Paul Hastings Advises Capital Trust in Debt Restructuring
New York, NY
(April 5, 2011) - Paul, Hastings, Janofsky & Walker LLP, a leading global law firm, announced today that the firm advised real estate finance and investment management company Capital Trust, Inc. in the out-of-court restructuring of the companys approximately $580 million outstanding recourse debt obligations, representing a complete resolution of the company's legacy liabilities.
The restructuring involved the transfer of substantially all of its directly held interest earning assets to a newly formed subsidiary of Capital Trust, CT Legacy REIT, and was financed with a $83 million mezzanine loan made to CT Legacy REIT and the issuance of equity interests in CT Legacy REIT to certain creditors.
Paul, Hastings, Janofsky & Walker is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies.