Expertise ––––– March 2015
Asset Finance
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ExpertiseMarch 2015
Our asset finance law practice, led by London based partner Roger Clarke, is one of the strongest elements of our international practice. We have a dedicated asset finance team primarily based in London that advises international operators, banks, lessors and maintenance providers. Recent transactions have involved the Middle East, Africa, North America, the UK and mainland Europe, as well as the Indian subcontinent and the Far East.
Our Middle East work is complemented by our Islamic finance experience. Partner Sarah Gooden has acted on a range of Islamic structures and has recent experience of Islamic structures used for aircraft acquisitions.
Our aviation disputes team, led by partner Alex Burton, regularly advises lessors, airlines and other industry participants in connection with leasing, contractual and technical disputes. The team is accustomed to working closely with lawyers in other jurisdictions.
Recent deals
Aircraft leasing and purchasing
Advising on the following:
- Advising Oman Brunei Aviation Leasing Company on its first transactions, two new B737-900s leased to Oman Air.
- Advising the lender on refinancing three B757s operated by a well known courier company.
- Advising the lessor on a sale and lease back, structured Islamically, of two Boeing 777s for a Gulf based courier.
- Advising the arranger on the US$700M structured financing and acquisition and leasing of six new A330-200s to a Gulf based carrier and advising the junior lender with respect to exit strategies.
- Advising a lessor on the refinance, on an Islamic finance structure, of one Boeing 777 on lease to an airline in the Far East.
- Advising the purchaser on the acquisition of four RJ100 aircraft, the purchaser being a newly formed Central Asian airline.
Rolling stock
- Advising a train manufacturer on the sale and supply of train – trams to a UK public sector entity
Lessor/owner/purchaser representation
Advising on the following:
- Rolling stock
- Acquisition and ECA financing of four CRJ900s leased into Vietnam;
- Acquisition and financing of one new A330 and one new A320 aircraft to be leased to Aeroflot;
- Acquisition and financing of one A330 on lease to a Middle East carrier;
- Numerous cross-border operating leases of both wide and narrow body aircraft including into UAE, Bahrain, Vietnam, Canada, Indonesia, Greece, Italy, Spain, Turkey and Saudi Arabia;
- Purchase and leasing of four aircraft to a Saudi Arabian carrier; and
- Acting for lessors and mortgagees on repossessions in various jurisdictions.
Airlines
Advising on the following:
- Purchase of 24 new Embraer aircraft with staged deliveries;
- Acquisition of a fleet of new regional jets;
Helicopter Support Services
Advising an India based helicopter support services operator on the following:
- Export credit agency financing of a new Bell 412 Helicopter;
- Leasing of two Bell 412 helicopters from CHC International;
- Charter of one Bell 412 for offshore oil rig operations; and
- Leasing of Bell 412 Aircraft from GE Capital.
Source:istockphoto
Engine Leasing
We regularly advise a major engine leasing company on engine leases to airlines in various Middle East jurisdictions.
Regulatory
We advised a Gulf based carrier on the migration of its fleet of over 30 aircraft from one state of registration to another. This was particularly challenging as the new state of registration had no experience of the registration of commercial airline aircraft.
Insurance
We recently advised a major lessor with respect to its contingency insurance policy. We also have recent experience of advising insurance brokers on residual value policies in repossession situations.
Jurisdictional Advice
We regularly provide local jurisdictional advice to a variety of lessors, owners and financiers from our Middle East offices.
March 2015 © Trowers & Hamlins
For more information please contact
Roger Clarke
Partner
t +968 2468 2932
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Alex Burton
Partner
t +44 (0)20 7423 8035
e
Sarah Gooden
Partner
t +44 (0)20 7423 8334
e