Richard B. Furey
Partner
Richard B. Furey
+1.212.513.3439
Overview
Richard Furey is a New York-based attorney who focuses his practice on international and United States domestic asset and infrastructure finance including significant experience in the aviation and maritime sectors. He regularly represents asset owners, lessors, lenders and investors in a wide range of financing and related transactions.
Mr. Furey regularly speaks and writes about topics pertaining to aviation and maritime law and contributes to the Holland & Knight Transportation Blog and the Holland & Knight Aviation Law Blog.
Representative Experience
- Represented agent and lender in connection with a loan facility in respect of three aircraft on lease to three different airlines
- Represented an international aircraft leasing company as sponsor and servicer in connection with a $1.2 billion asset-backed securitization (ABS) transaction, involving 49 aircraft, and structured in three tranches of notes: $459 million in A notes, $591 million in B notes and $160 million in C notes
- Represented an international aircraft leasing company as sponsor and servicer in connection with a $612 million ABS transaction, involving 29 aircraft, and structured in three tranches of notes: $476 million in A notes, $91 million in B notes and $45 million in C notes
- Represented an international aircraft leasing company as sponsor and servicer in connection with a $485 million ABS transaction, involving 20 aircraft, and structured in three tranches of notes: $375 million in A notes, $69 million in B notes and $41 million in C notes
- Represented international aircraft leasing company as sponsor and servicer in connection with a $440 million ABS securitization transaction, involving 18 aircraft, and structured in three tranches of notes: $343 million in A notes, $61 million in B notes and $36 million in C notes
- Represented international aircraft leasing company in the sale and lease assignment to TrueNoord of six Embraer model ERJ 170-100 aircraft on lease to Republic Airways Inc.
- Represented international aircraft leasing company in the acquisition, financing and leaseback of more than 30 new aircraft to Delta Air Lines
- Represented international aircraft leasing company in the acquisition, financing and leaseback of more than 19 new aircraft to American Airlines
- Represented numerous aircraft lessors in domestic and cross-border aircraft-related transactions including acquisitions, leases, sale-leasebacks and sales, primarily involving Boeing 787s, 757s, 737s, McDonnell Douglas (MD)-88s and Airbus A340s, A330s, A320s and A319s
- Represented aircraft lessors in the acquisition of nine B757s on lease to US Airways; the sale-leaseback of two A340s with South African Airways; the acquisition of Delta Airlines' rights to acquire 23 new B737-800s from Boeing; the leasing of 10 B737-500s to Aeroflot-Don and Aeroflot-Nord; the leasing of six A320s/A319s to Virgin America; and various other sale and leasing transactions involving airlines in the Commonwealth of Independent States (CIS) and Eastern European countries, including the Czech Republic, Ukraine, Latvia, Romania, Georgia and Russia
- Served as counsel to aircraft lessors in various airline bankruptcies, including those of ATA Airlines, XL Limited, Varig Logistica S.A. and KD Avia
- Represented buyers and sellers of corporate jets in transactions, including the sale of a Gulfstream V, the purchase of a Hawker 900XP and the sale of a Bombardier Global 5000
- Represented U.S. financial services company as agent and lender in connection with senior secured financing to Norvic Shipping Group, a global dry-bulk ship operator
- Represented one of the world's largest crude oil and petroleum product tanker companies in a $390 million senior secured credit facility and debt restructuring transaction that included a ground-breaking sustainability-linked pricing mechanism, a first of its kind for a New York Stock Exchange (NYSE)-listed ship owner and operator, consistent with the decarbonization trajectory outlined in the Poseidon Principles
- Represented a private equity firm, in relation to its portfolio company, a South American-based vessel owner operator of 14 offshore support vessels, in the restructuring of its US$160 million senior secured obligations and an equity sale transaction with MexMar
- Advised a Hong Kong-based maritime company as New York counsel in connection with the sale of one of its bulk carriers
- Represented United Kingdom-based ship owner and operator as U.S. counsel in connection with $38 million senior secured financing for the acquisition of two crude oil tankers
- Represented private equity firm in sale of its portfolio company to a new joint venture owned by subsidiaries of an offshore marine support vessels company and an energy investment company
- Represented U.S. financial services company as owner in connection with a master bareboat agreement and the initial chartering of a vessel to Great Lakes Dredge & Dock Corporation
- Represented U.S. banking and financial services company in the acquisition of three Capsize vessels, each with Marshall Islands registration and bareboat charter, structured as a synthetic lease, to Cargill International
- Represented U.S. financial services company as lender in connection with financing of ferry boats owned by Port Imperial Ferry Corp.
