Q&As

Are due diligence reports typically addressed to funders as well as to the potential purchaser of a business?

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Published on LexisPSL on 26/07/2016

The following Banking & Finance Q&A provides comprehensive and up to date legal information covering:

  • Are due diligence reports typically addressed to funders as well as to the potential purchaser of a business?

Where there is bank funding for an acquisition, our view is that it is market practice for the lender to have relied on any due diligence reports produced for the buyer as these are key to the lender’s willingness to lend against that asset. The alternative is for the lender to commission its own due diligence, carried out by its own advisers, which the buyer/ borrower would then have to pay for—this involves a duplication of effort to some degree and is often regarded as unwelcome by buyers given the work has already been carried out. It is for th

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