Head of asset
finance: Alan Cunningham, David Wood
No. of partners
(assistants): 6 (11)
Key lessor
clients: Lloyds Banking Group, Lombard North
Central, Kaupthing Singer & Friedlander, Carlyle Finance,
Fortis Leasing, Bank of Ireland Business Finance, NAB Group, The
Funding Corporation, Davenham, Yorkshire Bank, Fortis Lease,
Rentsmart, Ruffler Bank, RCI Financial Services, Bluestone Leasing,
Lex Vehicle Leasing
Key lease broker
clients: N/A
Key manufacturer
clients: N/A
New clients gained in
2009: Deutsche Leasing UK, Hitachi Capital
Go deeper with GlobalData
Growth areas of work at DWF’s asset finance
department, which is divided into transactional work headed by Alan
Cunningham and litigation work run by David Wood, are deal
restructuring and aviation related litigation work. Last year it
billed 7.5 percent more than it did in 2007.
Although it did not disclose details of much
of its current work, it did state that it is currently acting for a
large UK subprime motor credit company on a £150 million
refinancing of its warehouse facilities.
Cunningham continues to be a leading force in
corporate jet work. For instance, he has seen a lot of jet related
litigation work for his client Kaupthing.
He is currently acting for the asset finance
arm of a UK clearing bank on a $20 million stage payment and post
delivery funding of an Embraer Legacy 600 aircraft.
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By GlobalDataOther current work the firm is doing is acting
for a UK bank in its €20 million funding for a fleet of UK, Cyprus
and Kazakhstan flagged tugs, engineering vessels and catamarans for
a UK-based shipping group. The firm has also been involved in the
restructuring of CHC Helicopters, the world’s largest helicopter
operator.
It does a sizeable volume of work for
Littlewoods-owned Everyday Financial Services. It also does a lot
of vehicle and fleet finance for the likes of Hertz, as well as
plant and equipment finance and dealer stocking finance.
