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Antigua |
 |
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Healthcare - Retained by the Office of the Prime Minister to carry
out a benchmarking study on the planned
capacity of the new Mount St John General
Hospital; to review and pronounce on the
competitiveness of private sector credits to
the project; to assess the capacity of the
National Medical Benefits Scheme (Universal
Medical Insurance Programme) to fulfil its
financial obligations under the loan
agreements contracted by the Government to
finance construction of the Hospital; and to
make recommendations on alternative and
supplemental means of financing
construction, equipping and operating the
hospital facility (2000-2002).
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Aruba |
 |
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Aviation - Advisors to
the Aruban Government on the successful
rescue of Air Aruba, the national airline,
including the process of assumption of
control by Government, recruiting a new
management team, complete renegotiation of
all debt, negotiation with aircraft
manufacturers and airliner leasing groups
for the re-equipment of the airline’s fleet
of aircraft, and recovery to viability in
preparation for privatisation (1993 - 1998). |
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Debt Restructuring;
Advisors to the Government on management of
state borrowings from the NIB of the
Netherlands and divestment of three Italian
(SACE) and Dutch export credit guaranteed
private sector hotel projects rescued by
Government and successfully resold. |
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Financial
- Assistance to the Government in developing
a new banking law for the AVV
corporate entity and the new bank
supervision agency (acting as members of the
Government’s Joint Financial Sector
Commission) (1994/5). |
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Planning - retained by the Office of the Prime Minister for advice
on the strategy for tourism sector expansion
(1988-1997).
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Desalination Plants - Aruba; Water
& Electricity Board (“WEB”)1996/7. Curacao;
Aqualectra (1987). |
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Brazil |
 |
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Appraisal with Latinvest / Banco Icatu of
tactical options, resource requirements and
privatisation process in preparation for
advising BNDES, Brazil, on the privatisation
of Embraer (1992/3). |
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Advice
and preparatory work on the proposed
Brazil/Guyana highway from Boa Vista to
Lethem (1992). |
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Curacao |
 |
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Hato Airport, Curacao:
financial advisor to Curacao Airport Holding
on behalf of the Government in connection
with the successful acquisition of control of the
airport Concession from Alterra by A-Port, a
consortium controlled by Zurich Airport and
Camargo Correa of Brazil |
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ALM - assistance in the
recovery of blocked foreign currency assets
of ALM (1987). |
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Curacao Port Authority
- advisor on foreign joint venture
partnerships (1995). |
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CDM
Curacao Dry Dock– advice on
international dry dock partnerships (1995). |
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Curacao - assistance to the Island Government in planning and
hosting a Trade Mission to London (1986 –
1988).
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Advice on structuring of the acquisition of
two Guyanese rice estates by a Surinamese
company for processing in Curacao and
re-export to Europe. |
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Assistance to Curinta NV on the recovery
of outstanding amounts in respect of certain
airline charges at Hato Airport and
successful recovery of all balances due to
the airport company (1987-1989) |
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CDB |
 |
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Caribbean Development Bank, assistance to UBS, the
lead manager of the successful Bond issue
for the CDB in 2004 and more recently the
US$120 million Note issue in October 2009 |
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Commonwealth Secretariat |
 |
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The Commonwealth Secretariat -
retained by the British Commonwealth
Secretariat to co-author and present a
working paper entitled "Dealing with
Sovereign Debt in Distress: Some Key
Financial and Legal Aspects" at the 2004
Commonwealth Finance Ministers Forum in St.
Kitts.
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Dominican Republic |
 |
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CFAS advised on options for the
restructuring of the state sugar company
(1993/4). |
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El Salvador |
 |
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Power Sector –
successful private placement of a
controlling interest in the share capital in
the course of privatisation of the national
electricity utility (1994/5). |
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Guatemala |
 |
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Assistance to the Government team in
designing the successful programme for
exchanging foreign trade arrears for high
yield domestic Quetzal denominated debt.
This was tradeable and enabled local
investors effectively to buy out foreign
debt. The programme also included study of
the option for local investors to use such
paper in payment for shares in
privatisations. |
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Guyana |
 |
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Demerara Bauxite Terminal,
Guyana - Structuring a financing for the
terminal, at the time, the first foreign
financing by a Guyanese entity for nearly
ten years (1990). |
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Water: New Amsterdam,
Guyana - Advisors on the water system
rehabilitation project, financed by the
European Development Fund (1991/2). |
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Cheddi Jagan Airport, Timehri,
Guyana
– advisors to the Government on securing and
negotiating a management contract by BAA
(1988/1990). |
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Guysuco
– Advisors to the Government for the
management restructuring and rehabilitation
programme after the 1989 sugar crop nadir of
123,000 tonnes to recovery by 1992 back to
the range of over 200,000 tonnes. Drafting
terms of reference and supervision of work
on the World Bank and UK ODA supported
Booker Tate development plan for Guysuco;
2000-1: work on funding plans for the
new sugar mill at Skeldon now implemented
with multilateral funding. |
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Guyana – Brazil;
Advisors to the Government of Guyana in
connection with the debt swap between the
two countries to eliminate some of the debt
between the two countries, offset some, and
transform the residual balance into quoted
Bonds |
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Rice
– Advisors to the Government on the
privatisation of the state rice estates and
mills. |
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Export Programmes
-
advised the Government on Caricom export
development programmes through three
Caribbean Central Banks to help reduce
Guyana’s Caricom debt (including two
projects involving Demerara Distillers). |
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Mining
-Advisors to the Government on planning and
detailed negotiation of SYSMIN financing
from the EU for the bauxite industry. |
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Mining
– Advisors to the Government on the sale of
the Berbice bauxite mining operations of
BIDCO to Reynolds Aluminum and financing of
a new investment programme. |
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Telecoms
- Advisors to the Government on the
telecommunications sector privatisation
(1991/2). |
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Guyana 1982-2001 Retained by the State Planning Secretariat and
Office of the President for advice and
management of government teams from several
Ministries working on the IMF and Caribbean
Development Bank programmes, state sector
restructuring and divestment programmes.
|
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Jamaica |
 |
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Highway 2000:
the first major private sector highway
development in the Caribbean (1999 and
continuing).
