Victoria Westcott | White & Case LLP International Law Firm, Global Law Practice

Victoria Westcott

Partner, Paris

T +33 1 55 04 15 23

T +33 1 55 04 15 15


“She is excellent across the board. She brings her experience to the negotiation table and has a strong team behind her. She knows what lenders are looking for and can advise on how to achieve it, including during transactions with no precedents to refer to.”

Chambers Europe, France, PFI/PPP, 2017


Victoria Westcott, dual qualified to practice under English law and French law, focuses on project finance, asset finance and export finance.

Handling deals from West Africa to Turkey as well as throughout Eastern and Western Europe, Victoria offers her clients particular understanding of transportation and social infrastructure project finance, as well as energy sector finance.

She is regularly ranked among the leading lawyers in Project Finance by directories such as Chambers where she is praised in 2015 for her "dynamism and deal-making spirit," and the fact that she is "overseeing the work and very much involved in the delivery of the job."

Project financing, particularly complex cross-border deals, often involve multiple parties including multilateral financing institutions and commercial banks as well as industrial and financial investors, and Victoria is adept at keeping projects moving and ensuring smooth progress along the way.

Her asset finance work involves leasing transactions, financing and tax-driven structures, secured and unsecured syndicated lending and export credit financing and covers aircraft, shipping finance, satellites, equipment and other large assets.

Clients value her broad experience handling leasing transactions, financing and tax-driven structures, secured and unsecured syndicated lending, PPP and concession based financing and export credit financing.

Bars and Courts

  • Solicitor of England and Wales
  • Avocat au Barreau de Paris


  • LLM, European Legal Studies
  • Law Society Finals
  • LLB Law


  • English
  • French


Asset Finance:


Refinancing of a Fleet of Helicopters, 2014 - 2017
Representation of Société Générale in the refinancing of a fleet of 17 helicopters for Norwegian company Blueway A.S. The refinancing was implemented in conjunction with the acquisition of Blueway by Belgian group NHV. Further, representation of Société Générale as arranger and lender in the financing by way of French tax lease of two new H175 helicopters for NHV Group.

Corsica Ferries, 2015
Representation of BRED and Société Générale in the bridge financing by way of mortgage loan and subsequent long term financing by way of French tax lease of a passenger ferry vessel for Corsica Ferries and sub-leased to Tallink Grupp.

Refinancing of a vessel fleet, 2015
Representation of Société Générale and HSBC France in an €86 million vessel refinancing for Alda Marine, a subsidiary of Alcatel Lucent Submarines.

Export Credit Financing for RCCL, 2013 – 2014
Representation of BTMU, Santander and KfW in the Coface-supported US$ financing of Royal Caribbean's purchase of an Oasis-class passenger cruise vessel being manufactured by STX France. This US$ financing takes the place of the cancelled portion of the € facility that we closed in July 2013 on behalf of Société Générale, HSBC France, BNP Paribas and Natixis, which has been amended to accommodate the new US$ facility.

Italian Tax Lease, 2014
Representation of Société Générale in connection with the ECA-supported financing under an Italian tax lease structure of two airbus aircraft for Turkish Airlines.


Project Finance:


Olympique Lyonnais, 2013-2017
Representation of Olympique Lyonnais, the French association football club, on the debt financing and bond financing (with regard to the second and third bond issues) as well as further on the refinancing of new stadium, Stade de Lyon and related training facilities, near Lyon in France.

Ikitelli hospital in Turkey, 2017
Representation of JBIC in connection with the financing of the Ikitelli Healthcare Campus PPP project in Turkey.

Hungarian motorways, 2016
Representation of  a consortium that comprises Aberdeen Asset Management, Intertoll and the European Bank for Reconstruction and Development (EBRD) on its acquisition for around €90 million of controlling stakes in two Hungarian motorway concession companies.

Adana and Yozgat hospitals in Turkey, 2014-2016
Representation of the lenders of a consortium composed notably of Rönesans and Meridiam, on the financing and construction of both Adana and Yozgat hospitals in Turkey. The Adana project, which financing amounts €550 million, was awarded "European PPP Deal of the Year" by IJGlobal 2015, "Best PPP Deal of the Year" and "Best social development Deal of the Year" by EMEA Finance 2015.

Oil and gas platform expansion project, Côte d'Ivoire, 2013
Representation of a French sponsor in connection with the financing of the construction of a new oil and gas platform to expand its existing operations in Côte d'Ivoire, including the implementation of MIGA coverage and a Partial Risk Guarantee from the World Bank and further advising the same sponsor in the acquisition and financing of its joint venture partner's interest in the project.

Financing a new tolling system, "Ecotaxe", 2011 – 2014
Representation of a group of six commercial banks providing finance to the consortium composed of Atlantia (Autostrade per l'Italia) and six of its partners, from its group of key suppliers, in the PPP project for the design, construction, financing and operation of a new tolling system, "Ecotaxe", which was first implemented in Alsace and subsequently all over France, for heavy load vehicles using the French national road network. This transaction was awarded "PPP Deal of the Year" by Project Finance International 2011 and "Technology Deal of the Year" by Project Finance 2011. Further, representation of the lenders in connection with the major restructuring of the Ecotaxe project following the reassessment of the initial project by the French government.


Speaking Engagements

European Infrastructure Finance Summit: "Discovering opportunity in a new era of investing", October 2016:

6th Annual World Infrastructure Summit, IJGlobal, September 2015:

European Infrastructure Finance Summit: "Greenfield Risk: How can investors and governments mitigate and fairly apportion liability for vital infrastructure build?", October 2014:


  • Coface, les Financements aériens, French Banking and Finance Law Revue, December 2010
  • A Framework for Slovak Roads, Project Finance International, September 2008
  • An Uncertain Environment, the effects of the entry into force of Hungary's Electricity Act 2001 implementing the European Electricity Directives and the liberalization of the Hungarian electricity sector, Energy International, February 2003

Awards & Recognition

Leading Lawyer: Projects: International Projects - France, Chambers 2016

Central & Eastern Europe Foreign Experts: Projects: International Projects - France, Chambers 2016

Leading Lawyer: Transportation: Aviation Finance- France, Chambers 2016

Leading Lawyer: Transportation: Shipping Finance- France, Chambers 2016