People, culture and work
Case study:
Deep understanding Client: BAA Lead practice area: Real estate and EU and competition Value: £1.51 billion
In challenging market conditions, and against the backdrop of the Competition Commission’s market investigation, we advised BAA on the real estate and planning aspects of the successful sale of Gatwick Airport. Our review of the real estate aspects of the deal
David Stinson – Newly qualified associate Working on the BAA deal during my training contract was very exciting! It sharpened my organisational and team-management skills. Making sure the momentum was kept up as we moved towards completion was hard work but when the job was done, we celebrated the end of the deal and built on the relationships that had grown during the transaction.
See video at:
herbertsmithgraduates.com/video/ davidstinson
extended to BAA’s 135 registered titles at Gatwick and approximately 400 occupational tenancy documents. We used our existing knowledge of the titles and property issues to produce the certificate of title and to solve existing issues. We combined a deep understanding of the client, strong project management skills and integrated legal advice across the real estate spectrum. This led to a successful transaction. We also advised BAA in relation to the Competition Commission’s market investigation and BAA’s subsequent appeal in the Competition Appeal Tribunal. BAA had already sold Gatwick, but it was also
required to sell Stansted and either Glasgow or Edinburgh airports. The Competition Appeal Tribunal upheld BAA’s appeal and ordered that the requirements of the Competition Commission’s report be quashed and remitted back to the Competition Commission to restart its market inquiry. This was the first appeal against a Competition Commission decision which raised apparent bias as a ground of appeal. The issue has now gone to the Court of Appeal.
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