Search results for

The European Investment Bank and Nordic Investment Bank completed the €640 million financing for the design, construction and maintenance of the A1 motorway in Poland. White & Case, led by Jacek Czabanski, represented the banks on the financing. Wardynski & Partners advised the Polish Treasury and CMS Cameron McKenna acted for concessionaire Gdansk Transport Company (GTC). GTC will construct and operate the motorway, receiving revenues from availability and performance payments. The project will be implemented in collaboration with the Polish Ministries of Finance and Infrastructure and the national roads authority.

A syndicate of banks, led by WestLB and BNP Paribas, completed the securitization of €1 billion of German auto-loan receivables. Volkswagen Bank originated the loans through the German securitization vehicle Driver Two. It is the second German true-sale securitization to make use of the TSI platform, established by 13 banks and True Sale International. Mayer Brown Rowe & Maw, led by finance partners Ralf Hesdahl, Stuart Litwin and Ingo Kleutgens, advised the syndicate of banks.

Many US companies and individuals rushed to file for bankruptcy before a new law came into effect on October 17. Skadden Arps Slate Meagher & Flom was assigned as lead counsel to Delphi Corporation on its Chapter 11 restructuring. Delphi, which was spun off from General Motors in 1999, is the world's largest manufacturer of car parts. Delphi revealed details of $4.5 billion in financing that it plans to use to fund its operations while in Chapter 11. This will include up to $2 billion in debtor-in-possession financing from lenders led by JPMorgan Chase and Citigroup Global Markets. The Skadden Arps team representing Delphi includes partners John Butler and John Lyons in Chicago and Kayalyn Marafioti in New York. The company hopes to emerge from Chapter 11 in 2007.

NRG Energy reached an agreement to buy Texas Genco for about $5.8 billion in stock and cash. Under the deal, which brings together two US power firms with a combined 26,000 MW in generating capacity, NRG will also assume $2.5 billion of Texas Genco's debt. Skadden Arps Slate Meagher & Flom advised NRG Energy on the acquisition. The firm's team comprised lawyers in New York, Houston, Wilmington and Washington DC, including partners Erica Ward, John Ale, Clifford Naeve, Robert Pincus and Stacy Kanter. Simpson Thacher & Bartlett advised Texas Genco, with David Sorkin leading the firm's team.

By Boris Otto Lira and Alejandro Landa Thierry of Thacher Proffitt & Wood

The Hague Securities Convention has come under attack for being allegedly US-centric and interfering with EU legislation. These assertions are unfounded, argue Harry C Sigman and Christophe Bernasconi

Can Martin Wheatley, the new head of Hong Kong's securities regulator, help the local market secure its future? Andrew Crooke outlines some of the pressing issues

Three new federal laws recently became effective in Russia: the Law on Special Economic Zones, the Law on Concession Agreements and the Law on Credit Histories. These laws will facilitate and protect foreign investment, enhance predictability when dealing with Russian investment targets and help to develop the Russian business landscape.

Ben Maiden looks at how lawyers are helping Brazilian banks meet the demand for perpetual bonds in the absence of clear rules

James Rice reveals the role local lawyers can play in closing a deal and the techniques banks and issuers use to choose local counsel