Retained by the Development Bank of Jamaica
and Office of the Prime Minister to advise
on the development,
structuring of the international tender
process, and project
management/coordination, jointly with UBS,
of a substantial team of advisors, for a
US$1,200m 35 year toll highway concession,
now launched by the successful
concessionaire, Bouygues. The entire process
from inception of the tender to execution of
the first phase
was successfully completed in a record time
of 24 months. The project has now passed
its third construction phase and financings
to date total just under US$500 million. |
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|
Sangster International Airport, Montego Bay,
Jamaica –
1998/2003 - retained by the National
Investment Bank of Jamaica for assistance,
jointly with UBS, in structuring the project
and the international competitive tender
process for a 30 year concession for the
second largest Caribbean airport, Sangster
International Airport at Montego Bay.
Assistance in negotiations with the selected
consortium (YVRAS of Vancouver, Dragados of
Spain, Agunsa of Chile and Ashtrom of
Israel) and coordination of the winning
consortium’s financing through the IFC for
the concession and the US$135.4m
construction of an expanded passenger
terminal. |
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|
Air Jamaica
- Retained to advise the Government on the
competitive assessment and final selection
of new aircraft types for the long range
fleet leading to the equipping of the fleet
with new Airbus aircraft. Retained in 1994
to advise on privatisation offers (1981 –
1983). |
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|
Air Jamaica
– Joint advisors with PriceWaterhouse
Coopers for development of the business plan
for the reserve bidder’s offer acquire a
majority interest in Air Jamaica at its
privatisation by Government of Jamaica
(1995/6). |
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|
Trans Jamaican Airlines
- retained for assistance and advice in
developing a restructuring plan to eliminate
losses, improve efficiency in operations and
prepare the company for privatisation.
Advisor on negotiations with aircraft
manufacturers for re-equipment of the
aircraft fleet. The company was successfully
privatised in 1996 and more recently
operated as Air Jamaica Express (1990-1993). |
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|
Sugar
- retained by the Office of the Prime
Minister and the Development Bank of Jamaica
to assist in the Government rescue and
restructuring of the sugar sector.
Preparation of
financing plan and structuring of
the financings for the sugar sector,
management of the international tender
process, including the successful Euro65m
five year credit led by KBC of Belgium in
1999 – the first ever Euro financing by a
non industrialised country – and the
first ever true multi-year financing for any
ACP sugar producer (1992 – 2000). |
|
|
Sugar
- Advisors for structuring of the 1999
Euro16m short term financing. Subsequently,
in 2000, CFAS advised on the structuring of
a Euro84m five year syndicated Multi-Option
Facility refinancing the original Euro65m
credit on improved terms, coordinated with a
parallel Caribbean Development Bank
US$25m integrated loan. The Euro65m medium
term syndicated Facility was selected as the
‘runner up’ “Best Deal of the year” in
1999 by International Trade Finance Magazine. |
|
|
Jamaica;
retained by the Office of the Prime Minister
to help develop
the structure, institutional entities and
overall strategy for state intervention in
the insolvent insurance and banking sectors
including advising on creation of the ‘lifeboat’ company
(FINSAC) and initial intervention
negotiations, procuring and managing
emergency forensic audits (acting as prime
contractor on behalf of the Government for
retention of the KPMG and Ernst & Young
teams) in preparation for the subsequent
arrival of a World Bank team to take over
and manage the divestment and
re-capitalisation process (1996-7). |
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|
Jamaica;
Advisors to the hotel group, Superclubs, on
management of borrowings for hotel
development and arrangement of new financing
(1995/6). |
|
Puerto Rico
|
 |
|
|
Advisors on studies for the Government on
the development of a local share and bond
market (1990). |
|
|
Puerto Rico
- Advisors to one of the bidders for the
privatisation of PRTC (1991). |
|
|
Advice to the Port Authority of San Juan on
a dispute with a major user at Luis Munoz
Marin Airport regarding costs and allocation
of airline charges related to offset
arrangements in connection with the
construction of a new airport terminal
development (1988-1990). |
|
Suriname |
 |
|
|
Suriname;
advisors to the Government on options for
the restructuring of state sector companies
and on strategies for the restructuring of
the external debt (1985/1988). |
|
Trinidad & Tobago |
 |
|
|
Chaguaramas,
Trinidad – advice on the sale by Alcan of
the dry dock facility (1992). |
|
|
Republic Bank, Trinidad & Tobago, advisor to the bank in connection
with the acquisition of a foreign bank. |
|
|
Trinidad & Tobago,
assistance to the lead manager of the
sovereign Bulldog Sterling Bond issue in the
1980s and participation in subsequent
financings. |
|
USA |
 |
|
|
US
- Advice to investors on the acquisition of
road infrastructure assets (Indiana Toll
Road, Indiana and Northwest Parkway,
Colorado). |
|
|
Louisiana Transshipment Container Port
Terminal (currently underway) |
|
|
USA -
Advisors to Hawker Siddeley on the
valuation of the group and the structuring
of the merger with British Aircraft
Corporation to create the present BAe.
Advisors to the Hawker Siddeley Group on the
acquisition in the US of Onan Corporation
Inc (1980s). |