Shoosmiths has advised long-standing clients, Porterbrook Leasing Company, on a deal to provide 9 different fleets of rolling stock for use over the Arriva Trains Northern routes.
The Shoosmiths’ team was led by partner Martin Fleetwood. Martin is a member of the Shoosmiths’ Transport And Infrastructure Team. The team advised Porterbrook on the master lease agreement, the leasing contracts for all 9 fleets, as well as on the agreement for the refurbishment works and the direct agreement between Porterbrook and the Department for Transport (DfT).
Olivier Andre, Commercial Director of Porterbrook, said: ‘It is a pleasure to work with lawyers who take the time to understand the nuts and bolts of our business and are experienced enough to advise upon lease transactions such as these. Shoosmiths has done an excellent and diligent job for what is a very important deal for Porterbrook, which will enhance customer usability considerably.’
Shoosmiths’ Martin Fleetwood, said: ‘It was a pleasure to advise Porterbrook on this matter which will transform passenger experience for persons of reduced mobility across the Northern network as well as improve the experiences of other passengers.’
Porterbrook’s investment to date in the UK rail markets totals to £2.7bn in new trains and over £300 million on existing fleet refurbishment. The company’s aim in the coming years is to not only continue with investment in new trains and associated equipment for the UK rail industry but to also improve reliability, availability, maintainability and safety characteristics by working closely with the freight operators, train operators and suppliers to identify opportunities.
Shoosmiths’ transport and infrastructure team acts for a wide range of transport clients including Hitachi Rail, Stagecoach (including South West Trains and East Midlands Trains), Porterbrook Leasing, Centro and Swiss International Airlines. The team has expertise in all forms of transport including aviation, freight, light and heavy rail. They were crowned regional Transport Law Firm of the Year 2014 by the Legal 500.
