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Stephenson Harwood

Living Wage
1 FINSBURY CIRCUS, LONDON, EC2M 7SH, ENGLAND
Tel:
Work 020 7329 4422
Fax:
Fax 020 7329 7100
DX:
64 LONDON CHANCERY LANE WC2
Email:
Web:
www.shlegal.com
Beijing, Dubai, Hong Kong, London, Paris, Piraeus and 4 more

Richard Parsons

Tel:
Work 020 7809 2651
Email:
Stephenson Harwood

Work Department

Finance.

Position

Richard is an aviation finance and leasing expert and particularly well known for advising banks and operating lessors.  Clients value Richard's pragmatic and commercial approach and his attention to detail. He is the firm's global head of aviation.

Richard focuses on financing and leasing transactions in the aviation sector. He regularly advises leading banks and lessors on complex loan financing transactions, leasing transactions, aircraft acquisitions and disposals and subordinated debt transactions.  

He has strong and long-standing relationships with his key clients, who all value his understanding of their business needs and his responsive and commercially astute advice.  

Richard has developed particular expertise on operating lessor financings, acting for both lenders and borrowers. He has advised a leading international operating lessor on the acquisition, financing, leasing and disposal of approximately 50 aircraft over the past four years. He has also been active on aircraft portfolio acquisitions and disposals, including advising a leading operating lessor on the disposal of a portfolio of 37 aircraft.  

In addition to representing a wide range of the world's leading aviation finance banks, Richard also advises insurance companies and investment funds on aviation finance transactions, including a number of new entrants to the market. He also advises subordinated debt providers.


London: Finance

Asset finance and leasing

Within: Asset finance and leasing

While it remains best-known for its 'strong ship finance offering', where it acts on behalf of lenders and operators, Stephenson Harwood also continues to gain traction in the rail market and is instructed by a varied array of clients including franchise owning groups (Abellio East Anglia, Arriva Trains Wales) as well as traditional and new entrant financiers (Macquarie, Rock and Infracapital). Lisa Marks recently advised Corelink Rail Infrastructure on the financing to facilitate West Midlands Trains' purchase of over 100 new trains from Bombardier Transportation and Construcciones Y Auxiliar De Ferrocarriles SA as part of the planned upgrade for the West Midlands rail franchise. On the shipping front, the 'very talented' Ian Mace is gaining a reputation as a 'rising force' in the sector and heads a team that also includes the 'astute and technically strong' Jonathan Ward and the 'very experienced and knowledgeable' Mark Russell. Senior associate Sheila Obhrai has strong ties with numerous lenders including KfW IPEX, which she recently advised on two euro term loan facilities made available to a prominent cruise company to finance the construction in Germany and Finland of two newbuild cruise ships. Richard Parsons heads up the firm's aviation finance offering and, as well as developing a strong track record for handling aircraft portfolio acquisitions and disposals, generates a significant amount of work from asset management entities that are increasingly active in the sector as well as traditional finance providers including DVB Bank and BNP Paribas. Rail finance head Graeme McLellan is also recommended.

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London: Transport

Aviation

Within: Aviation

Stephenson Harwood¬†has an ‚Äėimpressive team‚Äô which is praised for the ‚Äėdepth of its knowledge and the speed with which it is imparted‚Äô; it is a ‚Äėstand-out firm for commercial aviation disputes and regulatory problems.‚Äô The team represented Ryanair on a ‚ā¨70m contractual dispute with Hertz Europe and also acted for Ryanair in a regulatory dispute with the UK's air traffic services provider, NATS. Sukhoi Civil Aircraft Company, Jordan Aviation, AirAsia and American Airlines are also clients. Aviation litigator Paul Phillips¬†heads the team and is ‚Äėmeticulous in his preparation and leaves no stone unturned‚Äô.Senior associate Chloe Challinor¬†is praised for her ‚Äėin-depth knowledge‚Äô and her ‚Äėno-nonsense attitude‚Äô; and is noted for aviation disputes. Associate Johnny Champion¬†¬†has an¬†'exceptional ability to understand and marshal complex technical detail.‚Äô¬†Richard Parsons¬†is global head of aviation.

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Legal Developments by:
Stephenson Harwood

  • Companies should plan now to minimise their pension protection levy

    The amount that pension schemes have to pay to the Pension Protection Fund (PPF) for the year 2006/07 may have increased by as much as five times the previous year's levy. Employers who ultimately bear the cost of many pension schemes will need to make plans now to ensure the levy payable for the year 2008/09 is kept to a minimum.
    - Stephenson Harwood

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