Watson Farley & Williams

💡 In this edition of Commercial Disputes Weekly we consider the first decision by the Supreme Court on the meaning of “construction contract”, as well as judgments on agency, novation and interest provisions. Read more here: https://lnkd.in/eNrM9fkx   #WFW #DisputeResolution #Construction #Maritime

The Court of Appeal has clarified the criteria by which the secretary of state should make decisions on liability for cladding remediation, and when developers might reasonably challenge them.   In her latest article for Building Magazine, Dispute Resolution Partner Theresa Mohammed examines the recent decision in R (on the application of Redrow plc) vs Secretary of State for Levelling Up, Housing and Communities, which raises issues as to the proper operation of the Business Safety Fund.   Read the full article here (subscription required): https://lnkd.in/em3GqVaX   If you have any questions on the new building safety regime, please reach out to Theresa or your usual WFW contact.   #BuildingSafetyAct #Construction #DisputeResolution #WFW #Infrastructure

In February 2022, our long-standing and much-loved Singapore Office Head Mei Lin Goh sadly passed away from cancer. In her memory, we established the Mei Lin Goh Study Abroad Scholarship with the University of Nottingham, where Mei was a School of Law alumna. Our second recipient, Casey Sonnet, has just completed his scholarship in Singapore – congratulations to Casey! It was a pleasure to have Casey intern with us over the past year, and we are delighted he felt that the experience supported his development and furthered his interest in our core sectors. See some photos below of his time with us. We are pleased to have been able to financially contribute and support Casey’s academic progress and career aspirations in maritime law, aviation law and energy arbitration in his third year studying at the National University of Singapore, as part of his four-year Law with South-East Asian Law degree programme. #WFW #Scholarship #People

🛳 Our Athens Assets & Structured Finance team are thrilled to have advised ABN AMRO Bank N.V. (ABN AMRO) and ING N.V. (ING) on a US$245m term loan facility granted to Tsakos Energy Navigation Ltd (TNP) for the financing of a fleet of tanker vessels.     We acted as lead counsel on the transaction and assisted ABN and ING throughout the life cycle of the transaction, from the negotiation and execution of the facility to the delivery of each vessel.   Well done to the team which includes Partner and Athens Office Head Alexia Hatzimichalis, supported by Senior Associate Pavlos Maris and Associate Vassia Angeletaki.     Find out more: https://lnkd.in/eAXrxNA5   #WFW #TankerVessel #AssetFinance

🚢 Read our latest article where London Partner Charles Buss discusses the practical and legal implications of the recent decision in King Crude Carriers SA & Ors v Ridgebury November LLC [2024] EWCA Civ 719. The court held that the buyers under an MOA could not rely on their breach of an obligation to provide documentation to prevent the deposit falling due. Click here to find out more: https://lnkd.in/eDpGCg4t #WFW #Maritime #MOA

Our cross-border Energy team are very happy to have advised BELENERGIA S.p.A. (Belenergia) on an €190m equity investment received from For Talent Transmission SAS (“FT”) and RGREEN INVEST, via its Infragreen V fund, to develop its existing pipeline of renewable projects and further strengthen its position in the Italian and European green energy market. This is one of the largest IPP capital increase in Italy. We acted as Belenergia’s Italian legal counsel on all aspects of the transaction, including the vendor due diligence process, competition and tax analysis and negotiating the investment and new shareholder agreements and all related ancillary documents. The team was led by Corporate Partner and Italy Head Eugenio Tranchino, supported by Counsel Arianna Neri, Senior Associate Giovanni Benedetto and Associates Francesco Vanzaghi and Sonia Basso. Senior Associate Alfredo Guacci Esposito and Associate Marianna Telesca advised on tax law. French law expertise was provided by Paris Corporate Partner Guillaume POUYET and Associate Mohamed Douib. Read more: https://lnkd.in/ex8GgfAW #WFW #Renewables #GreenEnergy

🛳 We are delighted to have advised Attica Holdings SA (ATTICA) on the negotiation of bareboat charter documentation with Stena Bulk International S.A. (Stena) for two E-Flexer vessels being built by Stena at the China Merchants Jinling Shipyard (Weihai) Co., Ltd with a purchase option. Delivery scheduled for April 2027 and August 2027.   The two new vessels with an overall length of 240m, are the largest RoPax vessels ever ordered by a Greek shipping company with engines designed to optimise fuel consumption. These vessels will reduce Attica’s overall environmental footprint through fleet renewal by cutting GH emissions per transport work by 60% compared to existing vessels.   Our Athens Assets & Structured Finance team that advised Attica was led by Partner Christina Economides supported by Senior Associate Haris Kazantzis.   Read more by clicking here: https://lnkd.in/e823FXpS   #WFW #Ferry #Maritime

✈ Thank you to everyone who joined us for our joint webinar on “Sustainable Aviation Fuels (SAF)” with KGAL GmbH & Co. KG (KGAL) yesterday.   It was an excellent event breaking down the entire value chain of SAF, including analysis of the market, producing eSAF and the role of SAF certificates, with a great lineup of esteemed speakers at the forefront of the energy transition. Special thanks to our Partners Dr. F. Maximilian Boemke and Dr. Dirk Janssen and speakers Antoine Dupuy and Thomas G. Engelmann, CFA, CAIA (KGAL), Dr. Holger Haaf (Uniper), Amy Hebert (Arcadia eFuels), Maximilian Held (SYSTEMIQ Deutschland GmbH), Margaux Torreilles (SkyNRG) and Jan Pechstein (Lufthansa Group) for their invaluable insights.   We hope you found the discussions insightful. If you missed it, stay tuned for the recording on our YouTube channel soon! https://lnkd.in/dBYGEjy #WFW #AviationIndustry #Sustainability #SAF #eSAF

📣 Important update on the "Decree on Eligible Areas" that came into effect on 3 July 2024.   The decree, drafted by the Ministry for the Environment and Energy Security (the Mase) in agreement with the Ministry for Culture and the Ministry for Agriculture, Food Sovereignty and Forestry, sets up the parameters to identify surfaces and areas eligible for the installation of renewable energy plants.   In particular, it aims to allocate power between regions and autonomous provinces and establish common principles and criteria to identify eligible surfaces and areas.   In our latest article, we examine the new provisions in detail, including their impact on ongoing procedures. Written by Italy Partners Tiziana Manenti and Luca Sfrecola, Associate Marco Umberto Iannotti and Trainee Alice Zago, read it here: https://lnkd.in/ekuGZN4V   #WFW #RenewableEnergy #Power

📰 Spain wants to be the lungs of Europe in green energy production, with 50.3% of its energy coming from renewables in 2023. However, energy storage is key for the country to become the engine of renewable sources. In the Spanish publication Cinco Días, Partner Luis González emphasises the need for simplified administrative procedures to expedite permits, especially for incorporating storage facilities into existing and planned renewable plants. To find out more, read the full article here: https://lnkd.in/dR3pfupg #WFW #Renewables #EnergyStorage