Airswift merger highlights jurisdiction issues over asset-based lending

When Air Energi and Swift Technical merged to form Airswift, a $1.2bn turnover global business providing workforce solutions to the oil and gas sector, cross-border financing issues were an important consideration in the merger process, say Alex Dell and Charles Thain of law firm Mayer Brown

The Airswift merger arose not only because of obvious business synergies but also, in part, to similar pre-merger financing structures. Each company had cross-border asset based lending (ABL) to meet its working capital requirements and the merger consolidated these financing arrangements across the US, Canada, UK, Australia and Asia.

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