D&D and D&D alums at PDS team up on GoAir buy of $7.7bn Airbus(es)

Wednesday, 13 July 2016 By Legally India Finance

PDS Legal and Desai & Diwanji together acted for the Wadia group-owned airline GoAir in its order to buy another 72 Airbus 320 NEO aircrafts for around $7.7bn.

PDS partner Vihang Virkar - who had joined PDS from Desai & Diwanji in January 2015 - with principal associate Ayesha Rai acted for Go Air.

Desai & Diwanji partner Apurva Diwanji also acted for Go.

According to a PDS lawyer, both firms were jointly instructed on the deal by the client.

The order of 72 aircraft comes on top of a 2011 order of another 72 identical aircraft from Airbus, reported the Times of India

PDS LegalDesai & Diwanji

Comments

GO!! 14 Jul 2016, 03:59
+2 -0
Congratulations Ayesha and Vihang! The finest Aviation lawyers I have worked with.
Mathematician 14 Jul 2016, 04:12
+2 -0
This is perhaps the biggest deal witnessed in recent times. A deal worth INR 53000 crores. Massive. Well done!!
Guest 14 Jul 2016, 05:46
+3 -0
Way to go Ayesha!!!
Fees 15 Jul 2016, 05:30
+0 -0
Kitna mila hoga?

As a mom-n-pop shop practitioner with 4-5 lawyers, my take is that most "big" deals end up in disproportionately low fees (as a percentage of deal size), while consuming inordinate band-width.

So one wonders whether/how any of this hoo-ha is really worth it..

I wish some day us small-fries will understand the mechanics of big-ticket deal billing.

Further btw, in stark contrast to other publicity-hoggers, PDS founder Prakash Shah typically stays in the shadows in PDS deals.. Nice!
kianganz 15 Jul 2016, 05:38
+0 -0
As I understand it, in assets / asset finance, deal sizes tend to be huge, though fees won't necessarily be equivalent to an M&A of the same value.

Part of that is because whether one aircraft or 72 aircraft, the documentation will be pretty much the same except for the number, whereas in an M&A, the DD and complexity of a deal 72 times the size will generally be somewhat more than the smaller deal.

But I might be talking out of my backside - any assets lawyers care to shed some more light?
In the know... 15 Jul 2016, 07:26
+1 -0
Kian - Documentation for large asset deals would, in many cases, be as or more complex and voluminous, when compared to M&A deals. Given that law practices involving high value assets (shipping, oil rigs, aviation, passive telecom infrastructure, etc) are niche areas of practice with very few lawyers actually having the required expertise, fees can be quite interesting. And, you are wrong, documentation for a one aircraft sale is completely different from a large order size.
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