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Brodies LLP

15 ATHOLL CRESCENT, EDINBURGH, EH3 8HA, SCOTLAND
Tel:
Work 0131 228 3777
Fax:
Fax 0131 228 3878
DX:
ED10 EDINBURGH-1
Email:
Web:
www.brodies.com

Michael Stoneham

Tel:
Work 0131 656 0061
Email:
Brodies LLP

Work Department

Banking and finance.

Position

Partner specialising in commercial banking and project finance transactions in all sectors, with particular experience in infrastructure, energy, affordable housing and public sector projects, structured finance, funds finance and capital markets transactions.

Career

Trained Allen & Overy; qualified 1980; assistant solicitor Allen & Overy 1980-84; assistant and partner Dundas & Wilson 1984-2011; partner Brodies LLP 2011 to date.

Languages

Spanish, Latin.

Member

Writer to the Signet; Law Society of Scotland; Law Society of England and Wales.

Education

Chatham House Grammar School, Ramsgate; Downing College, Cambridge (1977 MA Law).

Leisure

Rough shooting, tennis, family.


Scotland: Finance

Banking and finance

Within: Leading individuals

Michael Stoneham - Brodies LLP

Within: Banking and finance

Brodies LLP's banking team has 'good links with the key Scottish institutions' and 'delivers joined-up advice by working with other practices'. Michael Stoneham, who is the head of energy and infrastructure finance, 'balances technical skills, attention to detail, commerciality and team management to deliver excellent results in a short time frame'. Neal Richardson in Aberdeen leads the marine finance team. Chris Dun, who joined from Maclay Murray & Spens LLP in 2017 with four other team members (prior to its merger with Dentons), has strengthened the firm's offering in real estate finance and housing finance. A growth area of the firm's practice has been in funds finance; in a recent highlight, Peter Kelly and associate Jack Moir advised Regional REIT Limited on the amendment and restatement of circa £70m of existing facility agreements with Santander to finance the expansion of the client's commercial property portfolio. Team head Bruce Stephen has more than 20 years of banking and finance experience, with expertise in areas such as asset-based lending and receivables financing, among various others. Alan Knowles, Marion MacInnes, and managing associates Billy Kay and Fiona Cameron, are also recommended.

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Scotland: Projects, energy and natural resources

Energy (excluding oil and gas)

Within: Energy (excluding oil and gas)

Brodies LLP has a strong market profile in the Scottish renewable energy sector, and it particularly stands out in areas such as onshore wind, hydro, heat and bioenergy. The team, which is jointly led by Keith Patterson and Kirsty Macpherson, is frequently sought-after by clients in the most high-profile matters in the market. Patterson, Roger Cotton and Neil Collar are acting for Grangemouth Renewable Energy Limited in the development of a large biomass combined heat and power (CHP) project and district heating network; this is the largest CHP project, and the first heat-led project, to win a contract for difference (CfD) in Scotland. In 2017, Patterson, Sarah-Jane McArthur, Phil Hunter, associate Alison Polson and others advised three project companies owned by Banks Renewables on the £210m development and financing of a 151MW CfD wind farm portfolio; this matter represented the first CfD onshore wind farm financing. McArthur, construction director Mark Finlay and Michael Stoneham (who is the head of energy and infrastructure finance) are acting for MeyGen in the development of a landmark, first-of-its-kind tidal stream energy project in the Pentland Firth. Alix Bearhop focuses on the real estate aspects of renewable energy projects, while Derek Stroud has more than 15 years of experience of corporate transactions connected with the industry. Associate Claire Reid assists developers and landowners with wind, hydro and anaerobic digestion projects.

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Projects

Within: Projects

Brodies LLP's practice is growing significantly under the joint leadership of Drysdale Graham , who joined from Pinsent Masons LLP in May 2017, and energy and infrastructure finance head Michael Stoneham. Graham's arrival has led to the firm undertaking more work for project sponsors and their funders in projects in the UK and Ireland. It has also led to new instructions from the Scottish market; he acted for bidders in eight out of ten projects in the Scottish government's recent £2.5bn NPD programme, with his clients winning three of those projects. Graham also advised Aberdeen Harbour Board on the procurement of the new South Harbour at Nigg Bay. Stoneham has worked on UK PFI/PPP and NPD projects since 1995; his key clients include Nord LB, Atlantis Resources and M&G Investment Management. Sarah-Jane McArthur, Roger Cotton and others assisted Hub East Central Limited (on behalf of Fife Council) with the delivery contracts for the Glenrothes town centre district heating network, a £20m collaborative project with RWE. McArthur also acted for Indaver as the proposed operating sub-contractor for one of the bidding consortia for the Aberdeen Ness Energy from Waste project. The firm also undertakes projects in sectors such as transport, education, accommodation, housing and healthcare. Keith Patterson, Jackie McGuire, Alistair Mclean , and managing associates Billy Kay, Ali Rimell, and Juliet Haldane, are also recommended.

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Legal Developments by:
Brodies LLP

  • Scottish planning obligations: modification and discharge ‚Äď the story so far‚Ä©

    Planning obligations 1 (formerly agreements), which restrict or regulate the use or development of land, perform a crucial function within the planning system. In Scotland in particular, where the community infrastructure levy has not been adopted, the planning obligation continues to be the primary mechanism for the delivery of much needed local and regional infrastructure through developer contributions, often involving very significant sums. ‚Ä©
    - Brodies LLP

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