- Represented a multinational financial services company in a series of financings in respect of commodities shipped to the U.S. from abroad and subject to commodity repurchase agreements
- Represented a multinational financial services corporation as agent in the $1.4 billion acquisition and privatization by TFM SA de CV of the primary trunk line of the Mexican railroad
- Represented U.S. financial services company in connection with several structured lease transactions in respect of railcars leased to USD Rail/USD Fleet Funding, and fleet services arrangements provided by USD Rail to its rail customers, and in relation to the provision of synthetic lease financing for a railcar owner
- Advised a large multinational bank as the senior lender in the financing of a B757 on lease to Delta
- Represented a German bank specializing in commercial transportation finance, in connection with the acquisition of two A320s by AAR International Financial Services and related leasing to Air Canada
- Represented the agent bank in the leveraged buyout (LBO) by the Carlyle Group of United Defense Industries
- Counseled the agent bank in the LBOs of Tracor, Fairchild Semiconductor, Howmet Corporation and Furniture Brands International
- Represented a commercial lending and leasing company in numerous asset-based loans
- Represented a leading international bank in the prospective forward purchase of a U.S. public company's senior secured notes
- Represented a leading global aircraft lessor in the issuance of $865 million of aircraft lease securitization notes
- Advised senior bank lenders in numerous 144A offerings, including issuances by United Defense Industries, Fairchild Semiconductor and Howmet Corporation
- Represented a British multinational banking and financial services company in a $23 million bridge financing to O3b Networks, a provider of satellite-based Internet access to developing countries
- Advised a Miami-based mezzanine fund in mezzanine financings to CorpLogoWare, Koning Restaurants, In Zone Brands, Inc., and Technion Communications Corporation
- Represented an American multinational private equity firm as mezzanine debt provider in a $550 million acquisition of HQ Global Workplaces, Inc., an international office suites operator
- Counseled an American multinational private equity firm in mezzanine financings to Paramount Cards, a Canadian greeting card company, and to American Homecare Supply, a U.S. medical supplier
- Advised the Brazilian development bank in the financing of SkyWest Airlines' acquisition of 19 Embraer E-175s for operation under a capacity purchase agreement with United Airlines
- Represented a French corporate and investment bank in the Export-Import Bank-backed financing for Turkish (THY) Airlines' acquisition of two B737-800s
- Served as counsel to a multinational investment banking firm in the $50 million export financing to Brazilian leather exporter
- Advised a multinational bank, an international telecommunications company and other equity investors in the $1.2 billion financing of O3b Network's Ka-band satellite network, which was named the "Africa Telecoms Deal of the Year" by Project Finance International and the "ECA-Backed Financing Deal of the Year" by Trade Finance Magazine
- Represented a large French bank in a $586 million project financing, backed by France's Compagnie Française d'Assurance pour le Commerce Extérieur (COFACE) for Globalstar, a provider of satellite voice and data services
Credentials
Education
- Syracuse University College of Law, J.D., magna cum laude
- Georgetown University, B.A.
Bar Admissions/Licenses
- New York
- Connecticut
- England and Wales
- Florida
Memberships
- The Wings Club Foundation, Counsel
- Maritime Law Association: Committee on Marine Financing, Marine Bankruptcy and Insolvency
- American Bar Association: Commercial Finance Committee; Subcommittees on Aircraft Financing and Maritime Financing, Air and Space Forum
- International Society of Transport Aircraft Trading
Honors & Awards
- The Legal 500 USA, Asset Finance and Leasing, 2016; Transport: Shipping – Finance, 2018-2022, 2024; Transport: Aviation and Air Travel – Finance, 2020-2023; Leading Lawyer, Transport: Aviation and Air Travel – Finance, 2023, 2024
- Holland & Knight Pro Bono All-Star, 2020, 2021
- Guide to the World's Leading Aviation Lawyers, Legal Media Group's Expert Guides, 2014-2020
- The Best of the Best USA, Aviation, Legal Media Group's Expert Guides, 2017
- Aviation ABS Deal of the Year, Global Transport Finance, 2015
- Debt Deal of the Year, Airline Economics, 2015
- North American Deal of the Year, Airfinance Journal, 2015
- Who's Who Legal: Transport, Aviation Finance, 2012-2021
- Who's Who Legal 100: Aviation, 2014
- Airfinance Journal, "Rising Star," 2010
