English law remains the top choice for financial contracts
despite earlier concerns about its popularity continuing owing
to Brexit uncertainty – although there has been a
small number of outliers.
A London-based head of loans at a major global bank told
IFLR that the majority of issuers and investors continue to
favour English law in most cases. "On the whole, if an issuer
wants to do a deal above a certain threshold – even if
the company is not English – it will use English law,"
he said. "I wouldn’t say Brexit has really had an
impact at all. The considerations are the same as they have
English law has long been the popular choice for loan
contracts owing to its relative freedom of contract,
creditor-friendly nature, and the reputation of the local
There are, however, many reasons why an issuer may opt for
the law of another jurisdiction....