Introduction

Infrastructure project financings are generally more susceptible to local law exposure than other types of structured financing because of the nature and physical location of the assets. In Europe, financings of projects may have exposure not only to local laws of states located in Europe, but also to the laws of the European Union (EU) that relate to competition. The nature of these laws is that business enterprises (including infrastructure projects) and even member states of the EU may not indulge in anti-competitive behavior. As a result, a violation of these laws ...