Sullivan
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For more than 25 years, Sullivan partners have provided legal representation to the world’s leading trade finance practitioners in all aspects of their businesses, from asset acquisition to distribution to securitizations. We advise clients concerning their activities throughout the world, with a special emphasis on the emerging markets of Africa, Asia, the Middle East and Latin America.

Sullivan has been recognized with numerous awards and consistent recognition, including:

  • Chambers UK, 2026 ranked Sullivan in Band 1 for Commodities: Trade Finance (UK-wide). Partner Geoffrey Wynne is ranked as a ‘Star Individual’ – the only lawyer in the UK included in this category; Simon Cook is Band 1-ranked in the guide’s Commodities: Trade Finance (UK-wide) category; Robert Parson in Band 2; and Mark Norris in Band 3. Sullivan remains the only law firm with four ranked partners in the Commodities: Trade Finance (UK-wide) category in Chambers UK, 2026.
  • Chambers Global, 2026 recognised Sullivan in its 2026 Africa-wide Banking & Finance table, and Simon Cook and Mark Norris were included as notable practitioners in the Africa-wide Banking & Finance spotlight section.
  • Trade, Treasury & Payments (TTP) named Sullivan "Best Law Firm – Trade and Commodities" at the inaugural Trade, Treasury & Payments Awards in 2026.
  • The Legal 500 UK, 2026 ranked the firm in Tier 1 for Trade Finance. In addition, Geoffrey Wynne, Simon Cook and Robert Parson were recognised in the "Hall of Fame," with Mark Norris recognised as a "Leading Partner." Daniela Barrdear was recognised as a "Next Generation Partner" and Marian Boyle was recognised as a key member of the practice.
  • IFLR1000, 2025 recognised Sullivan for Banking Lending – Lender Side, United Kingdom. Additionally, Geoffrey Wynne was ranked as a Leading Lawyer – Market Leader, and Simon Cook was recognised as a Leading Lawyer – Highly Regarded.
  • Global Trade Review (GTR) named Sullivan "Best Trade or Supply Chain Finance Law Firm” at the GTR Leaders in Trade Awards in 2026. GTR also named Sullivan "Best Export Finance Law Firm" at the GTR Leaders in Trade Awards in 2023. The firm was also named “Best Trade or Supply Chain Finance Law Firm” at the GTR Leaders in Trade Awards in 2022, “Law Firm of the Year” in the category Leaders in Trade for Innovation at the 2021 GTR Leaders in Trade Awards and “Best Trade Finance Law Firm” at the GTR Leaders in Trade Awards in 2020 and 2019.
  • Trade Finance Global (TFG) honored Sullivan with the "Legal Innovation in Trade" award at its Trade, Treasury and Payment Awards 2023. In addition, Sullivan was named "Best Trade Finance Law Firm" in its International Trade Awards in 2022 and 2019.

Our practice is multi-disciplinary, involving lawyers who are experts in trade and export finance, project finance, asset finance, securitization, securities law, insurance, tax, compliance issues and dispute resolution. We have advised on deals involving all types of commodities including softs, metals, oil and gas.

The Group is able to advise on transactions involving English law and New York law as its main law. With its extensive network of law firms across the globe, it can cover all cross-border issues and provide advice on local law issues.

In addition to trade and commodities finance, the firm’s London practice is linked closely to our U.S. practice and the needs of our clients worldwide. We have broadened and enhanced our existing practices in cross-border finance, mergers and acquisitions, tax, banking and international arbitration.

