Practice Areas - International Finance and Bank Credit Law Firms and Lawyers
| Deal Date: | 13-11-2015 | Practice Area: | International Finance and Bank Credit |
| Deal Title: | UK Asset Resolution Sale of Portfolio to Cerberus Capital Management | Industry: | Financial Services |
| Description: |
Slaughter and May advised UK Asset Resolution on the sale of a GBP13bn asset portfolio to Cerberus Capital Management.
The sale comprised performing and non-performing residential mortgages and unsecured loans from the legacy book of NRAM, the former Northern Rock mortgage business. Due to the complex nature of the Granite securitisation programme created by Northern Rock, the transaction was structured in such a way that, subject to regulatory approval, Cerberus would purchase NRAM plc.
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| Financial Center: | London | Value: | 5001.00-10000.00 |
| Advised Party: | Vendor | Law Firm | Slaughter and May |
| Assets | United Kingdom | Acquiror | United Kingdom |
| Classification: |
Loan and Portfolio Sales Mortgage Portfolio Sales |
Lawyer | Guy OKeefe |
