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Summary
Michael Kenny joined Watson, Farley &
Williams in 1991 and specialises in all types of international finance.
His particular area of practice is project and trade finance with businesses
operating in the transportation, energy and commodities sectors. During
his years in legal practice, Michael has worked in London and also in the
Middle East (Bahrain), Hong Kong and New York.
Recent Experience
- Advising a variety of creditors including
African Export-Import Bank and Ericsson as lenders to Vmobile Nigeria on
an EPC project financing of a GSM mobile phone network in Nigeria. This
transaction involved a consortium of 16 leading Nigerian financial institutions
and 6 offshore lenders providing facilities in several phases which will
ultimately reach approximately US$1bn. This ground breaking multinational
transaction, allowed Vmobile’s ambitious network rollout to proceed. The
complex financing arrangements for this deal involved the establishment
of a global loan and security structure which will permit future financing
plans to be completed efficiently and in a timely manner. The WFW team
is also currently advising on further debt financings for Vmobile provided
by Ericsson and Nordea Bank. This deal won the Project Finance EMEA Telecoms
Deal of the Year 2006 - Source; Project Finance Magazine)
- Advising a number of maritime industry
corporate and lender clients on all types of secured and unsecured financing
arrangements, including ship financings, lease structures and securitisations
of newbuilding contracts and of container receivables; these include ship
financings of Indian flag vessels for Great Eastern Shipping and Chowgule,
with IFC support
- Advising borrowers/lenders on the project
financing of wind farms in Italy, Greece and Germany
- Advising the arranger on a proposed
acquisition/project
financing of a Turkish port, including minimum throughput commitments from
a container operator
- Advising the arranger on a US$88m 685MW
project financing for the Ibom Power Project in Akwa Ibom State, Nigeria
- Advising Royal Bank of Canada on a US$260m
structured US/Norway synthetic lease financing of a drilling rig
for use in the Gulf of Mexico
- Advising Vivendi on a £88m project bond
issue for a waste-to-energy project in Birmingham, based on PPP style commercial
contract with the public authority and supported by FSA monoline insurance
policy
Education and Qualifications
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1985
| The College of Law, Chester
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1971 - 1974
| BA Hons Modern History; MA; Magdalen College,
Oxford
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Published Materials
Contributor to legal journals on international
finance, including "International Financial Law Review",
"International
Business Lawyer", "Trade and Forfeiting Review"
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May 2000
| Ports and Project Financing; Lloyds Shipping
Economist
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February 1999
| Trade’s Security Maze; Trade and Forfeiting
Review
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December, 1996
| Risk Allocation in Project Finance; Middle
East Commercial Law Review
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July 1996
| Solving the Puzzle of Cross-border Securities
Pledges; co-author with Peter Smedresman, International Financial Law Review
(Reprinted in Asia Law, October 1996)
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November, 1994
| Banking and Financial Sectors in East and
Central Europe; review in International Business Lawyer
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| Contributor to Export Trade; articles on
Islamic Finance, Trade Finance, Agency Agreements in Saudi Arabia, US Sanctions
in relation to trade with Cuba
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| Contributor to Credit and Finance Law;
articles on environmental provisions in loan documents, on financing
documentation
generally and on distressed debt trading
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| International Payment Obligations; Legal
Opinions in International Transactions; Journal of International Banking
Law - International Financial Markets |
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