United Kingdom Legal Notice

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Late Payment Reform Proposals for SMEs
In a briefing note prepared for ITFA, Sullivan has highlighted the UK Government’s renewed push to address late payments through proposed reforms to the Late Payments Act. First introduced last year, the proposals would cap payment terms at 60 days for transactions involving small and medium-sized enterprises (SMEs). The UK Government says it is aiming to improve cash flow and reduce pressure across supply chains, but which in reality many believe this may disadvantage UK SMEs. The reforms were confirmed in the King’s Speech to Parliament on 13 May, in line with the Government’s declared commitment to fairer payment practices and stronger support for SMEs. If implemented, the changes could significantly affect contractual arrangements, particularly in industries with complex supply chains. The firm’s briefing note outlines key elements of the proposals and their potentially significant impact on businesses, including the need to review payment processes, financing structures and supplier relationships. ITFA says it intends to continue lobbying the UK government to reconsider the details of the proposals. To read the full Sullivan briefing note on the proposed Late Payment Law Reforms or please contact Geoffrey Wynne for further information.
Trade Finance Guide 2026
Reflecting the firm’s involvement in all aspects of trade finance, partner Geoffrey Wynne has contributed to the updated “Trade Finance Guide 2026,” described as “the definitive reference for trade finance professionals” and published jointly by Trade Treasury Payments (TTP) and the International Trade and Forfaiting Association (ITFA). The guide provides a practical, practitioner-focused overview of modern trade finance markets, covering core structures, products and risk dynamics. It explains how trade finance underpins global commerce by bridging payment gaps between buyers and sellers while mitigating risk through instruments such as letters of credit, guarantees, receivables finance and supply chain finance. It also outlines the roles of importers, exporters and financiers, and the legal and documentary frameworks supporting transactions, with an emphasis on robust structuring to ensure enforceability and repayment. In addition, the guide addresses key risk mitigants, including credit enhancement, insurance and risk distribution, alongside common challenges such as fraud, operational complexity and cross-border legal issues. Reflecting market evolution, it highlights trends including digitalisation, standardisation and the growing participation of non-bank investors. It is designed as an accessible resource for both new and experienced professionals seeking a clearer understanding of trade finance and its role in supporting the real economy.  The guide can be accessed and downloaded here.
Sullivan Advises BAFT and ITFA on Updated CRR Legal Opinions for the 2008 English Law Master Participation Agreement (MPA)
(London and New York) – Sullivan has advised BAFT (the Bankers Association for Finance & Trade) and ITFA (the International Trade and Forfaiting Association) on the publication of the two Capital Requirements Regulation (CRR) legal opinions covering the 2008 English law Master Participation Agreement (MPA). The newly released opinions comprise the EU CRR opinion on English law MPA 2008 and the UK CRR opinion on English law MPA 2008. They are intended for institutions that continue to use the 2008 version of the MPA, having executed it prior to the introduction of the later versions. The publication of these two legal opinions completes the suite of updated CRR legal opinions that Sullivan has prepared for BAFT and ITFA, following the release of the updated opinions covering the other English law MPAs, New York law MPAs and the Surety MPAs earlier this year, which can be read in full, here. Importantly, these opinions note that eligibility for credit risk mitigation (CRM) may only apply if the Participant shares in the fraud risk in the optional wording of Clause 11. As the 2008 English law MPA has long since been superseded, ITFA has announced that these are the final legal opinions that will be issued in respect of that document, reflecting both the age of the underlying template and the increasing difficulty of providing a clean opinion where one of the optional wordings is adopted. Geoffrey Wynne, head of Sullivan’s Trade & Export Finance Group, commented: “We are pleased to have continued our long-standing work with BAFT and ITFA advising on these CRR legal opinions for the 2008 English law MPA. Their publication completes the current suite of opinions available to members and provides support for institutions that continue to use the earlier version of the agreement. It is hoped that institutions will pay heed to reservations and react accordingly.” The Sullivan team advising BAFT and ITFA includes partners Geoffrey Wynne and Marian Boyle in London and partner Natalie Lederman in New York. About Sullivan Sullivan & Worcester (Sullivan) is a global law firm with lawyers in Boston, London, New York, Tel Aviv and Washington, D.C. Sullivan’s clients, including Fortune 500 companies, leading financial services firms and asset managers, boards of directors and emerging businesses, rely on Sullivan’s ability to navigate complex legal and operational landscapes and its commitment to best in class client service. For further information, please visit the firm’s website and LinkedIn.
Sullivan Advises Limak Construction on its Award-Winning ECA Financing
London – Sullivan & Worcester (Sullivan) has advised leading Turkish construction company Limak Construction on its award-winning export credit agency (ECA) financing arranged by Standard Chartered Bank and guaranteed by Swiss Export Risk Insurance SERV. This transaction won “Best ECA Syndicated Loan” at EMEA Finance's Achievement Awards in London. Sullivan continues to advise Limak Construction on its innovative ECA financings led out of London and Türkiye. The Sullivan team was led by partner Mark Norris, supported by partner Daniela Barrdear. About Sullivan Sullivan & Worcester (Sullivan) is a global law firm with lawyers in Boston, London, New York, Tel Aviv and Washington, D.C. Sullivan’s clients, including Fortune 500 companies, leading financial services firms and asset managers, boards of directors and emerging businesses, rely on Sullivan’s ability to navigate complex legal and operational landscapes, the judgment of its lawyers, and its commitment to best in class client service. For further information please visit the firm’s website or LinkedIn.

United Kingdom

United Kingdom

United Kingdom

United Kingdom