The following Construction practice note Produced in partnership with Victoria McGie provides comprehensive and up to date legal information covering:
The Public Private Partnership (PPP) models are a popular way for governments to involve private investment, expertise and risk in procuring infrastructure, with the potential to deliver a project more efficiently and economically. One of the most popular PPP models for procuring infrastructure projects is Build Operate Transfer (BOT). The details of a BOT model vary depending upon the nature of the project. Generally speaking, a BOT involves the following:
a government (in the form of a government body or local authority) requires new public infrastructure facility, such as a road or energy facility
typically a consortium of private entities (often including financers, construction contractors and O&M contractors) forms a special purpose entity (often called Project Co)
Project Co and the government enter into a concession agreement, which sets out the terms upon which it will procure and operate the facility and be entitled to revenues
obtains finance for the project
procures the design and construction of the facility, often under an EPC/Turnkey contract or possibly an EPCM (Engineering, Procurement, Construction Management) arrangement
procures the operation and maintenance of the facility for the concession period (typically between 10–30 years), under an O&M agreement
collects facility revenue during facility operation, either directly from users or government
uses revenue to service debts and circulate profit to investors
transfers the facility (where applicable) and operation
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This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
Fraud by false representationFraud by false representation applies to a broader range of conduct than the offences under the preceding legislation (the Theft Act 1968 (TA 1968)). No gain or loss need actually be made, and no deception need operate on the mind of the deceived for the Fraud Act 2006
This Practice Note considers proprietary estoppel from a generic standpoint.For industry specific guidance on proprietary estoppel, see Practice Notes:•Estoppel and property law•Mortgages by estoppelProprietary estoppel—what is it?Unlike the other forms of estoppel (see Practice Note: Estoppel—what,
Coronavirus (COVID-19): During the current pandemic, legislation and changes to practice and procedure in the courts and tribunals have been introduced, which affect the following:•proceedings for possession•forfeiture of business leases on the grounds of non-payment of rent•a landlord's right to
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