Education
-
University of North Carolina at Chapel Hill, J.D., 1984
-
University of Rhode Island, B.S., with honors, 1977
Bar Admissions
|
|
| |
Jay Fortin's UAE mobile number:
+971-50-438-2196
Jay Fortin has over 20 years of experience in project finance; the development, acquisition, and financing of power generating facilities; ports and other energy- and transportation-related infrastructure; aircraft and railcar leasing and financing; secured lending; structured trade and commodity finance; and cross-border investment, with particular emphasis on the energy and transportation industries.
Mr. Fortin represents foreign and domestic banks and financial institutions, private equity funds, developers, contractors, and equipment lessors in a wide range of domestic and cross-border transactions and has successfully negotiated numerous shareholder, partnership, joint venture, and other similar agreements between parties to such transactions. He has also represented such parties as bidders in energy industry privatizations in Latin America and Central and Eastern Europe.
In addition to structuring, negotiating, and documenting ownership arrangements and financing agreements, Mr. Fortin is experienced with engineering, procurement, and construction contracts; operating agreements; fuel supply agreements; off-take agreements; and other key contracts relating to infrastructure assets. He also regularly advises lenders, owner/lessors, and borrower/lessees in refinancings, workouts, and restructurings with respect to such assets.
Mr. Fortin frequently speaks on cross-border investment issues at international conferences and has written articles for project and trade finance publications.
Representative Power and Infrastructure Projects
- Project counsel in the development and project financing of a 110MW barge-mounted electric power generating plant in Bangladesh, sponsored by a consortium consisting of two major US independent power developers and the development subsidiary of a major European power generation equipment manufacturer, with financing provided by Overseas Private Investment Corporation (OPIC).
- Counsel to a European bank as the issuer of more than US$250 million of letters of credit in connection with the restructuring of independent power projects located in Europe, Mexico, and the United States.
- Counsel to the trustee in the securitization of a US$400 million portfolio of non-recourse loans made by International Finance Corporation (IFC) to projects in Latin America and Asia.
- Project counsel for the project financing of an 830MW gas-fired electric power generating plant in Texas.
- Counsel to the U.S. branch of a European bank as administrative agent and lender in a US$100 million loan to the Ministry of Agriculture of Venezuela to finance an irrigation project being constructed by a Canadian construction company. The loan was guaranteed by Export Development Canada.
- Counsel to the concession holder in the planning, development, and construction of a large industrial port in Oman. Developed and negotiated all necessary agreements, drafted port rules and regulations and all required licenses, easements, and rights of way for gas distribution, pipelines, temporary lay-down areas, etc. and advised the concession holder with regard to commercial issues and disputes with tenants.
- Representation of a UK electric distribution company in the acquisition of a 52% interest in a Czech district heating company.
- Counsel to a U.S. power developer in connection with the proposed refurbishment of a 200MW coal-fired electric power generating station in Central Europe.
- Counsel to a U.S. independent power developer in a successful US$130 million bid for a controlling interest in a Hungarian electric power generation company, as part of the privatization of the Hungarian electric generation industry. Met with representatives of the government to provide comments on bid documentation; conducted legal and regulatory due diligence with local counsel; negotiated the form of share purchase agreement and power purchase agreement and advised on bid compliance issues.
- Counsel to a Venezuelan engineering and construction contractor in the negotiation and documentation (and restructuring, working-out, and/or winding down) of numerous joint ventures with large U.S. and European equipment vendors, engineering companies, and commodities trading companies for the engineering, construction, and operation of oil and chemical processing and handling facilities.
Representative Aircraft and Rail Transactions
- Counsel to a US commercial airline in connection with the acquisition and financing of 35 new Airbus aircraft and an operating lease for an additional 15 aircraft. The airline was the first in the US to have an all-Airbus fleet, and the transaction generated significant publicity as a result, including a lead article on the front page of the “Business” section of The New York Times.
- Counsel to a newly formed aircraft leasing company formed by the former creditors of a large international aircraft operating lessor in connection with the restructuring of the operating lessor’s indebtedness. The new company owned and managed a portfolio of 60 commercial aircraft and related engines and spare parts and leased and sold aircraft, engines, and parts to airlines in the US, Latin America, and Europe.
- Counsel to the Air Transportation Stabilization Board (ATSB) in connection with the US government guarantee of a US$429 million loan to a large US airline.
- Counsel to the New York office of a European bank in the non-recourse financing of railcars for a US railcar operating lessor while the railcars were on lease to various US operators. The loan was secured by the railcars and by assignments of the leases.
- Counsel to the seller in the disposition to foreign and domestic purchasers of the beneficial interests in eight Boeing commercial aircraft while on lease to several major US airlines. Extensive contacts in the aviation industry helped the client obtain the numerous consents required for such sales.
- Counsel to the new lender in the assignment/refinancing of a credit facility for the financing of a railroad used to carry coal, as part of the project financing of a coal-fired power plant in upstate New York.
- Counsel to the lessee/sublessor in a US$75 million leveraged lease of an MD-11 freighter.
Professional Affiliations:
New York State Bar Association, International Law and Practice Section
Association of the Bar of the City of New York, Project Finance Committee
United States Council for International Business, Economies in Transition Committee
|
|
|