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David A. Gillespie

Partner

David A. Gillespie

New York

T:+1 212 318 3073

David Gillespie has more than 30 years of experience in representing a wide variety of clients, with special emphasis on the power, infrastructure and transport sectors.  A partner in the New York office, David leads the tax divisions of the Power and Alternative Energy, Transport and Infrastructure practice groups.

David has extensive experience advising investment funds, equity investors, public authorities, asset operators, lenders and manufacturers in the tax structuring and implementation of sophisticated domestic and cross-border mergers, acquisitions and financing transactions.

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  • Education

    1981 - J.D., Georgetown University Law Center
    1979 - A.M., Committee on Social Thought, University of Chicago
    1974 - B.A., honors, Philosophy, Wesleyan University

    David was admitted to practice law in New York in 1984 and in Illinois in 1981.

     

  • Representative experience
    • International Infrastructure Fund in the $900 acquisition of an international gas storage business
    • International Infrastructure Fund in the $350 million acquisition of a 49 percent cash equity interest in a portfolio of wind facilities, including over 1,000 MW of contracted wind generation capacity
    • Major airline on a US$913 million Sukuk, backed by Her Britannic Majesty's Secretary of State acting by the Export Credits Guarantee Department of the UK Government (currently operating as UK Export Finance), the first Sukuk for an aircraft financing backed by UK Export Finance, the first Sukuk used to pre-fund the acquisition of aircraft, and the first Sukuk financing for A380 aircraft; the aircraft will be leased to and operated by the airline
    • International Infrastructure Fund in the tax-equity financing of a 110-megawatt wind project 
    • International Infrastructure Fund in the C$1.76 billion acquisition of natural gas and diluent pipeline interests
    • International Infrastructure Fund in the acquisition of a 377 MW hydroelectric facility and 86 mile open access transmission system for approximately $900 million
    • International Infrastructure Fund in the acquisition of one of the largest district energy businesses in the US
    • International Infrastructure Fund in the acquisition of major district energy businesses in the US
    • International Infrastructure Fund in the acquisition of major district energy businesses in the US
    • International Infrastructure Fund in connection with their bid for a project to design, build, finance, operate and maintain section 5 of I-69 in Indiana
    • Construction Company in its bid for a project to design, build, and finance the second Innerbelt Bridge on I-90
    • Public Authority in connection with structured financing of 100 MW photo voltaic solar power facility
    • International Syndicate and short-listed bidder, in its bid for the Knik Arm Crossing Project
    • Major airline in connection with a concession to finance, improve, operate, develop, modernize and maintain the Luis Munoz Marin International Airport, San Juan, Puerto Rico
    • International Infrastructure fund in the acquisition of a 150 MW wind farm in CAISO
    • Major airline, operating lessors, aircraft manufacturers and financial institutions in connection with the acquisition, sale, leasing and financing of commercial aircraft with an aggregate value in the $ billions
    • Major international oil company, manufacturing companies and mining companies in connection with the acquisition and lease-financing of railcars
    • Major international financial institutions in connection with the financing of vessels with an aggregate value in the $ billions
    • Major international banks in $1 billion tax-based (non-US) financing of automobile manufacturing facility in the US
    • Investor in sale of interests in the Palo Verde nuclear facility
    • International fund in the potential acquisition of generation and transmission assets in Latin America
    • Public authorities and investors in connection with alternative energy investments with an aggregate value in the $ billions
    • Major league professional sports team in the financing of a new stadium involving both public and private financing sources
    • Equity investors in numerous lease financings of real estate, facilities, industrial equipment and transportation equipment with an aggregate value in the $ billions
    • Investors in and sellers of electric power generating companies and assets with aggregate value in the $ billions
    • Investor in acquisition of two airlines
    • Investor in connection with acquisitions of companies in bankruptcy
    • Major financial institution in providing various capital markets products
    • Major financial institution in the development and implementation of innovative leasing structures
    • Major aircraft manufacturer in connection with the development and implementation of an international vendor finance program
    • Financial subsidiary of a major manufacturing corporation in numerous acquisitions and financings of commercial aircraft in deals with an approximate aggregate value of over $1 billion
    • Domestic municipal lessee in transactions involving rail assets
    • Equity investors in connection with restructuring of leveraged-lease transactions with an aggregate value in the $ billions
    • Equity investors in leveraged-lease transactions involving $ billions of assets in connection with lessee bankruptcies
  • Admissions
    • New York State Bar License
  • Rankings and recognitions
    • The Best Lawyers in America, Best Lawyers, 2010 - 2018
    • New York Metro Super Lawyers, Tax, Thomson Reuters, 2008 -2017
    • Legal 500 US, recommended lawyer, Tax: international tax, The Legal 500, 2017
    • Legal 500 US, recommended lawyer, Asset Financing & Leasing, The Legal 500, 2014 - 2015
    • Legal 500 US, recommended lawyer,  Project Finance, The Legal 500, 2013 - 2014
    • Legal 500 US, recommended lawyer, Tax: Domestic, The Legal 500, 2015
    • IFLR1000 – United States, Euromoney Institutional Investor PLC, 2018
  • Publications
    • "U.S. Public Infrastructure Investment: Selected Tax Considerations," Global Infrastructure, Volume I, 2008
    • "Revenue Ruling 2002-69: A Perspective," Equipment Finance Journal, November / December 2002
    • Co-author, "Safe harbor conditions for management contracts," Norton Rose Fulbright - Legal update, August 31, 2016
    • Co-author, "Renewable energy tax incentives - Notice 2016-31 & Consolidated Appropriations Act '16," Norton Rose Fulbright - Legal update, May 24, 2016
  • Memberships and activities
    • American Bar Association
    • Bar Association of the City of New York
    • Equipment Leasing and Finance Association - Federal Tax Committee (1998 - 2015)
    • New York State Bar Association
    • National Association of Bond Lawyers