I am Matthijs van Gaalen and I'm a corporate / commercial lending lawyer at Gowling WLG and you're watching our eighth video in our video series entitled different types of borrowing entities. In this video we're going to review governmental entities.
Governmental entities are another group of specialty borrowers presenting unique circumstances for loan arrangements they may be in the form of crown corporations, municipal corporations or other persons created through statute or they may be ministries provinces or the federal crown itself borrowing pursuant to orders and council or other authorizations.
Once again some due diligence may be required to properly identify the legal entity intended to act as borrower and the governing legislation or orders in council to confirm that the loan transaction itself and the entry into execution of and delivery of the security documents has been approved by the necessary authorities and are in complete compliance with the applicable legislation.
Once again the assistance of legal counsel is recommended to navigate these complex waters.
This presentation was a high level overview of governmental entities however if you find that you have more specific questions about any of the points discussed or their application to a specific fact situation please reach out to any member of our lending team or you can contact me.
Thanks for watching