When acting for investors looking to venture into the luxury asset market, it is important that the structuring of the transaction maximises the tax efficiencies for the client, that extensive due diligence is undertaken into the asset in question, and that third parties are consulted to advise on authenticity, quality and condition.
Financial institutions are becoming increasingly comfortable in lending against fine art, classic cars and wine, as they look for new lending models that can give healthy returns while seeking to minimise their risk.
Our team has advised financial institutions lending against classic cars, acted for clients looking to raise funds on their art and wine collections, and negotiated bailment terms where a gallery was tasked with holding a mortgaged artwork on behalf of the consignor and lending institution.
We are at the forefront of new UK legislative reforms that could potentially open up the UK market in terms of luxury asset lending. We have assisted the Law Commission and worked with other key stakeholders to ensure these changes are robust, progressive and will create an opportunity for UK based financial institutions.
In 2020 we advised on a successful application for finance from the Government’s coronavirus Future Fund for Cromwell Place, a first of its kind flexible art hub in South Kensington.
Our award-winning art law blog features the latest art news, as well as longer articles and opinions from our own legal experts and invited guests. Find out more about our expert team and discover our Art Law & More blog.
Find out moreBoodle Hatfield’s ‘highly respected’ ‘standout’ Private Wealth team have been elevated to tier one in the ‘Personal Tax, Trusts and Probate’ category of the 2023 guide. The firm is also delighted to report that as well as being uplifted, it has retained its top tier status in six other categories, affirming its position as one of London’s leading law firms.
Read more 20 Sep 2022 My NFT has been stolen, what do I do? : Avoiding Crypto / NFT fraud and theft (Part 2 of 2)With a rise in reports surrounding NFT and cryptocurrency scams, Partner, Kellie Jones and Associates Rosie Adcock and Alexander Martinelli highlight what strategies can be put in place by those creating, buying or selling NFTs.
Read more 20 Jul 2022 Grappling with Graffiti: Street art – who owns it?Litigation and Art Law Partner, Simon Fitzpatrick, Associate, Rosie Adcock and Trainee Solicitor, Ruby Dyce comment on the rise of street art, thanks to the likes of artists such as Banksy and Jean-Michel Basquiat, and the resulting disputes over ownership which are often tied to property and land law.
Read more 05 Jul 2022 Prevention is better than cure: Avoiding Crypto / NFT fraud and theft (Part 1 of 2)With a rise in reports surrounding NFT and cryptocurrency scams, Partner, Kellie Jones, Associate, Rosie Adcock and Trainee, Ruby Dyce highlight what strategies can be put in place by those creating, buying or selling NFTs.
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