“Our clients have such a diverse range of needs that no two days as a banking lawyer are alike – there are always novel and interesting challenges to face.”

Peter is an experienced banking lawyer who acts on finance transactions and advises on financial services regulation.

He leads Shepherd and Wedderburn’s Financial Services practice, providing specialist advice on the regulation of banks, building societies and other financial institutions. His advice covers both regulated and unregulated financial services, including the preparation of product terms and conditions for mortgages, business banking, payment services and e-money. He also advises on conduct of business rules and prudential requirements for credit institutions and investment firms.

He acts for financial market infrastructure and other market participants on clearing, settlement, collateral and netting arrangements, and advises on hedging agreements and other derivative contracts across the financial and energy sectors.

Peter has extensive transactional experience. He has acted on syndicated lending and structured finance deals; on real estate financings across the UK; and on securitisation transactions, covered bond programmes, forward flow arrangements, warehouse financings and central bank facilities involving assets located in Scotland.

Peter also leads the firm’s Islamic Finance practice. He has developed account and mortgage documentation for Islamic banks, and acts on Shariah-compliant real estate financings for banks and sponsors in the UK.

Areas of practice include:

Sector experience includes:

Admitted

2009: Scotland
2023: England and Wales

Relevant experience

Assets and Receivables Finance

Acting for an international infrastructure group on its master leasing arrangements for the financing of equipment and vehicles by hire-purchase and operating lease.
Advising a renewal fuels supplier on the Scottish aspects of an uncommitted secured syndicated borrowing base facility.

Debt Capital Markets and Securitisation

Acting for a high street bank on its pre-positioning of residential mortgage loans for use as collateral in central bank funding schemes.
Advising a provider of guarantee insurance on the issuance of rated secured bonds to be privately placed in the capital markets.

Financial Products, Services and Regulation

Advising a UK specialist lender on its strategy and action plan for implementing Consumer Duty across its open and closed product books.
Leading the LIBOR transition project for a UK provider of regulated residential mortgages and unregulated buy-to-let mortgages.
Advising a clearing house on the legal effectiveness of its default rules in the event of the failure of a clearing member.

Fund Finance

Acting for a group of banks in providing credit facilities to investment fund vehicles established as Scottish limited partnerships to bridge capital calls on investors.

Real Estate and Development Finance