Transportation Finance Digest
Michael P. Schumaecker
Mr. Schumaecker is a member of the law firm’s Finance practice, a group that includes the firm’s Banking, Derivatives, Energy & Infrastructure Projects, Islamic Finance, Structured Finance, Trade & Commodities Finance and Transportation Finance practices. He has extensive experience in complex cross-border asset-based financings, trade finance and infrastructure projects, particularly in the aviation and energy industries.
He has over 25 years of experience acting as counsel to airlines in both financial and commercial matters, including aircraft purchases and sales, operating and finance leases, pre-delivery payment financing, receivables financings, fuel hedges, ticket clearance systems, frequent flyer programs, fleet replacements, joint ventures, debt restructurings and insolvency proceedings. He also works extensively for international lenders on aircraft financing matters and has advised on Export Credit Agency financings for over $6 billion of aircraft.
Mr. Schumaecker has also represented lenders in structured trade finance arrangements with businesses and governmental entities in over 40 countries involving almost every kind of asset, such as supply chain financing of commodities, cellular telecom build-outs in emerging markets and export financing for school buses, computer equipment, avionics, spare engines, helicopter parts and drilling rigs.
His financing experience in the energy and infrastructure sectors includes matters such as the leasing of nuclear fuel, power purchase contracts and waste-to-energy projects as well as working with multilateral institutions in airport development, port projects and water desalinization plants.
Aircraft and Airline Finance
- Counsel to airlines in Algeria, Brazil, Canada, Ethiopia, Namibia, Philippines,Turkey, Romania, Uzbekistan and elsewhere in connection with the purchase, sale or financing of over 300 aircraft.
- Counsel to international lenders and investors in connection with the financing of aircraft in China, Japan, Korea, Luxembourg, Malaysia, Mexico, Morocco, Pakistan, Philippines, South Africa, United States, Vietnam and Zimbabwe.
- Counsel to South American airline in its restructuring of over $3 billion of debt.
- Counsel to airlines in South American and Asia in connection with the securitization of future cash flows from airline ticket sales.
- Represented airlines in the negotiation of clearing arrangements with ARC and IATA.
- Represented airlines and lenders in pre-delivery payment financings for aircraft aggregating over $2 billion.
- Represented South American airline in connection with the acquisition of related businesses.
- Counsel to the lenders in connection with a trade loan to a telecommunications company in Kazakhstan.
- Counsel to the lenders in connection with loans aggregating over $1 billion to finance telecom equipment in Bangladesh, India, Jordan, Romania and Turkey.
- Counsel to the lenders in connection with loans to governmental entities aggregating over $3 billion in Algeria, Argentina, Australia, Brazil, Chile, Egypt, Indonesia, Turkey and Venezuela.
- Counsel to the lenders in connection with risk sharing arrangements aggregating over $1 billion with Private Overseas Investment Corporation in Asia, South America, Central America, Middle East, Africa and CIS.
- Counsel to lenders in connection with US foreign military sales to various countries.
- Counsel to the underwriters in connection with the financing of investment funds in the CIS.
- Counsel to the lenders in connection with pre-export financing of commodities in Asia, Australia and South America.
Energy and Infrastructure
- Counsel to European and Mexican banks in connection with the financing of off-shore drilling rigs.
- Counsel to the developer in connection with three municipal waste-to-energy projects.
- Counsel to an alternative resources company in connection with secured loan financing.
- Counsel to electric utility in connection with the securitization of payments from power purchase contracts.
- Counsel to the underwriters in connection with the financing of a water desalinization plant in Algeria.
- Represented investors in connection with the acquisition and improvement of marine terminals.
- Represented the project company in connection with financing of a deep water port in Brazil.
- Represented the lenders in connection with the financing of the Lima airport modernization and expansion project.
- Counsel to lenders in connection with the financing of an office complex in CIS.
- Chambers Global, Asset Finance—Global (2008-2013)
- Chambers USA, Aviation Finance—National (2007-2013), Banking & Finance: Equipment Finance & Leasing—National (2012-2013), Banking: Equipment Finance & Leasing—New York (2007-2011)
- Best Lawyers in America, Equipment Finance Law (2006-2014)
- Legal 500 US, Asset Finance and Leasing (2007-2013)
- Who's Who Legal, Asset Finance—New York, Finance—New York (2010)
- Best of the Best USA, Aviation, Euromoney/Legal Media Group (2009, 2011)
- Guide to the World's Leading Aviation Lawyers, Euromoney/Legal Media Group (2013)
- African Aircraft Debt Deal of the Year, Ethiopian Airlines Financing, Jane's Transport Finance (2010)
- European Deal of the Year, Turkish Airlines Financing, Airfinance Journal (2008)