Ince & Co has announced today that it represented Transocean Drilling UK Limited (“Transocean”) in its successful appeal against Providence Resources Plc (“Providence”).

The English Court of Appeal today handed down judgment on the construction of a consequential loss clause in a drilling contract between Transocean and Providence, in a decision with potentially far reaching implications for the energy industry and commercial parties generally. In doing so it has given guidance on how consequential loss clauses should be interpreted generally.

Slaughter and May recently advised Genel Energy plc in connection with Genel Energy Holding Company Limited's (the Company) reverse tender offer to holders of Genel Energy Finance plc's Oslo-listed USD730 million GENEL01 PRO senior unsecured callable bonds (the Bonds). The Company repurchased a nominal amount of USD55.4 million of Bonds at a price of 63% of par value plus accrued unpaid interest.

Contacts

Corporate and Commercial: Nigel Boardman (partner), Richard Marron (associate)

Baker & McKenzie advised Ise Total Nanao Power Plant G.K. of ISE FOODS group (ISE Group), the business operator of the project, on the construction of a 27-megawatt-peak (MWp) photovoltaic mega solar power plant in Nanao City, Ishikawa Prefecture, Japan. This is one of the ongoing solar power projects undertaken by ISE Group. The project is sponsored by ISE Group, the largest egg producer in Japan, jointly with Total, a major French oil company, and SunPower, a US-based leading solar technology provider in which Total acquired a majority stake in 2011.

DLA Piper has advised Yü Energy, a Nottingham-based independent supplier of gas and electricity, on its admission on the AIM market of the London Stock Exchange, and its successful fundraising of £7.5 million.

Yü Energy is an independent supplier of gas and electricity focused on servicing small and medium enterprises throughout the UK. Over the past few years it has experienced strong growth and the funds being raised will enable the company to accelerate their growth strategy and further expand their operations across the UK.

De Brauw acted as lead counsel on behalf of VTTI in arbitration proceedings regarding the new EUR 300 million VTTI terminal project in Vasiliko, Cyprus. The arbitration takes place at London Court of International Arbitration (LCIA) in according English law. De Brauw is also participating in VTTI’s global development program for VTTI’s project directors, project managers and legal counsel on the subject of contracting for international construction projects on the FIDC standard.

Herbert Smith Freehills has advised CGN of China on the completion of its US$2.3 billion acquisition of the energy assets of Edra Global Energy Berhad.

The assets include interests in 13 power plants in Malaysia, Bangladesh, Egypt, Pakistan and the United Arab Emirates, representing a total generating capacity of over 6,620MW.

The transaction closed on 23 March, only four months after the announcement of the deal.

The completion of this US$2.3 billion transaction represents:

IJGlobal has recognized the Project Development & Finance Practice of Latham & Watkins for advising on five market-making 2015 “Deals of the Year” spanning diverse markets at the annual IJGlobal Awards. According to the project finance and infrastructure journal, the IJGlobal Awards recognize “outstanding transactions and institutions from the world of infrastructure finance” across the Americas, Europe, Africa, the Middle East and North Africa, and the Asia-Pacific region.

The honored projects included:

We act as lead counsel to Gasum and its subsidiary Skangas in their acquisition of the Risavika LNG production plant in Norway from Lyse Group. 

Global law firm Norton Rose Fulbright has advised Akwa Group, a leading Moroccan energy, infrastructure and development business, on its negotiations of its shareholders’ agreement with APM Terminals (APMT), a Dutch port company and subsidiary of Danish company Maersk, in relation to Container Terminal 4 (TC4) at Tanger Med 2 port complex in Morocco.

Solvay, Caisse des Dépôts et Consignations, and Marubeni Europe plc, have expanded their partnership in industrial energy efficiency with two new projects to finance and operate cogeneration plants at Solvay’s facilities in Tavaux (France) and in Spinetta (Italy).