find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Freehills across Cross City Tunnel

Freehills across Cross City Tunnel

ABN AMRO/Leighton Construction consortium, represented by Freehills, has completed its purchase of the Cross City Tunnel Motorway in Sydney. The tunnel was originally constructed by a Bilfinger…

ABN AMRO/Leighton Construction consortium, represented by Freehills, has completed its purchase of the Cross City Tunnel Motorway in Sydney.

The tunnel was originally constructed by a Bilfinger Berger Consortium and commenced operation in August 2005 under a 30 year concession granted by the NSW Roads and Transit Authority. The concession holding consortium was placed in receivership in December 2006 due primarily to far lower patronage than expected. In June 2007 the ABN AMRO/Leighton consortium was named by the receiver and manager as preferred purchaser of the tunnel following a competitive tender process. The consortium subsequently was approved by the NSW Roads and Transit Authority as the concessionaire.

The financing and equity package for the consortium’s purchase is highly structured, innovative and complicated. The financing, utilising, amongst other things, credit wrapped debt products, utilised many innovative features. The credit wrapping of the debt products was provided by Financial Security Assurance Inc. The deal was complicated by the innovative financing structure, dovetailing a complicated existing equity holding structure with a new equity structure and the fact that the previous concession holder of the motorway was in receivership.

Freehills partner Brendan Quinn acted for the Consortium in respect of the financing package.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Freehills across Cross City Tunnel
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Quentin Bryce
Oct 18 2017
DV has worsened in a generation: Quentin Bryce
Former governor-general of Australia Dame Quentin Bryce AD CVO has spoken of her deep distress about...
Lawyers
Oct 18 2017
Academics entertain the idea of law without lawyers
Researchers from Queensland will explore some of the most disruptive trends tipped to transform the ...
Please, Continue (Hamlet), Melbourne Festival
Oct 16 2017
Hamlet suffers slings and arrows of top Victorian barristers
Victorian judges and barristers have performed the unique play Please, Continue (Hamlet) at the Melb...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...