Air finance capability boosted
5 October 2009
International law firm Stephenson Harwood has grown its finance team by hiring Richard Parsons as a partner. Richard joins from Freshfields, where he was 'Counsel', and specialises primarily in financing and leasing transactions in the aviation market. This latest addition to the team demonstrates Stephenson Harwood's continued commitment to grow the asset finance practice as one of the very few international firms who are market leaders across all three key transportation sectors – aviation, rail and shipping.
Richard has spent his career with Freshfields, having joined in 1995. He has extensive experience of transactional asset finance work, including complex loan financings, leasing transactions, restructurings and work-outs, leasing company acquisitions and disposals, and structured tax leasing transactions, with a particular focus on the aviation financing and leasing sector. He has worked closely with lenders such as DVB Bank and Bayerische Landesbank, as well as with airlines such as China Eastern and Philippine Airlines. He also led the Freshfields teams working on the aircraft-related aspects of the administration of the XL Group and on the restructuring of Air Canada’s European ECA-supported financing transactions.
"Stephenson Harwood has a world class reputation in the asset finance market and I am delighted to be joining a firm with such a high degree of commitment to this practice area" said Richard. "The fact that the Stephenson Harwood asset finance practice is established, successful and in growth mode was important in my decision to join the firm."
Richard's appointment reflects Stephenson Harwood's commitment as a leading adviser to the aviation industry and he joins a highly respected team of over 20 lawyers worldwide whose combined aviation experience extends to finance, corporate/commercial, mergers & acquisitions, insolvency/restructuring, contentious and regulatory work.
Mark Russell, Head of Finance at Stephenson Harwood commented "Richard brings greater strength to our aviation finance practice. His recruitment follows that of Paul Ng earlier this year who was also recruited from Freshfields and brought in to head up our Global Aviation practice".