+852 3795 6303Acting as facility agent, Serica performs an administrative role managing and streamlining the relationship between a borrower and its lender(s).
We act as the primary point of contact between parties and manage all communication between them.
Other services include:
A security agent or trustee is appointed to hold security interests for and on behalf of one or more beneficiaries.
This can be particularly beneficial if, for example, the composition of the beneficiary group is likely to change over time as it avoids the cost and difficulty of releasing and retaking security each time a new beneficiary is added or an existing beneficiary transfers its interest.
Serica is able to hold security interests in a wide number of different jurisdictions and is familiar with the practical issues involved in doing so.
As security agent/trustee, our duties include:
A bond/note trustee facilitates the relationship and information flow between a bond or note issuer and its investors.
Serica takes a highly commercial approach to managing this complex process, and efficiently manages requests for amendments, waivers and consents. In the event of a default, we take a proactive and cooperative role in protecting the interests of investors.
In distressed situations, an incumbent trustee may be reluctant to exercise discretion or act decisively to protect creditor interests.
Significant delays may also be caused if an incumbent trustee insists on full indemnification prior to acting on creditor instructions.
Serica understands the frustration this can cause, particularly when time is of the essence. The specific experience of our team makes us particularly well-suited to assist in such situations by replacing the incumbent trustee.
As an independent service provider, we remain conflict-free and can take decisions quickly and effectively without requiring approval from internal credit or compliance committees.
An escrow agent may be jointly appointed by parties to hold funds or other property (such as shares) in trust on their behalf while a transaction is finalised or a dispute is resolved.
We are regularly appointed to hold funds on behalf of clients pending, for example, completion of a sale and purchase transaction or arbitration proceedings. We do so on a straight-forward, fixed fee basis.
Serica can act as custodian in respect of a range of asset types including:
Serica has client bank accounts located in Hong Kong, Singapore and Jakarta and can hold funds in a number of different currencies.
Parties to a transaction may not always be incorporated or operate in the same jurisdiction. If a party agrees to transaction documents being governed by the laws of a country in which it does not have a physical presence (i.e. an address), it will typically be required to appoint an agent for service of process or “process agent” in that country.
The process agent acts as a local representative of the appointing party. Court documents in respect of the transaction may be served on the process agent, who will then deliver them to the appointing party in accordance with pre-agreed instructions.
This facilitates prompt delivery of legal documentation and avoids the complex process of serving legal documents overseas.
Serica can act as a process agent in Hong Kong or the UK.
An independent director is a member of the board of a company who does not have a material or pecuniary relationship with that company or its related entities, and is therefore free of any connections that may lead to a conflict of interest.
Serica can provide experienced individuals to act as neutral, responsible corporate officers on either an interim or long-term basis.
We are happy to discuss any transaction or matter where a neutral third party is required to perform any bespoke administrative, trust or ancillary role..
The name “Serica” was chosen to reflect the group’s strong East/West connections. Serica was the name of a famous tea clipper built in Scotland in 1863 expressly for the Chinese tea trade.
Serica participated in the annual "tea races" carrying the first tea crop of each season from China to London. She won the race in 1864.
“Serica”, derived from the Greek and Latin words for “silk”, was also the name of one of the easternmost countries of Asia known to Ancient Greek and Roman geographers. Now generally taken as referring to North China during the Zhou, Qin, and Han dynasties, it was reached by traders via the overland Silk Road.
These connotations of trade and commerce are reflected in our logo, which references a specific shape of coin used throughout China and East Asia from the 4th century BC until the 20th century AD.
enquiry@sericatrust.com