المركز القانوني للبنك المنظم في قرض التجمع البنكي : دراسة مقارنة مع نظام القانون العام (Common Law)‎

Abstract EN

In syndicated loan a group of lenders (two or more banks or non-bank financial institutions ( work together to provide funds to a borrower, One of these banks assigned by the borrower to act as the Arranger (Mandated Lead Arranger:(MLA)) to structure the loan , prepare the loan documentations , syndicate the participants and to negotiate the term’s and conditions of the loan with the participants.

The role of the arranger in different phases of the syndication process raised a wide legal controversy in common Law jurisdiction about the nature of the relationship between the arranger and the other parties and its legal status in the loan, which has been a vexed issue for courts and academic commentators.

The objective of the paper is to investigate the most important Legal opinions adopted by common law jurisprudence, judicial precedence and the financial Markets practices specially by Loan Market Association Documentation about the nature of the relationship between the arranger and the other parties and its legal status in loan syndication.

The study found that although the Arranger Bank appointed by the borrower under a special mandate, however,it is not an agent of the borrower.

Ahd despite being one of the lenders involved in the funding of the loan but it is not an agent of the lenders.

So the study concluded that the best solution is to adopt the juristic opinion which considers the Arranger Bank as an independent contractor for different legal and practical reasons which have been outlined in this study.

The study also concluded that there are no legal impediments in Jordanian legal system preventing from applying of the independent contractor theory on the arranger banks in Jordan.