Lessons From Different Sides of Lending

Elisabeth joined Summer Lawyers at a time when lawyers worked across both advances and recoveries, developing her understanding of transaction structuring and enforcement.

As the firm grew and its practice areas became more specialised, she took on a leadership role with the Advances team, helping develop processes, documentation and transaction workflows. Simultaneously, her experience in recoveries continued to shape the way she approached transaction structuring and risk management.

"Back then, everyone worked across both advances and recoveries," Elisabeth said. "That gave us an understanding not only of how transactions are structured, but also how they perform when circumstances change. It reinforced the importance of considering enforcement and risk management from the outset, rather than treating them as issues to address later."

For Elisabeth, one lesson has remained consistent throughout her career.

"The decisions made at the start of a transaction can often have a significant impact on the options available later," she said. "Good structuring is not just about completing a deal. It is about ensuring lenders are in the strongest possible position if circumstances change."

That outlook has informed her approach to advising lenders, with a focus on identifying risks early, strengthening security arrangements and ensuring lending structures are capable of supporting effective enforcement where required.

Connecting Strategy and Outcomes

The relationship between transaction structuring and enforcement is a recurring theme throughout Elisabeth's practice.

Having spent years drafting loan and security documentation, advising on risk allocation and working closely with lenders at the outset of transactions, she understands not only the legal framework underpinning a loan, but also the commercial objectives that informed its structure.

That perspective can be particularly valuable when loans come under pressure. By understanding both the original transaction and the challenges that can emerge later, Elisabeth is able to assist lenders in assessing their options and pursuing practical commercial outcomes.

Growing With the Industry

Elisabeth's return to the Recovery team comes after a decade working alongside private and non-bank lenders as their businesses, and the broader private credit market, have evolved.

Throughout that time, she has worked closely with clients across a wide range of lending matters, developing an understanding of their commercial objectives, risk appetite and approach to transactions.

For Elisabeth, those long-standing relationships remain one of the most rewarding aspects of her practice.

"Private lending remains a people business, built on trust, responsiveness and a thorough understanding of each client's objectives," she said. "Those principles have shaped my career and continue to underpin the way we work with our clients at Summer Lawyers."

About Elisabeth McGready

Elisabeth McGready is a Partner at Summer Lawyers advising private and non-bank lenders on lending transactions, security enforcement, dispute resolution and recoveries. A leader in the Recovery team, she brings an end-to-end perspective to lending matters, with a deep understanding of the commercial and legal considerations that can arise from origination through to enforcement.