Marine finance partner strengthens Penningtons Manches Cooper’s banking and finance practice
International law firm Penningtons Manches Cooper has appointed marine finance specialist Gary Walsh as a partner in its banking and finance team.
Gary joins the firm from Watson Farley & Williams and brings more than 20 years’ experience advising financial institutions, export credit agencies, owners, lessors and investors on complex asset-backed financing transactions across the international maritime, offshore and container sectors.
His practice encompasses cross-border financings, structured and portfolio transactions, and distressed situations. He advises throughout the transaction lifecycle, from acquisitions and financings to restructurings, workouts and enforcement matters.
Gary’s appointment further strengthens the firm’s established marine finance offering, which draws on the combined expertise of its banking and finance, shipping, marine, corporate and disputes teams to advise lenders, owners, operators and investors across the maritime sector.
Highlights from Gary’s practice include advising an international syndicate of lenders on an ECA backed US$ 1.5 billion container financing for a major international shipping company and advising lenders on a US $1.4 billion financing of offshore drilling rigs. He also advised international lenders on the unwind of a portfolio of secured shipping loans following the introduction of sanctions in 2022. More recently, he has worked with a leading European financial services provider to establish its UK marine finance offering and advised on its cross-border maritime finance transactions.
Based in the firm’s London office, Gary will work closely with Penningtons Manches Cooper’s highly regarded banking and finance and marine teams in the UK and across its international network.
John Chater, head of Penningtons Manches Cooper’s banking and finance team, said:
“Gary is an outstanding addition to our partnership. He is highly respected in the market, brings exceptional technical expertise and has developed strong relationships across the banking and marine finance sectors throughout his career.
Marine finance is already an important part of the firm’s banking and finance practice and his arrival reflects our continued investment in areas where deep sector knowledge and financing expertise combine to deliver real value for clients. Working closely with our market-leading shipping and marine teams, Gary will further strengthen our ability to provide seamless, sector-focused advice on complex financing transactions and the wider commercial challenges facing clients operating internationally.”
Grant Eldred, partner and head of the firm’s financial services sector group, added:
“Gary’s appointment is an exciting development for both our practice and our clients. His extensive experience advising on complex marine and asset finance transactions complements our existing strengths across marine, trade and commodity finance.
We already advise a broad range of clients operating in the maritime sector and Gary’s expertise further strengthens our ability to support banks, alternative financiers, export credit agencies, owners and investors on sophisticated cross-border matters. His arrival adds further depth to a well-established practice and supports our continued growth across our international offices.”
Commenting on his appointment, Gary Walsh said:
“I am delighted to be joining Penningtons Manches Cooper. The firm has an outstanding reputation in the maritime sector, a strong and growing banking and finance practice, and a genuinely collaborative culture that aligns closely with the way I work with clients and colleagues.
The opportunity to work alongside highly regarded specialists across a range of complementary disciplines and international offices was particularly compelling. I look forward to working with my new colleagues, supporting clients on complex transactions and contributing to the continued growth of the practice.”