Navigating through to the end of legacy PFI

We have recently seen a significant uptick in clients across the industry requiring disputes and advisory support in respect of PFI projects.  We understand this is in large part due to a change in approach from public authorities managing PFI projects, which can in turn lead to significant stress on the private sector stakeholders. 

With the expiry of legacy PFI projects on the horizon, we set out in this note a high-level guide for stakeholders to navigating through to the end of such projects.  We have included an indicative structure chart and timeline for a typical project based on recent experience and potential outcomes for the project, including in particular a Court-sanctioned restructuring plan under Part 26A of the Companies Act 2006. Through a restructuring plan, a ProjectCo could with Court approval potentially impose amendments to project documents on an Authority and a write-off of liabilities owing to the Authority.

Read the guide