Public Private Partnerships.
Meredith Connell’s Public Private Partnerships (PPPs) team combines unmatched experience in mature and developing PPP markets with local knowledge to deliver successful public projects at a local and national level.
Our team members have acted for governments, lenders, sponsors and bidders on contracts for projects in a wide variety of sectors - from long-term partnering agreements for urban developments, to multi-billion-dollar concessions and off-take agreements for transport, social infrastructure, and energy and gas projects.
International Best Practice Applied Locally
We have one of New Zealand’s leading experts in PPPs and concession-based and other risk-sharing arrangements, Mark Godfrey. Mark brings substantial experience advising governments, private clients and lenders on nationally significant infrastructure projects in the United Kingdom, the Middle East and elsewhere.
Mark was listed as one of six leading lawyers advising on PPP projects in the Middle East by Middle East Economic Digest and was noted in 2013’s Legal 500 for his expertise in infrastructure projects.
New Zealand’s Leaders
Meredith Connell has an outstanding record in advising clients on the successful delivery and long-term management of large public construction and social infrastructure projects across New Zealand, whether by way of concession agreements, shared-use agreements or other risk-transfer mechanisms.
We advise on all aspects of the complex risk-transfer structures and specialised subcontracting arrangements required by PPPs, including realistic assessments of the bankability and affordability of risk allocation for parties; interface and indemnity arrangements; termination and compensation and technology transfer.
MANAGING RISK AND REALISING VALUE
On the funding side, we have advised senior and subordinated lenders on a wide variety of projects and understand the particular concerns that lenders have in PPP transactions.
Unlike other advisors in this space, we understand it’s not enough to simply identify potential risks. What’s important is the ability to understand how likely it is those risks will actually occur and what the real consequences would be for our clients if they do.
Having sat on both sides of the table, we know our clients’ interests won’t be lost in translation when the public and private sectors meet. We clear obstacles and realise value.
Our broad PPP experience includes
Representative examples of PPP transactions which our lawyers have advised on include:
- The Ministry of Education in relation to the development of a PPP model in New Zealand
- Various tenderers with regard to proposed PPP projects in New Zealand
- A Middle Eastern government on the establishment of a multi-billion-dollar highways PPP programme
- The lenders on the concession agreement aspects of the $4 billion refinancing as part of the London Underground PPP project
- The lenders to the successful bidder for the London Underground (Jubilee, Northern and Piccadilly lines) PPP project
- The project sponsors on the construction arrangements for a $2 billion mixed military and commercial-use satellite project
- The project sponsors on a $1 billion university development PPP project
- The successful bidder on the construction contracts and operation and maintenance agreements for the $280 million North Cornwall Waste PPP project
- The lenders on the construction arrangements for the $200 million Leeds Combined Secondary Schools PPP project. The project sponsors on a $1 billion university development PPP project
- The successful bidder on the construction contracts and operation and maintenance agreements for the $280 million North Cornwall Waste PPP Project
- The lenders on the construction arrangements for the $200 million Leeds Combined Secondary Schools PPP Project