March 22, 2010
Latham & Watkins was named "Project Finance Team of the Year" in International Financial Law Review's (IFLR) 2010 Asia awards. In recognizing Latham's leadership, IFLR singled out the firm's work advising the borrower and sponsors on the refinancing of Senoko Power's senior and mezzanine debt facilities, and for advising the lenders on the Paiton 3 power project which "required the careful drafting of financing documents to ensure that both sets of lenders were protected in the event of either project getting into distress."
The US$1.4 billion Paiton 3 project in Indonesia was awarded "Project Finance Deal of the Year," with IFLR noting that the project used "a challenging financing structure to fund a new project constructed within an existing project complex." Latham advised the lenders on the transaction.
“We are honored to receive this recognition for our project finance practice in Asia,” said Joseph Bevash, Managing Partner of the firm's Hong Kong office. “This accolade, coupled with our leading year-end rankings for 2009, reflect the quality of the client work conducted by our project finance lawyers. We are committed to building on our strong platform in the region and globally to provide the highest quality service and value to our clients.”