Recent Work

AerCap Joint Venture     Yukos Capital SarL     We acted for AerCap in connection with the establishment of a 50:50 joint venture with Avolon Aerospace Leasing Limited. The joint venture will own three Airbus 330 Aircraft on long term lease to Aeroflot and AerCap will provide the lease management services in respect of these aircraft.     On behalf of Yukos Capital SARL, we obtained freezing and disclosure orders against OJSC Rosneft Oil Company for €470 million so as to enable enforcement of arbitration awards against Rosneft. These included orders which had effect outside the Irish jurisdiction and, for the first time in Ireland, also included orders against the defendant's subsidiaries where these were under the defendant's control. The Russian courts had purportedly set aside the arbitration awards, but did so in circumstances which Yukos contended should persuade the Irish court not to give effect to the Russian courts' orders.     Date : May 2010 Partners :  Hilary Marren                      David Lydon                           Date : April 2010 Value : €470m     Partners :  David Clarke Solicitors :   Fiona O'Beirne                 European ECA     Petroceltic International plc     Acting for the European Export Credit Agencies in relation to the purchase, financing and leasing by an Irish company of three new Airbus aircraft for onward leasing to a Nordic national flag carrier.     We advised Petroceltic International plc in relation to a US$120.5 million conditional placing with both existing and new institutional shareholders, the proceeds of which will be used to support the Company's appraisal programme in Algeria and to fund proposed drilling activities in Italy.     Date : April 2010 Partners :  Catherine Deane                           Date : March 2010 Value : USD$120.5m     Partners :  Barry Devereux                                       CPL Resources Limited     Kenmare Resources plc     Advising CPL Resources Limited on the acquisition of an 80% interest in Servisource Healthcare and Servisource Recruitment to take these companies out of examinership.     We acted for J.P. Morgan Cazenove, Davy, Canaccord Adams, and Mirabaud Securities, the global co-ordinator, sponsor and underwriters of Kenmare Resources plc's STG£180 million capital raising by Firm Placing, Placing and Open Offer.     Date : February 2010 Value : Confidential    Partners :  Paul Heffernan                      Michael Murphy                      Deirdre Mulligan                      Lonan McDowell                           Date : March 2010 Value : STG£180m    Partners :  David Byers                                       Ion Equity     Allied Irish Banks, plc     We advised Ion Equity and other selling shareholders on the sale of SWS Natural Resources Holdings Limited, the operator of Ireland’s second largest wind energy generation business, to Bord Gais Eireann.     We acted for Allied Irish Banks, plc on the Government's €3.5 billion recapitalisation, effected by a subscription by the National Pensions Reserve Fund Commission for 3.5 billion preference shares in the bank. As part of the subscription the commission was given warrants to subscribe for ordinary shares representing 25% of the bank's ordinary share capital at that time     Date : December 2009 Value : In excess of €500m    Partners :  Ben Gaffikin                           Date : May 2009 Value : €3.5bn    Partners :  Barry Devereux                      David Byers                      Julian Conlon                                       Elan     Davy / IFG Group plc     In October 2009, McCann FitzGerald advised the initial purchasers, led by Morgan Stanley & Co. Inc., on the Irish legal aspects of an offering by Elan Finance, plc and Elan Finance Corp., each a wholly-owned finance subsidiary of Elan Corporation, plc. of USD625 million 8.750% Senior Notes due 2016. The notes were listed on the Irish Stock Exchange and were offered for sale in the United States pursuant to Rule 144A and in Europe pursuant to Reg S.     We acted for Davy, as sponsor and underwriter of IFG Group's €50m placing and open offer to finance its class 1 acquisition of James Hay Holdings Limited.     Date : October 2009 Value : $625m    Partners :  Fergus Gillen                           Date : December 2009 Value : €50m     Partners :  Barry Devereux                      Aidan Lawlor                                       Independent News & Media plc     C&C Group plc     We acted for Independent News & Media plc on its announced restructuring, including the agreement of new €745 million banking facilities with its syndicate of banks and the equitisation of the INM Group's May 2009 €200 million 5.75% bonds and related proposed €92.2 million rights issue     We advised C&C Group plc on the Irish aspects of its acquisition of Anheuser-Busch InBev's Irish, Scottish and Northern Irish businesses including the Tennent's lager brand.     Date : Ongoing Value : €945m    Partners :  John Cronin                      Adrian Farrell                      David Byers                      Julian Conlon                      Jane Marshall                      Damian Collins                      Philip Andrews                      Helen Kilroy                           Date : September 2009 Value : €250m    Partners :  David Lydon                      David Byers                      Damian Collins                      Adrian Farrell                                       Davy, Canaccord Adams and Renaissance Securities     Aminex plc     We acted for Davy, Canaccord Adams and Renaissance Securities, the joint brokers in respect of PetroNeft Resources plc's institutional placing which raised USD$27.5million.     We acted for Davy and Astaire Securities plc, placing agents and sponsor (Davy), in respect of Aminex plc's institutional placing and open offer which raised USD$17million.     Date : September 2009 Value : $27.5m    Partners :  Julian Conlon                      Aidan Lawlor                           Date : August 2009 Value : $17m    Partners :  Julian Conlon                      Aidan Lawlor                                       Irish Nationwide Building Society     Marathon Oil Corporation     We acted for Irish Nationwide Building Society ("INBS") in relation to the implementation of their recent landmark €900,000,000 and £500,000,000 note exchange offer. The profit realised from such an exchange, where the existing notes were trading at a discount and exchanged for new notes issued by INBS, was used to strengthen INBS's capital base.     We acted for Marathon Oil Corporation in the sale of its wholly owned subsidiary, Marathon International Petroleum Hibernia Limited, which holds Marathon’s 18.5 percent interest in the Corrib natural gas development offshore Ireland, to Vermilion Energy Trust. The final sale proceeds will range between $235 million and $400 million, subject to the timing of first commercial gas at Corrib. The assets associated with the Corrib development as of year-end 2008 were 98 billion cubic feet of natural gas (16.4 million barrels of oil equivalent).     Date : July 2009 Value : €900m & £500m    Partners :  Julian Conlon                      Hugh Beattie                           Date : June 2009 Value : $235m - $400m    Partners :  Valerie Lawlor                      Colm Fanning                      Michael O'Reilly                                       Marathon Oil Corporation     KPS Capital Partners LP     We acted for Marathon Oil Corporation in the sale of its wholly owned subsidiary, Marathon Oil Ireland Limited, for $180 million to PSE Ireland Limited, a subsidiary of Petroliam Nasional Berhad (Petronas). The assets sold include Marathon's 100pc operated interest in the Kinsale Head Area comprising Kinsale Head, South West Kinsale and the Ballycotton gas fields, as well as an 86.5pc interest in the gas producing Seven Heads field which is tied back to Kinsale. It also includes 100pc interest in the company's gas storage business with current capacity of 7 billion cubic feet.     We acted as Irish counsel to WWRD Holdings Limited, a company newly formed by KPS Capital Partners LP, on its acquisition of certain assets of the Waterford Wedgwood Group.     Date : April 2009 Value : $180m    Partners :  Valerie Lawlor                      Maureen Dolan                      Michael Ryan                           Date : March 2009 Value : Undisclosed    Partners :  David Byers                      Deirdre Mulligan                      Maureen Dolan                      Jane Marshall                      Julian Conlon                      Eamon de Valera