Our global corporate trustee team advises a range of international corporate trustees and agency services around the world. With expertise throughout Europe, Asia, Australia, Canada, Africa, the Middle East, Latin America and Central Asia, we can advise trustees on the full range of corporate legal services throughout the globe.
We have expertise in sophisticated, technical and fast developing specialist areas such as Islamic finance and derivatives, and our team regularly advises trustees on complicated and innovative structured finance transactions (including securitisations, CDOs and CLNs).
Our cross-disciplinary team comprises specialists in securitisation, debt capital markets, banking litigation, general banking, Islamic finance, restructuring and insolvency.
Our areas of work include:
- asset finance
- dispute resolution
- enforcement of security
- exercise of discretions granted to the trustee
- general debt
- project financing
- repackaging and structured finance
Our recent work:
- Advising the issuer of a Dutch CMBS which was the first European CMBS to default at final legal maturity. The issuer, together with the trustee, was required to consider and approach noteholders in respect of two competing restructuring proposals following the failure of the special servicer’s attempt to sell the underlying property assets prior to final legal maturity. Ultimately, the class A noteholders, as the controlling class, approved a “credit bid” where an entity sponsored by private equity firms Patron Capital and TPG acquired the notes of the class A noteholders and “crammed-down” the junior noteholders by using the debt under the class A notes to acquire the underlying properties on an enforcement sale
- Advising Capita Trust Company Limited (Capita) in connection with the innovative restructuring of the pension liabilities of Uniq Plc (Uniq), the first pension deficit for equity swap of a listed company to take place in the UK with this structure. Capita were mandated to set up and manage a special purpose vehicle that played an integral role in this restructuring. Our team advised Capita in connection with the tax, employment, insolvency, directors’ liability/responsibility, publicity and corporate administration risks associated with this restructuring
- Advising Structured Finance Management Limited and Bovess Limited in connection with the ground-breaking £3 billion restructuring of Cattles plc and the Cattles group, where Structured Finance Management Limited was mandated to provide corporate administration and directorship services to Bovess Limited, a special purpose vehicle incorporated to facilitate the restructuring