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13 Project Finance in Civil Law Jurisdictions »

Antoine Maffei, Jean-Renaud Cazali
From: International Project Finance: Law and Practice (2nd Edition)
Edited By: John Dewar
This chapter analyses the origins of project financing under civil law since the origins of the concession systems, especially in France, and its influence on the project financing and on the existing legal corpus applicable to public contracts. A large part of the chapter is dedicated to the issues arising from secured lending and to the various types of security interests available in civil law jurisdictions. The authors also describe the OHADA legal system seeking to harmonize business laws in Africa. The OHADA is deeply influenced by French civil law. A recent reform relating to security has incorporated in the OHADA Uniform Act several security interests practised and developed in the last 30 years in France.

13 Project Finance in Civil Law Jurisdictions »

Jean-Renaud Cazali, Kilian de Cintré
From: International Project Finance (3rd Edition)
Edited By: John Dewar
Until recently, project financing of public infrastructure projects in France, as in other civil law jurisdictions, was limited to concessions. This evolved in the early 2000s with the emergence of partnership agreements between public authorities and sponsors. Nowadays, project financing of public infrastructure projects is structured around two distinct contractual frameworks: concessions and public-private partnerships. The two main differences between public-private partnerships and concessions lie in (i) the way the project is designed and (ii) the remuneration of the private company. This chapter discusses public projects and tender offers, creating and perfecting security interests, daily assignment and pledges over business concerns, direct agreements and step-in rights, issues arising from secured lending, and the influence of the civil code in African countries.