Introduction

Welcome to the August 2010 edition of Focus.

We are enjoying a busy summer at Trinity, working on existing and new transactions in various emerging markets.

We are working on three transactions in Ghana and are approaching the closing of a 340MW power plant. We hope it will be a milestone transaction in terms of African IPPs in the region and the first of a number of proposed power deals in Ghana.

We are also close to financial close of the refinancing of one of Africa’s leading infrastructure debt funds (we act for several major development finance institutions). Recent new instructions include power sector transactions in Kenya and Zambia. Our ongoing matters in Nigeria, Tunisia, Cyprus, Romania, Madagascar, Mauritius, South Africa, Zambia, Kenya and Mozambique (among other jurisdictions) remain busy.

Senior Associate Kaushik Ray recently wrote a piece for the Financial Times’ publication This is Africa on the effect of the forthcoming EU Directive on Alternative Investment Fund Managers. The full story can be found at the following link: This is Africa Online

With several Africa-based funds (or institutions that lend to them) as clients, it is important to know how this significant piece of legislation will affect their business in the years to come.

As for this month’s articles, Trinity Associate Guy Jolly gives us an in-depth look at the new UK Bribery Act, including its background and practical steps for companies to consider.

Our newest recruit, Tamila Nakazwe, writes the Legalese column on the duty of care owed by beneficial owners of property – following a recent Court of Appeal decision. The decision is an important to consider for anyone who owns the equitable title to property (for example mortgage holding banks).

As ever, if you have any comments or questions about Focus, or generally, please get in touch.