Virginia Murray
Partner

FINANCE

ATHENS

T: +30 210 455 7300
D: +30 210 455 7303
M: +30 69 3663 1865

EmailE: vmurray@wfw.com

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Virginia Murray

Summary Open

Virginia Murray is a partner in the international Project & Structured Finance Group and head of the Greek law corporate, projects and finance practice of the Greek office. Virginia graduated from Cambridge in 1989 and practised as a barrister in London for five years before moving to Athens and qualifying as a Greek lawyer in 1998.

She joined Watson Farley & Williams in 2007 after ten years at a major Greek commercial law firm and specialises in acquisitions and financing in the infrastructure and energy sector, as well as real estate, corporate M&A, insurance and finance deals in Greece for Greek and foreign investors and banks. She is described in the two largest global legal reviews as ‘extremely capable when it comes to drafting complex structures’ and ‘widely admired for her transactional expertise…, especially on cross-border mandates’.

Virginia is fluent in Greek and in 2012 was named Best Lawyer’s 2012 Athens Energy Lawyer of the Year.

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Experience Open

    • Acting for the Hellenic Republic Asset Development Fund SA (as international and Greek legal advisor) on the sale and lease back of 28 public buildings.
    • Acting for the Hellenic Republic Asset Development Fund SA (part of the international legal advisory team) assisting on contractual drafting for the sale of the entire shareholding of Hellinikon SA, the company which will hold the development rights to the 6-million sq.m. former Athens airport site.
    • Representing Iktinos SA (together with Professor Lazaratos) on its application to the Supreme Administrative Court to set aside the “exceptional solidarity levy” on the income of Greek photovoltaic projects imposed by Law 4093/2012. Iktinos SA obtained the first hearing of a pilot trial in this matter, which was heard before the full bench of the Supreme Administrative Court in October 2013. Judgment is awaited.
    • Acting for an international airport developer on its participation in the public tender for 30-year operating concessions for Greek regional airports.
    • Representing London-based Good Energies Investments Ltd (formerly known as Englefield Renewable Energy Fund) in relation to its acquisitions of various Greek companies with development and operating wind farms from Greek, German and Japanese energy companies. Work included due diligence reporting, drafting and negotiating share acquisition agreements, shareholders’ agreements and development agreements with Greek, German and American developers, including the purchase of the Polipotamos 12 MW operating farm, a portfolio of operational and development wind assets from another German developer and three wind farm developments from two separate Greek developers
    • Acting for AES Solar Energy Ltd, a joint venture between AES Corporation and Riverstone, on the acquisition of a 4.316 MW PV project in Florina, Greece and Greek-law bond loan financing of the project with LBBW
    • Advising HSBC Madrid Branch and Alpha Bank of Greece on a club deal Greek-law bond-loan of €43m to refinance one of Greece’s largest wind farms, Panachaiko I near Patras, and provide project finance for the construction of the Panachaiko II project, which was finally released from the administrative litigation which had delayed the project.
    • Advising Heliosphera SA and its founder on construction and supply contracts as well as junior bond-loan equity financing and joint venture arrangements for the construction of a 60 MW capacity thin-film solar panel factory in the Peloponnese, Greece (total investment €180m)
    • Acting for EEN Viotia, the joint venture between French EDF EN S.A. and the Greek PPC Renewables S.A., in the negotiation and drafting of Greek law bond loan project finance for three wind farms in Greece (total 38MW) from Unicredit Bayerische HVB as initial bondholder.
    • Advising Standard Chartered Bank on a US$50m reserve-based reducing senior facility and US$10m junior facility to fund new drilling in new offshore oilfields in northern Greece. Aegean Energy S.A. was the borrower.
    • Acting for the vendor, an Athens listed marble quarrying and trading company, on the sale of its snow-white marble quarry subsidiary in the former Yugoslav Republic of Macedonia to a UK equity investor

Education Open

  • 1992: MA
  • 1991: Inns of Court School of Law – Bar Professional Course (Merit pass)
  • 1989: Peterhouse, Cambridge University – BA in Law: 2.1

Author/Speaker/Awards Open

  • “Wilful Misconduct and the CMR”, European Transport Law, Vol
  • “Project Finance – How can Greece prepare itself?”, American-Hellenic Chamber of Commerce
  • “Hellenic Insurance Contract Law”, author of English translation, published by Sakkoulas
  • “Financing Large Projects”, speaker and co-ordinator of workshop, Athens Chamber of Commerce
  • “Insurance Market in Bulgaria”, speech at “Insurance Opportunities in the Black Sea States”, Istanbul

Membership of Professional Societies Open

  • Bar Council of England and Wales (non practising member)
  • Athens Bar (full practising member)
  • Registered arbitrator for energy disputes at the Greek Regulatory Authority for Energy

Employment Record Open

  • 2007 – Present: Watson Farley & Williams, Athens
  • 1997 – 2007: I. K. Rokas & Partners, Athens
  • 1992 – 1997: Chambers of Simeon Maskrey QC, 7 Bedford Row, London

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