We recognise that financial close on a project is not the end of the process but rather the beginning of the real work. A number of our lawyers have worked in-house and are able to bring to bear the skills and experience they developed in-house to provide a practical and commercially focused service for local authorities, project companies and contractors in relation to post close matters. This includes interpretation of contract provisions, providing training on the key obligations for managers, operatives and monitors in the “front line” and advising on disputes (and how to avoid them). One key service we offer is a 24 hour helpline to provide immediate assistance as and when an issue arises.
In addition, we have experience within our team of advising in relation to the documentation relevant to equity providers. We act for a number of equity providers both in projects currently being procured and in relation to post financially closed projects. For example, we have recently advised an equity investor in a PFI project in relation to its disposal of its shareholding.
We have been retained by the majority of consortia and Authorities where we have advised on the procurement of the project in relation to post financial close matters. The most common ongoing advice we give is in relation to variations. In the last year we have advised on a number of major variations including the construction of a leisure facility at a school. We are also regularly consulted by Project Companies, Authorities and Sub-contractors in relation to contract interpretation matters and in relation to disputes.