Clive Smith

Clive Advises

• Financiers
• Lessors
• Manufacturers
• Operators

Experience Highlights

• Advising Eversholt Rail in respect of:
  • the May 2022 transfer of operations into the DfT’s Operator of Last Resort for the TransPennine passenger rail network, including the transfer, extension and amendment of all contractual documentation relating to the leasing and maintenance of Eversholt’s fleets of Class 185 and Class 397 rolling stock, together with the close-out of all contractual positions with the departing operator, owned by FirstGroup
  • various contractual arrangements with East Midlands Railway (EMR), in connection with the grant to EMR of its new National Rail Contract, including: (i) the extended leasing of their fleets of Class 222 and Class 170 rolling stock; and (ii) the design, supply and installation of certain ‘first-in-class’ energy and fuel efficiency modifications to the traction system of the Class 222 fleet
  • the April 2022 transfer of passenger rail operations into Transport Scotland’s Operator of Last Resort for the Scottish network, including the new and extended leasing arrangements for Eversholt’s fleets of Class 318, 320, 320/4; 334 and 380 multiple units, leased into the ScotRail network
  • the October 2021 transfer of passenger rail operations into the DfT’s Operator of Last Resort for the Southeastern network, including the transfer and extension of the leasing arrangements for the circa 1,000 passenger rail vehicles leased by Eversholt into Southeastern (comprising separate fleets of Class 375/376; 465 and 395 multiple units)
  • the transitioning of all Eversholt’s relevant rolling stock arrangements through the different phases of the DfT’s Emergency Measures Agreements and Emergency Recovery Measures Agreements, introduced in response to the collapse in passenger demand following the outbreak of the COVID-19 pandemic
  • its circa £500,000,000 acquisition and leasing of Hitachi-manufactured Class 802 multiple units, for operation by GWR
  • its circa £490,000,000 acquisition and leasing of CAF-manufactured Civity UK multiple units, for operation by Northern
  • its circa £135,000,000 acquisition and leasing of CAF-manufactured Civity UK Intercity multiple units, for operation by Transpennine Express
• Advising SMBC & Equitix as co-equity sponsors in respect of the 2018/19 procurement of circa £1,000m of new rolling stock for the Wales & Borders network
• Advising Rail Operations Group on its flagship order of 10 x Class 93 tri-mode locomotives from Stadler Valencia, together with options for the ordering of up to 20 additional locomotives
• Advising CAF as the manufacturer of a new circa €200m fleet of Civity UK diesel multiple units, ordered by West Midlands Trains in 2018
• Advising Siemens in respect of the manufacture, supply and maintenance arrangements for the 2015 order by South West Trains of a new circa £230m fleet of Class 707 Desiro City multiple units

Career History

Previous Law Firms

• Addleshaw Goddard, Partner (2017–2022)
• Osborne Clarke, Partner (2011–2017)
• DLA Piper, Associate (2008–2011)
• Norton Rose Fulbright, Associate (2001–2008)

Education

• St Hugh’s College, University of Oxford (1995–98)
• Oxford Institute of Legal Practice (1998–99)