White Tower securitisation
We have acted for the Special Servicer of a £1.45 billion commercial real estate loan made to the Protractor Group, which was a complex structure of Jersey companies, limited partnerships and Jersey and Guernsey unit trusts. The senior tranche of the loan was subsequently securitised in the White Tower CMBS transaction.
We provided wide ranging advice covering security enforcement, insolvency and corporate matters as well as litigation support to allow the Special Servicer to manage and realise the assets of the Protractor Group as efficiently as possible.
We have advised the Special Servicer in relation to Jersey and Guernsey law aspects during the realisation of the underlying property portfolio. In particular, we have advised on all aspects of the sale of units in the Jersey and Guernsey unit trusts, which led to stamp duty efficiencies and increased proceeds for secured creditors.
For further information please contact Alasdair Hunter.