CMS Derks Star Busmann has assisted and advised HSH Nordbank AG ('HSH') in the financing of Ox-traction (Locomotives) N.V., a company engaged in leasing locomotives throughout Europe. This financing of € 70 million was for the purchase of locomotives manufactured by Voith Turbo Lokomotivtechnik GmbH & Co. KG.
CMS DSB advised HSH with respect to the necessary corporate documentation, Dutch security documentation (including a share pledge, a pledge on accounts receivable and two subordination agreements) and has issued a legal opinion.
The team was led by Marcel Groenewegen and consisted of Machteld Derks, Marcel Janssen, Marc Orval, Janneke Braat, Erik Vorst and Gieneke van Nierop. For specialist subjects the team was supported by Everhard Elferink and Annalie Draisma (leasing and sale) and Bas Baks and Stephan Groenewegen (insurance). The transaction was successfully finalized on 19 September 2008.