11:14, March 10 285 0

2017-03-10 11:14:08
UK lender Nava Finance appoints Paul Hastings and BLP as core advisers

New UK lender Nava Finance has appointed Paul Hastings and Berwin Leighton Paisner (BLP) as its “strategic legal partners” as it looks to build its business following regulatory approval earlier this year.

Paul Hastings will advise Nava on legal matters including regulation, company finance structuring and high-value contracts, while BLP will provide commercial advice.

Paul Hastings London finance, securities and capital markets partner Paul Severs will run the firm’s relationship. He said in a statement: “The team at Nava are embarking on an exciting journey and we look forward to advising them in the development of the business.”

Meanwhile BLP head of commercial Mark Lewis said: “This is another example of BLP’s work in the fintech sector, as we continue to support emerging businesses.”

Nava is looking to bring further law firms on board in the coming months. Nava Finance CEO Joe Dlutowski said: “We are in the process of building a comprehensive network of partners to prove the necessary support across all areas of the business.

“The appointments to the legal expertise we already have at our disposal and ensures that we are well-equipped to deal with the rigours of running and growing a business in the financial services sector.”

Nava has not yet officially launched since it received Financial Conduct Authority (FCA) approval in January, and its website is under development. It will provide consumer loans with funding from institutional investors.

Paul Hastings has been boosting its City finance practice, most recently hiring a three-partner team from Ashurst in September. However the practice took a hit in New York last month when three finance and securities partners moved to Allen & Overy.