LOAN FACILITY AGREEMENTS – HOW WILL THEY EVOLVE DURING THE CURRENT CRISIS?

It is reasonable to assume that, during the last 20 months or so, more shipping loan agreements have been scrutinised in greater detail than at any time in history. Banks, borrowers and their respective legal advisers have been poring over their loan agreements as they seek to protect their interests in the face of, first, the global banking crisis and, latterly, a severe shipping recession. So, how have loan agreements fared under the stresses of these times and what lessons can we learn for the future? How will loan agreements evolve in response to the crisis?

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