Until July 2008, there was no national legislation that governed public utilities projects and more specifically, wastewater treatment projects, financed under the BOT model. In July 2008, the Shenzhen Municipal Government promulgated and implemented China's first set of local rules for build-operate-transfer ("BOT") wastewater treatment projects, the Shenzhen Municipal Administrative Rules for BOT Wastewater Treatment Projects 《深圳市污水处理厂BOT项目管理办法》("Administrative Rules"). In light of the developments since the enactment of the Administrative Rules, the following seeks to provide an outline of the local framework governing BOT wastewater treatment projects in Shenzhen and the impact on the future development of BOT public utilities projects.
George Miller quoted on public-private partnerships. “I'm not convinced private equity has yet figured out how to make money at infrastructure investing,” he said.
Dealing with a settlement in a multi-party dispute can be complicated. The recent case, Siemens Buildings Technologies FE Ltd v Supershield provides a useful summary of the law relating to the recovery of monies from a third party when the defendant has settled with the original claimant(s). As a matter of causation and remoteness, the losing party may recover from the third party the money paid in the settlement if it can establish that: 1) the settlement was reasonable; and 2) the amount paid in settlement was reasonable. Typical considerations relevant to reasonableness include the strength of the claim, whether the settlement was a result of legal advice, the extent of the uncertainty / expenses of litigation, and other benefits of settling the case rather than continuing litigation.
John Schmidt quoted on the privatization of New Orleans airport. “The fact that New Orleans is still recovering from Katrina is an issue that will affect people's valuation,” he said.
Mabey & Johnson Ltd, a British company which manufactures bridge equipment, pleaded guilty at Southwark Crown Court to a series of corruption offences committed overseas and is to pay a total of £6.55m in connection with these offences. On Friday 25 September 2009 the company was ordered by the court to pay £4.6m in fines and disgorgement of profits. In addition, the company has undertaken to pay reparations to the affected countries.
1 September 2009 - Mayer Brown, a leading global law firm, announced today that George K. Miller has joined the New York office as a partner in the Global Projects and Infrastructure Groups. Mr. Miller joins Mayer Brown from another major international law firm where he had concentrated in international and domestic finance and leasing, in particular in the infrastructure, transportation and energy sectors.
Mayer Brown LLP hired partner George Miller as part of the firm’s New York expansion. His practice focuses on project finance and infrastructure. The following news stories covered his joining the firm
In the second edition of our Global Projects & Infrastructure update, we review some of the recent changes
within the firm. Despite the current marketplace, we’re happy to announce the addition of three new partners
to our Global Projects practice. Additionally, our business continues to grow with a broad range of new
assignments across the globe.
12 June 2009 - Mayer Brown LLP, a leading global law firm, announced today that 124 of its attorneys are ranked in the 2009 edition of Chambers USA: America’s Leading Lawyers for Business, including 32 who achieved top-band ranking or higher in 26 national and/or state categories.
On April 3, 2009, the Treasury Department released Notice 2009-26, which provides guidance on the “Build America Bond” provisions of the American Recovery and Reinvestment Act of 2009. Build America Bonds are a new financing tool through which state and local governments can elect to issue taxable tax-credit bonds in lieu of tax-exempt bonds for governmental purposes and expand the universe of investors in municipal bonds.
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