The Projects team focuses on the infrastructure market, both in the UK and overseas, providing significant depth of experience across social infrastructure (health, education and housing), transport (including rail and road) and energy sectors.
The team advises clients on new projects, negotiating the full suite of contracts including the project agreement, construction contracts, facilities maintenance contracts, real estate agreements and the funding agreements. We also have a busy practice advising on issues arising during the operational phase of projects. This work has included variations, market testing of soft FM services, termination of sub-contracts, renegotiation of payment mechanisms, refinancings, voluntary termination of projects and the consequences of default termination of projects. We have an experienced finance team who are fully familiar with project finance and the agreements required for a non-recourse facility. We also have an experienced dispute resolution team who understand the complex contracting structures involved.
Our team is also active in the secondary equity market where we have advised on the acquisition and disposal of equity in over 100 projects, including three major portfolios. We are familiar with due diligence requirements, the consents process and necessary corporate structuring and issues such as pre-emption rights and third party consents. The depth of our experience in the market means we can quickly identify unusual risks and/or liabilities for investors.
News & Insights
Practical Completion – Matter of Fact or what the Contract says?
Practical completion has a number of important consequences under construction contracts. We provide an overview.
Reform of Retention
The use of retentions was thrust into the spotlight with the introduction of the Construction (Retention Deposit Schemes) Bill 2017-19.