Author: Scott L. Hoffman
Publisher: Cambridge University Press – 474 pages
Book Review by: Sonu Chandiram
A detailed table of contents spanning 37 pages for this book, makes it easier for business people, and particularly lawyers, to search for topics they are concerned about in a pending litigation matter or an agreement they may be signing soon. Within that list are 33 chapters, too numerous to name in this book review. But here are the ten Parts that constitute this book that we provide you as an overview of what you will find in it:
- Part I – An Introduction to Project Finance
- Part II – Risk Identification, Allocation, and Mitigation
- Part III – Project Finance Structures
- Part IV – Technical, Political, and Economic Feasibility
- Part V- Project Finance Documentation
- Part VI – Credit Enhancement
- Part VII – Debt and Equity Financing
- Part VIII – Collateral
- Part IX – Project Sponsor and Investor Agreements
- Part X- Special Topics
In addition to the above list of Parts, the author Scott L. Hoffman has also provided these items to enable you to read and negotiate project contracts more easily:
- Bibliography
- Checklist
- Glossary
At the outset of this book in the Preface, Hoffman states that project finance is a ‘complex area’. That may be an understatement, because in order to be successful in this field, you need experience if not expertise, information, insight and knowledge on the following essentials (listed alphabetically instead of order of importance):
- Accounting rules and practice
- Anti-corruption awareness
- Competence in protection and promotion of investments
- Consumer protection regulations guidance
- Environmental laws
- Governmental contracts
- Insolvency law
- International law
- Property law
- Securities interests and laws
- Tax law
This third edition is a complete update of the book published in 2009, and follows two previous editions printed in 1997 and 2008. But its origin began with an article the author wrote for the journal Business Lawyer appeared in 1989.
Since then, Hoffman points out, the field of project finance has grown tremendously, with many entities now involved in it, among them being not only development companies, but also financial institutions, government entities, investors, law firms and rating agencies.
Being that project finance is a complex area with many details to be overseen, each chapter of this book begins with a checklist of items the reader or student needs to look into before and after reading the chapter to ensure he or she has covered and thoroughly understood every nuance of each topic in that particular chapter.
Overall, this is a thoroughly researched and carefully written book for those involved in any way in the project finance field.
Author :
Scott L. Hoffman is an internationally recognized legal authority in project finance. His active involvement in the project finance industry over the past 22+ years includes representation of Fortune 500 companies, utilities and banks, and testimony before the United States Congress on energy-policy making.
As a partner at Evans, Evans, and Hoffman LLP, he practices energy and environmental project finance, international banking and commercial law, and represents energy development companies in the acquisition, financing, and development of energy projects around the world.
He received his Juris Doctor degree from Syracuse University College of Law where he was on the managing editorial board of the Syracuse Law Review and served as Editor of its Annual Survey of New York Law. Mr. Hoffman has published numerous editions of his books, as well as many project finance articles for professional and trade journals. He is a member of the United States Supreme Court, and the New York State, District of Columbia, and Ohio bars.
