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Expertise

Yvonne is a partner in the Finance and Capital Markets Department and advises on all aspects of aviation, shipping, rail and other asset financing, trading and leasing matters on a daily basis. Yvonne has gained considerable experience in advising on all aspects of the structuring of asset purchase, sale, financing and leasing transactions and acts for a number of aircraft lessors, financiers and airlines in leveraged, syndicated and export credit agency backed financing facilities. Yvonne also has considerable experience in advising on structured finance, ABS (asset-backed securities) and repackaging transactions relating to all such asset classes including the establishment of special purpose companies funded by public and private issuances.

Yvonne has significant experience in advising on all aspects of the Cape Town Convention and in addition regularly provides advice on registration issues with the Irish Aviation Authority.

Yvonne is also a lecturer and tutor on the Law Society of Ireland’s Certificate and Diploma courses in Aviation Leasing and Finance.

Experience Highlights
  • Advised and acted as Irish counsel in connection with the US$ 585 million ABS of a portfolio of 21 aircraft to be leased to 15 commercial airlines located in 12 countries.
  • Acted as Irish counsel to the lender parties in respect of a US$250 million revolving credit facility secured by the portfolio of loans made to various aircraft lessors.
  • Advised on the issuance of $1.21 billion secured notes and acted as Irish counsel in connection with the acquisition of a portfolio of 48 aircraft with leases attached.
  • Advised on the issuance of more than $916 million secured notes in respect of the acquisition of 52 aircraft and 1 aircraft engine.
  • Advised on the issuance of more than $713 million secured notes in respect of the acquisition of 54 aircraft and 6 aircraft engines.
  • Acted as Irish counsel to the sole structuring agent and joint bookrunner on a US$250.8 million ABS of a portfolio of 18 narrow bodied aircraft.
  • Advised on the issuance of $640 million secured notes in connection with the securitisation of a portfolio of over 30 aircraft.
  • Acted for an aircraft leasing company on the European export credit agency backed financing of a portfolio of 30 SuperJet 100 aircraft.
  • Advised an aircraft leasing company on the export credit agency supported financing of a number of Airbus A320-200 aircraft.
  • Acts for leading international financial institutions in the provision of facilities to Irish companies for the acquisition of Airbus and Boeing aircraft.
  • Advises on the establishment of numerous orphan and SPV structures to finance a variety of assets including aircraft and helicopters.
  • Regularly assists with the establishment of aircraft leasing platforms in Ireland
  • Regularly acts as Cape Town counsel.
Accolades

Yvonne McWeeney is recognised
Airline Economics ‘40 under 40’ guide 2020

Yvonne McWeeney is recommended
European Legal 500 2020

Yvonne McWeeney is named a next generation partner
European Legal 500 2020

Yvonne McWeeney is "incredibly smart and attentive to details. She manages to explain things without losing sight of the big picture."
Banking and Finance: Chambers Global 2020

Yvonne McWeeney is named a ‘Rising Star’
IFLR1000 2020

Best in Aviation
Euromoney Europe Women in Law Awards 2019

Yvonne McWeeney is "super responsive".
Chambers Europe 2019

Yvonne McWeeney has been named an Aviation Expert.
Euromoney Expert Guides 2019

Yvonne McWeeney is recommended.
European Legal 500 2019

Rising Star
Airfinance Journal 2018

"Stuart Kennedy and Yvonne McWeeney each consistently show dedication and commitment. Their knowledge of the financial sector is evident in each transaction they work on, and their responsiveness and focus has ensured that deals are always closed in a timely manner."
Chambers Europe 2018

"If Yvonne is on the case, you can consider it done."
Chambers Europe 2018

Education

University College Dublin (Bachelor of Business and Legal Studies)

Admitted as a solicitor in Ireland 

Admitted as a solicitor in England and Wales (non-practising) 

Irish court approves rescue scheme for Irish-based aircraft lessor Nordic Aviation

Sep 28, 2020, 23:48 PM
The High Court recently in an ex tempore (unwritten) judgment (to be followed by a more detailed written judgment) approved a scheme of arrangement under Part 9 of the Companies Act 2014 in what may be a template for future restructurings in the aviation sector and a further example, following on from the Weatherford and Ballantyne cases, of the Irish courts’ willingness to facilitate large international restructurings.
Title : Irish court approves rescue scheme for Irish-based aircraft lessor Nordic Aviation
Filter services i ds : 18be7629-c807-4e2c-b999-08d523a905e9;
Engagement Time : 3
Insight Type : Article
Insight Date : Jul 29, 2020, 12:10 PM
The High Court recently in an ex tempore (unwritten) judgment (to be followed by a more detailed written judgment) approved a scheme of arrangement under Part 9 of the Companies Act 2014 in what may be a template for future restructurings in the aviation sector and a further example, following on from the Weatherford and Ballantyne cases, of the Irish courts’ willingness to facilitate large international restructurings.

The case concerned the Nordic Aviation group, the largest regional aircraft lessor and the fifth largest aircraft lessor globally.

A scheme of arrangement under Part 9 of the Companies Act 2014 is very similar to a scheme of arrangement under the law of England and Wales. It is a flexible restructuring tool, requiring the approval of at least 75% in value and a majority in number of affected classes of creditors and court sanction to be binding. A significant distinction between such scheme of arrangement and its counterpart in England and Wales is that the court may on application grant a moratorium with regard to creditor actions to facilitate approval of the scheme. This is a feature of examinership also, the more widely used restructuring process in Ireland, which also, perhaps confusingly, entails use of a scheme of arrangement.

Although ultimately unopposed, the judgment of the High Court clarified a number of matters, including the following.

It re-affirmed, following Ballantyne, the ability to affect third party liabilities. It went one step further than the court in Ballantyne in that the company which proposed the scheme was the guarantor of the relevant liabilities and the third parties were the principal creditors.

Following case-law in England and Wales, it confirmed that the order approving the scheme was a judgment enforceable under the Brussels Regulation.

It held that, because of the overwhelming creditor support the scheme received, it did not constitute a non-consensual restriction on an enforcement remedy for the purposes of Article XI of Alternative A of the Aircraft Protocol to the Capetown Convention.

Recognition of the order under chapter 15 of the US Bankruptcy Code has been entered by the New York Bankruptcy Court.

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