Paul Hastings Advises Capita Asset Services as Special Servicer in the Sale of the Xanadu Loan
Frankfurt, Germany Paul Hastings LLP, a leading global law firm, announced today that the firm has advised Capita Asset Services, Europe's largest provider of loan services to financial institutions' loan portfolios and securitised pools of commercial mortgage loans, in connection with the restructuring, the proposed insolvency plan proceedings of the borrowers and sale of the Xanadu loan owned by Cornerstone Titan 2007-1 PLC with a nominal amount of over €266 million outstanding. Cornerstone Titan 2007-1 was originally a securitisation of 32 commercial mortgage loans originated by Credit Suisse and Capmark Bank Europe, with an aggregate balance of EUR1.32bn.The transaction is subject to several closing conditions.
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