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Paul Hastings Advises Servicer on Restructuring of Largest CMBS ever issued in Europe

December 21, 2012

London, UK - Paul Hastings (Europe) LLP, a leading global law firm, announced today that it represented Capita Asset Services, as servicer of the EUR 4.3 billion CMBS transaction issued by German Residential Asset Note Distributor plc (the "GRAND CMBS"), the largest CMBS ever issued in Europe, with respect to the restructuring of the GRAND CMBS.

Unusually, the restructuring of the GRAND CMBS has been implemented by a solvent scheme of arrangement, a first for a CMBS restructuring.

Collectively the GRAND CMBS debt is serviced by approximately 180,000 properties across Germany.

London Finance partner

led the Paul Hastings team, which also included Tax partner , Frankfurt Finance partners and , assisted by , , , Angela Morgan, , , , Fritz Kleweta,  and .

Paul Hastings LLP 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. Please visit www.paulhastings.com for more information.

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