Allen & Overy
Legatics help streamline the transaction and improve the experience
Allen & Overy used Legatics to manage the financing of the Jawa-1 project in Indonesia. This was Asia’s first LNG-to-power project, 2019 IFLR Asia-Pacific Project Finance Deal of the Year, and one of the largest technology assisted completions in Asia. Allen & Overy were commended for their use of Legatics in the 2019 Financial Times Innovative Lawyers Awards – Asia-Pacific.
Almost 250 transaction participants
Over 680 conditions precedent
High transaction value
$1.8bn estimated value in the transaction
Tools for the job
Through the use of Legatics, Allen & Overy automated the creation of digital, collaborative condition precedent (CP) checklists from schedules of key transaction documents. The online checklists were used to manage the completion of the CP process: each time a CP document was uploaded to these checklists, they automatically updated and the relevant transaction parties were notified about their required actions and able to carry out those actions through the platform.
Through the Legatics online dashboard, Allen & Overy clients and transaction parties received live visibility of the progress of the different CP checklists and each party’s outstanding responsibilities.
Estimated six-month closing process completed in just three months
Thanks to increased transparency and automatic notifications
Over 50% reduction in all parties’ calls
Lawyer time reduced by 20%,
a six-figure cost saving
It made the process of getting all of the documents dated and closing the deal incredibly clear and showed everybody exactly what was outstanding… It saves time and resulted in a lot less stress at the final stages.
Try Legatics today
If you use Word to manage your transactions, you can use Legatics. Using Legatics is that simple.