England - London • Finance

Stephenson Harwood

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Combining 'exceptional technical and commercial knowledge of the shipping industry', Stephenson Harwood provides 'pragmatic and solutions-oriented advice' to commercial banks, alternative finance providers and operators. Ship finance head Ian Mace has deep knowledge across varied financing structures (including export credit backed deals and commercial debt, as well as more esoteric structures like Islamic finance) and is a popular choice among creditors and debtors on new money transactions and restructurings in the core shipping and offshore markets. Able to call upon a vast reservoir of knowledge gathered over his many years' in practice, Jonathan Ward remains a strong presence in the market, and is particularly effective advising on matters with a Chinese nexus. Other recommended practitioners include Greek national Dora Mace-Kokota - who is able to 'find compromising, creative and pragmatic solutions' for both Greek and non-Greek clients - and recently promoted partner Jon Cripps, who 'has exceptional specialist knowledge on complex structures', including JOLCOs and back leverage structures. While shipping remains the bedrock of the practice, under the guidance of Richard Parsons, the aviation practice continues to thrive, including in the developing area of passenger to freight conversion projects. Rebecca Garner, who has 'quite a remarkable eye for detail!', is a popular choice for clients on aircraft acquisition and leasing. Tammy Samuel and Suzanne Tarplee co-head the rail offering, while Lisa Marks' broad equipment finance and leasing practice includes rail work, as well as an increasing amount of mandates relating to electric vehicles.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • 'They have excellent breadth and depth of knowledge in the shipping sector.'
  • 'Combining exceptional technical and commercial knowledge of the shipping industry, the team provides pragmatic and solutions-oriented advice.'
  • 'Jon Cripps is practical with a wealth of knowledge for complex back leverage financings.'
  • 'Jon Cripps is highly responsive to client requests and fully engaged throughout the projects. He has exceptional specialist knowledge on complex structures (including JOLCOs).'
  • 'Shaun Park always delivers a great service and is available to answer any questions.'
  • 'Dora Mace-Kokota's  perfect knowledge of the industry is extremely valuable as she will find compromising, creative and pragmatic solutions.'
  • 'Rebecca Garner can speak French when negotiating the purchase of our aircraft in France and Rebecca is the only lawyer we know who can do the physical and practical due diligence when checking over the aeroplane herself inside and out - quite a remarkable eye for detail!'

Key clients

  • Abellio Transport Holdings Limited, Transport UK Group Limited and Abellio Bus
  • ABN AMRO Bank N.V.
  • Aircraft Leasing and Management
  • Altavair
  • Archway Aviation
  • Arriva UK Trains Limited (including all TOCs – Arriva Rail London, CrossCountry, Chiltern, Grand Central)
  • Australia and New Zealand Banking Group Limited
  • Avation PLC
  • BW Offshore Limited
  • CAF (Construcciones y Auxiliar de Ferrocarriles)
  • Centrus / Corelink
  • DNB Bank ASA
  • DSF
  • EnTrust
  • Fuyo Lease Group
  • Global Atlantic Financial Group
  • JP Morgan
  • Lombard North Central plc / National Westminster Bank plc
  • ICBCFL
  • IndiGo
  • ING
  • Macquarie
  • Macquarie AirFinance
  • Morgan Stanley
  • MPCC
  • MUFG Bank, Ltd.
  • Nordea
  • Oaktree Capital Management / Fleetscape Capital Limited
  • Oceanbulk
  • Rostrum Leasing
  • Sky Leasing
  • Starbulk
  • Sumitomo Mitsui Banking Corporation
  • Taiping Fontainburg DVB Aviation Capital
  • Touax Rail
  • Trenitalia UK Limited (and Trenitalia c2c)
  • Varamis Rail
  • Zenobe

Lawyers

Leading individuals

Ian Mace

Ian Mace

Stephenson Harwood

Ian is a partner and head of our ship finance group. He is an expert in the asset finance sector, specialising in ship, offshore and superyacht finance. Ian has broad experience of various financing transactions, from conventional debt, private equity and Islamic finance to leasing and restructuring. He provides quality advice in a commercial context with exceptional levels of service. Ian is recognised in The Legal 500 UK 2023 guide as a leading individual and in Chambers UK 2023 guide as a notable practitioner. Ian has a wealth of experience in complex financing structures, including export credit backed new building financings, financing of receivables pursuant to pool agreement, seller's credit transactions, Islamic financings and sale and lease back transactions. He has also led teams involved in the disposal and acquisition of loan portfolios for a number of high profile financial institutions. Ian acts for a mixture of financial institutions, ship-owners and operators, joint ventures, funds, private equity groups and shipbuilders in a broad variety of transaction types, which allows him to anticipate the issues that his counterparts will raise and enable him to offer commercial solutions. Ian has been involved in the restructuring of a number of high profile financings in varying stages of distress, and has also advised in respect of a number of transactions that have involved enforcement action including the arrest and auction of vessels in a number of jurisdictions. Highly regarded by his clients, Ian is commended for being sharp, quick on his feet, well prepared and able to argue any case clearly and convincingly. He has also contributed to the fourth edition of the leading ship finance industry handbook, Shipping Finance. Ian is a core member of the Stephenson Harwood yacht and superyacht team and regularly advises on non-contentious matters in the sector.

Jonathan Ward

Jonathan Ward

Stephenson Harwood

Jonathan is a ship finance expert with a focus on complex, cross-border transactions and restructurings in shipping. Clients value his commercial and pragmatic approach coupled with his broad experience. Jonathan heads our Chinese ship finance practice. He has extensive experience of ship finance and commercial shipping matters including complex loan financings, operating and finance leasing, sale and purchase, sale and leaseback, shipbuilding and construction contracts and corporate acquisitions. Jonathan advises on "big ticket" asset finance transactions worldwide. He represents a broad range of financial institutions (including export credit agencies), major international ship owners and shipyards. He has particular experience in Europe and the Far East. Jonathan has considerable restructuring experience and has advised lenders on the Omega Navigation Chapter 11 bankruptcy case, and major restructurings for Torm, Genco, Maritime Equity Partners and Bourbon Offshore.

Next Generation Partners

Jon Cripps

Jon Cripps

Stephenson Harwood

Jon is a partner in the finance group, specialising in ship and aviation finance. Jon’s practice area covers the financing and leasing of ships, aircraft and other assets within the transportation and asset finance sectors, including ECA-backed finance transactions, sale and purchase, leasing, joint ventures, shipbuilding/OEM contracts, secondary trade transactions, restructuring and enforcement. He has significant experience in acting for financial institutions, lessors, owners, operators and other investors on a broad range of national and cross-border transactions.

Practice head

The lawyer(s) leading their teams.

Tammy Samuel, Suzanne Tarplee, Ian Mace, Richard Parsons, Lisa Marks  

Other key lawyers

Jonathan Ward, Dora Mace-Kokota, Rebecca Garner, James Collins, Jon Cripps, Shaun Park, Charlotte McNeilly, Roderick McGeachy, Elena Tang