Education
-
University of North Carolina at Chapel Hill, J.D., 1984
-
University of Rhode Island, B.S., with honors, 1977
Bar Admissions
|
|
| |
Jay Fortin has over 20 years of experience in project finance, 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, equipment lessors, airlines, developers, and private equity funds in a wide range of domestic and cross-border transactions involving energy and transportation infrastructure, such as power plants and ports, and transportation equipment. He has successfully negotiated numerous joint venture agreements between foreign and domestic parties relating to the acquisition, development, and financing of such assets, and has represented bidders in energy industry privatizations in Latin America and Central and Eastern Europe.
Specifically, Mr. Fortin is experienced with electric power generating facilities and related assets and the acquisition, leasing, and financing of commercial aircraft. He advises both lender/lessors and borrower/lessees in all varieties of structured financing, refinancing, 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 Matters:
Power and Infrastructure Projects
- 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 in a US$100 million loan to the Ministry of Agriculture of Venezuela to finance an irrigation project being constructed by SNC Lavalin. The loan was guaranteed by Export Development Canada.
- Counsel to the concession holder in the development of a large industrial port in Oman.
- 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.
- 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.
Aircraft and Rail
- Outside General Counsel to a 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 company owns and manages a portfolio of more than 60 commercial aircraft and related engines and spare parts on lease to various lessees in the United States, Latin America, and Europe.
- Counsel to a U.S. commercial airline in connection with the acquisition and financing of 35 new Airbus A318 and A319 aircraft and an operating lease for an additional 15 A319 aircraft. The airline was the first in the United States to announce that its fleet would consist entirely of Airbus aircraft. As a result, the transaction generated significant publicity, including a lead article on the front page of the “Business” section of The New York Times.
- Counsel to the New York office of a European bank in the non-recourse financing of railcars for a U.S. operating lessor. The railcars were on lease to various U.S. operators, and the loan was secured by the railcars and assignments of the leases.
- Counsel to the Air Transportation Stabilization Board (ATSB) in connection with the U.S. government guarantee of a US$429 million loan to America West Airlines.
- Counsel to the U.S. seller in the disposition, to foreign and domestic purchasers, of the beneficial interests in eight Boeing commercial aircraft while on lease to major U.S. commercial airlines, including Continental, US Airways, and Northwest. Extensive contacts with lenders and others in the aviation industry helped the client obtain the numerous consents required for such sales.
- Counsel to a Kuwaiti company in the leasing of two Embraer Legacy 135 BJ aircraft from U.S. lessors and the subsequent purchase of one of the two aircraft.
- Counsel to a New York bank as trustee in the groundbreaking conversion of a public equipment trust to a liquidating trust in connection with the bankruptcy of a major U.S. airline and the remarketing of twelve Boeing 727 aircraft.
- Counsel to the lessee/sublessor in a US$75 million U.S. leveraged lease of an MD-11 freighter.
- Counsel to the new lender in the assignment/ refinancing of a US$26 million facility for a railroad used to carry coal, as part of a project financing for a coal-fired power plant in upstate New York.
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
|
|
|