonds issued in connection with the acquisition of the Sun Life Headquarters Building.

Marc advises lenders, investors, and developers on complex real estate financings, joint ventures, and loan facilities, helping corporates and financial institutions.

• Acted for British Land Tesco on its real estate joint venture financings for 15 years.
• Acted for Shopping Centres Limited in relation to several syndicated loans and related hedging.
• Acted for Helaba in relation to numerous loans and related hedging.
• Acted for West Immo in relation to numerous loans and related hedging.
• Acted for Arrowcroft in relation to numerous loans and related hedging.

Marc has significant experience advising on complex corporate restructurings, insolvencies, and administration processes for companies across multiple sectors, helping corporates and financial institutions.

• Acted for Ionica Group in relation to proceedings in the US to dismiss an application for Chapter 11 proceedings by the high-yield bondholders.
• Acted on major restructurings for the airline, Dan-Air, and for the freight forwarding and logistics company, LEP Group.
• Acted for the property investor and developer Imry on two major restructurings opposite Barclays Bank.
• Acted for telecoms startup Ionica Group in relation to the appointment of administrators over its operating company and subsequently acted for Ionica in a ground-breaking High Court-approved scheme of arrangement.
• Acted for Bank of Boston on the insolvent administration of two leasing and hire purchase companies.
• Acted for Absa Bank on various workouts and insolvencies.

Marc is highly experienced in litigation and regulatory and judicial reviews helping corporates and financial institutions in complex disputes.

• Acted for Ionica Group in relation to proceedings in the US to dismiss an application for Chapter 11 proceedings by the high-yield bondholders.
• Acted against The Secretary of State for the Environment in relation to a successful action for judicial review challenging a wrongful grant of planning permission.
• Acted against Sevenoaks District Council in the planning enforcement case of R v Sevenoaks District Council, ex parte Palley, where the local authority’s failure to take enforcement action was successfully challenged for the first time in judicial review proceedings before the High Court, thereby making legal history.
• Acted for Absolute Capital Management Holdings on an independent review into the investment strategy of certain of its equity funds.
• Acted as the banking and derivatives expert approved by the FSA (now FCA) in relation to an Independent Review of Interest Rate Hedging Products sold by Clydesdale and Yorkshire banks to UK small and medium-sized enterprises.

Recognised by Chambers UK as a Leading Individual in Banking and Finance in multiple years between 1999 and 2020

Recognised by The Legal 500 for Bank Lending and Capital Markets in multiple years between 1987 and 2020

Recognised by Best Lawyers (UK) for Banking and Finance Law and Capital Markets Law in multiple years between 2009 and 2020

Listed in various Who’s Who publications in multiple years between 1985 and 2020

Listed in Debrett’s People of Today in multiple years between 1988 and 2017

Described as “highly energetic”, an “experienced and intelligent advisor”, a “good lateral thinker” and “100% on your side in each transaction” in Chambers UK 2006