Akin Gump Strauss Hauer & Feld
5 Experts
2 Contributions by Akin Gump Strauss Hauer & Feld Experts
PRACTICE NOTES
Introduction to project finance structures
This Practice Note explores what ‘structure’ signifies within a project finance deal and flags the principal considerations that shape how such transactions are put together. It examines the Azura Edo independent power project in Nigeria (Azura Edo IPP) as a detailed case study, using it to highlight and clarify several recent, inventive structuring approaches in project finance that have been deployed successfully to address specific risks and hurdles. It is not a primer on project finance and therefore presumes readers have a basic grounding in the subject. For a starting point on project finance, see Practice Note: Introduction to project finance. The emphasis here is on construction financings—that is, brand‑new schemes built from the ground up (often called ‘greenfield projects’)—rather than the disposal or acquisition of already operating assets (commonly known as secondary market
Banking & Finance
PRACTICE NOTES
Insured M&A transactions—a tax lawyer's guide
This Practice Note considers the practical matters a tax lawyer should assess when advising on a share sale M&A deal where one party plans to obtain either warranty and indemnity (W&I) insurance or tax risk insurance. W&I cover can be put in place by the buyer or the seller to address losses arising from:
breaches of the seller’s warranties, and
claims under the indemnities in the acquisition agreement (or warranty deed) and/or the tax covenant (if included).
Tax risk insurance is intended to protect the insured against a particular tax exposure connected with the transaction. In broad terms, W&I insurance responds to unknown risks, while tax risk insurance covers a known contingent tax liability.
For an outline of the risks each product will cover, and the procedure for arranging a policy to address those risks, see the
Tax
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