Natsource CF Corporation completed a series of transactions on December 12, 2007 involving the forward purchase and syndicated onward sale of approximately 44 million certified emission reductions expected to be created by a nitrous oxide decomposition project in China and to be issued pursuant to the Kyoto Protocol's Clean Development Mechanism. Certified emission reductions can be used to meet greenhouse gas emission reduction obligations under the Kyoto Protocol and the European Union's Emissions Trading Scheme.
The transaction is one of the largest greenhouse gas emissions transactions in history. Natsource CF Corporation is an indirect subsidiary of Natsource LLC, one of the world's largest private-sector greenhouse gas asset management companies. Natsource CF Corporation purchased the certified emission reductions with credit support from Fortis Bank (Nederland) N.V., on the basis of credit support provided by downstream investors in its favour. Contemporaneous with the forward purchase of the certified emission reductions, Natsource CF Corporation entered into agreements for the onward sale of the certified emission reductions with a syndicate of downstream investors.
Natsource CF Corporation was represented by general counsel to Natsource LLC Andrew O'Connor and by lead counsel Bennett Jones LLP, with teams led by Gray Taylor and Hugo Alves (climate change/commercial), and which included Mike Barrett, Jesslyn Maurier, Sarat Maharaj, Petra Fisher, and Keith Sutherland (climate change/corporate), Lindsey Hutton and Mark Rasile (banking), Stephen Bowman (tax), and Art Peltomaa, Justin Fogarty, Frank Dearlove and Gavin Finlayson (opinions). Sherice Arman of Appleby Global was Cayman Islands counsel to Natsource CF Corporation.
Deborah Patterson of McInnes Cooper acted as special Nova Scotia counsel to Natsource Asset Management Corp. John Deacon of Hunton & Williams LLP acted as special United Kingdom counsel to Natsource Asset Management Corp. Fortis Bank (Nederland) N.V. was represented by Allen & Overy LLP, with a team led by Ben Fox, and which included Sophie Chamberlin, Sally Clarke and Maryn Spruyt (banking).
The transaction is one of the largest greenhouse gas emissions transactions in history. Natsource CF Corporation is an indirect subsidiary of Natsource LLC, one of the world's largest private-sector greenhouse gas asset management companies. Natsource CF Corporation purchased the certified emission reductions with credit support from Fortis Bank (Nederland) N.V., on the basis of credit support provided by downstream investors in its favour. Contemporaneous with the forward purchase of the certified emission reductions, Natsource CF Corporation entered into agreements for the onward sale of the certified emission reductions with a syndicate of downstream investors.
Natsource CF Corporation was represented by general counsel to Natsource LLC Andrew O'Connor and by lead counsel Bennett Jones LLP, with teams led by Gray Taylor and Hugo Alves (climate change/commercial), and which included Mike Barrett, Jesslyn Maurier, Sarat Maharaj, Petra Fisher, and Keith Sutherland (climate change/corporate), Lindsey Hutton and Mark Rasile (banking), Stephen Bowman (tax), and Art Peltomaa, Justin Fogarty, Frank Dearlove and Gavin Finlayson (opinions). Sherice Arman of Appleby Global was Cayman Islands counsel to Natsource CF Corporation.
Deborah Patterson of McInnes Cooper acted as special Nova Scotia counsel to Natsource Asset Management Corp. John Deacon of Hunton & Williams LLP acted as special United Kingdom counsel to Natsource Asset Management Corp. Fortis Bank (Nederland) N.V. was represented by Allen & Overy LLP, with a team led by Ben Fox, and which included Sophie Chamberlin, Sally Clarke and Maryn Spruyt (banking).
Lawyer(s)
Gray E. Taylor
Deborah L. Patterson
Hugo M. Alves
Gavin H. Finlayson
Stephen W. Bowman
Jesslyn G. Maurier
Frank R. Dearlove
Lindsey A. Hutton
Justin R. Fogarty
Arthur J. Peltomaa
Mark Rasile
Michael R. Barrett
Sarat C. Maharaj