Clifford Chance
Paul Carrington specialises in financing, leasing, sales and complex structured transactions involving transportation assets, as well as M&A transactions in the transportation industry.
Paul is the head of the firm's Global Rail Group, and has a particular focus on the rail and aviation sectors, acting for financiers, arrangers, manufacturers, leasing companies, operators and owners. Paul is described in Chambers 2017 as "very good and bright, someone who negotiates hard, knows when to fight and when to give."
- Advised the Rock Rail consortium in relation to the GBP£1 billion purchase, leasing and debt financing of Bombardier rolling stock for the South Western Trains franchise
- Advised ING Capital on the pre-delivery payment financing of eight A350 aircraft for Ethiopian Airlines, their first Airbus order
- Advised the Rock Rail consortium in relation to its bid for the purchase, leasing and debt financing of specific rolling stock units for the East Anglia franchise
European Rail Deal of the Year 2016 – PFI
- Advised a bidder in connection with acquisition of the government's 40% minority stake in Eurostar
- Advised Vermillion Aviation (a joint venture between MCAP and Cheung Kong Holdings) on the acquisition and financing of a portfolio of 14 aircraft valued in excess of USD$700 million
- Advised EIB in relation to the financing of Phase 2 of the Intercity Express Project (IEP) for an amount in excess of GBP£2 billion
European Rail Deal of the Year 2014 - IJGlobal
- Advised Lead Arrangers in relation to the financing of the Thameslink Rolling Stock Project (TRSP) for an amount in excess of GBP£1.5 billion
EMEA Rail Deal of the Year 2014 - PFI Yearbook Awards
- Advised The Royal Bank of Scotland plc on the groundbreaking USD$7.3 billion sale of its commercial aircraft leasing business, RBS Aviation Capital, to a consortium led by Sumitomo Mitsui Banking Corporation
Aviation M&A Deal of the Year – Global Transport Finance Awards 2012; Overall Deal of the Year – Airfinance Journal 2012
- Clifford Chance advises MC Aviation Partners on the establishment of an aircraft leasing joint venture with Cheung Kong and the related sale of 15 aircraft for USD$730 million
- Clifford Chance advises the lenders on Thameslink project worth circa GBP£1.6 billion
- Clifford Chance advises RBS on the sale of its Aviation Capital business for USD$7.3 billion
News and client work
Contact details
- Clifford Chance, London
- +442070068124
- Email me
- Practice area Global Financial Markets
- Sector Aerospace & defence, Aviation, Banks, Rail, Transport & logistics, Transportation infrastructure
Career and qualifications
- University of Queensland, Australia (LLB) 2002
- University of Queensland, Australia (BSc Biochemistry & Microbiology) 2002
- Admitted as a solicitor in New South Wales, Australia 2003
- Joined Clifford Chance 2005
- Admitted as a solicitor in England & Wales 2015
- Partner since 2015
Professional bodies
- Law Society of England and Wales
- Law Society of New South Wales
Awards and citations
- "He is exceptionally strong from a technical legal perspective, with deep sectoral and industry knowledge and awareness. He is creative and solution-focused with a very calm demeanour."
Chambers UK-Wide 2025: Asset Finance: Aviation Finance: Band 1 - Recognized as a "Leading Partner"
Legal 500 UK 2024: Transport: Rail
- “Rising Star” – Expert Guides United Kingdom 2014
- “Rising Star” – Airfinance Journal Guide to Aviation Lawyers 2013