We have advised on the first voluntary termination and the first default termination of a PFI scheme as well as a number of subsequent PFI terminations.
We thoroughly review the existing PFI contract to identify the right to terminate, and quickly mobilise to develop a bespoke termination strategy for our clients.
We effectively engage in negotiations with Project Co to facilitate direct and transparent communication, seeking to maximise cost-saving opportunities for our clients, and ensure a smooth transition of assets post-PFI.
We draft bespoke termination notices and settlement and transfer agreements, as well as provide clear advice regarding the cost implications of termination.
In the event of a dispute, our multi-disciplinary team can confidently navigate the complexities of formal proceedings and support the swift resolution of contentious issues.
- Identifying Project Co Events of Default and assisting clients to either preserve or exercise termination rights arising from Project Co’s breach
- Advising clients on the consequences of termination, including contractual timescales and practical considerations to ensure continuity of services and staff on termination
- Drafting due diligence questionnaires prior to termination to address a range of practical matters relating to termination (e.g. information relating to maintenance, lifecycle and transfer of staff, including pensions information)
- Drafting and serving compliant termination notices
- Advising clients on the Compensation on Termination provisions, including amounts entitled to set off any potential payment to Project Co
- Coordinating experts and counsel to support clients’ positions regarding Compensation on Termination
- Attending without prejudice meetings with clients, Project Co and funders to seek amicable resolution
- Representing clients at mediations seeking to settle disputes relating to Compensation on Termination
- Representing clients in formal legal proceedings relating to Compensation on Termination.