Top 100 UK law firm, Hugh James, has been reappointed to the Development Bank of Wales’s legal panel framework.
Lawyers at Wales’s largest firm have been supporting the Bank, including its predecessor body Finance Wales, for almost 15 years. It now retains its role, despite a number of changes to the make-up of this latest panel of five firms. The framework will run for a period of three years, with the possibility of extension for a further 12 months.
The Development Bank of Wales is one of the UK’s largest regional SME investment companies, established by the Welsh Government to help businesses get the finance needed to start up, strengthen and grow. It offers flexible finance for businesses based in Wales, of up to £10 million, in the form of secured and unsecured loans and equity.
Under the framework agreement, Hugh James will provide advice in relation to debt and equity investment and commercial contracts across the Bank’s portfolio, as well as property development advice to the Bank’s operation in the North-East of England.
Multi-disciplinary teams from the Hugh James Corporate/Commercial, Banking and Finance, Employment, and Commercial Property departments will continue to support the Bank – led by Partner and Head of Corporate/Commercial, Gerallt Jones.
Speaking of the appointment, Gerallt Jones said today:
“It’s an absolute privilege to be reappointed by the Development Bank of Wales for yet another term. The Bank plays a crucial role in the Welsh economy and has provided much-needed support to businesses throughout the pandemic, including through the Covid-19 Wales business loan scheme. We look forward to continuing the long relationship we’ve built over the years, and supporting the Bank in delivering its mission, particularly in this challenging economic climate.”
Neil Maguinness, at the Development Bank of Wales, said:
“We’re very pleased to have reappointed Hugh James to our framework. Their continued support and advice during the last 15 years has been invaluable, particularly as we worked through both the Covid-19 pandemic and the subsequent recovery. We’re pleased to maintain our links with a major Welsh firm, and look forward to continuing our relationship with them during this next term.”