Eversheds Sutherland helps push through transfer of Carillion's Network Rail contracts to Amey
Firm leads on high-speed rail deal to safeguard more than 600 Carillion jobs
February 22, 2018 at 07:48 AM
3 minute read
Eversheds Sutherland has advised Network Rail on the transfer of Carillion contracts to Amey Rail, a deal that will save hundreds of jobs following the construction company's collapse.
The transfer of the contracts, which includes Midland Mainline Upgrade and North West Electrification Programme, was carried out over just two weeks, and will safeguard more than 600 Carillion jobs.
In the immediate aftermath of the company's liquidation, Eversheds also advised on an agreement with the official receiver and the special manager PwC that will enable work on Network Rail projects to continue. The firm will advise Network Rail on the long-term transition of remaining staff.
Eversheds fielded a team led by construction partner Chris Pickens, assisted by restructuring partner Jamie Leader and construction partner Simon Chamberlain.
Amey relied on its in-house legal team, while Slaughter and May advised PwC with a team led by financing partner Ian Johnson and corporate partner William Underhill.
Pickens said: "Despite the particularly sensitive circumstances involved in this deal, we are delighted that we were able to support the successful transfer of these high-value, strategically important contracts for our longstanding client Network Rail. The in-depth knowledge and expertise of our team also enabled completion within a tight timescale."
The deal comes after Clifford Chance (CC) purchased Carillion's Newcastle-based legal services arm, Carillion Advice Services (CAS), a deal that will see the magic circle firm take on 60 paralegals in Newcastle. There had been significant interest in the managed services arm, with other potential bidders including Pinsent Masons-backed 'New Law' startup Yuzu and alternative legal services provider Elevate.
Network Rail recently began a review of its legal panel, with the new line-up set to run from April 2019. The panel will cover all of Network Rail's external legal work including construction, dispute resolution and property. It was last reviewed in 2013 when Eversheds, Addleshaw Goddard, Dentons, Bond Dickinson and Maclay Murray & Spens were all appointed.
Eversheds is also currently advising Network Rail on the sale of its UK commercial property portfolio – dubbed 'Project Condor' – as it looks raise funds to invest in its railways.
Last year, the company appointed Stuart Kelly as group general counsel following the departure of former GC Suzanne Wise in March.
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