Around 40 people participated in the first hybrid meeting of this group, which was led by Nick Shiren (Cadwalader) and Phil Abbott (Fieldfisher). The discussion ranged across defining scope (by reference to borrower type, structure and scale), common funding structures and choices, due diligence issues and the possible usefulness of a degree of standardisation (including in reliance language), regulatory treatment, and developments on each side of the Atlantic.

The hope is that members of the wider group will volunteer to lead some more focused work before the group meets again, probably in around three months’ time.

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