Issuer, Trustee and Servicer

Examples of our work include advising on the following matters:

Issuer & Corporate Service Providers

• a GBP and USD LIBOR remediation project in respect of 40+ "tough legacy" public securitisations. Fieldfisher Capital provided analysis on the impact of benchmark transitions on transaction cash flows.
• ongoing issues and restructurings relating to a GBPmultibillion structured finance programme following the insolvency of the originator and collateral administrator.
• a series of 40+ issues and disputes instigated by a market participant who sought to take control of the SPV issuers and their underlying assets.

Corporate Trust & Agency

• the trustee, cash manager, account bank, paying agent, registrar and note calculation agent on a GBP2bn privately placed bespoke repo-backed securitisation.
• the collateral agent on a USD300m financing of a petroleum assets acquisition.
• an escrow agent on potentially contentious sanctions issues.
• the trustee and agents on a comprehensive USD1.5bn refinancing of a luxury car manufacturer.
• the security agent on a series of CRE loans both on origination but also on post-closing amendments, defaults and enforcement.

Servicers

• the replacement of GBP LIBOR as the benchmark for residential mortgages, including liaising with the FCA re. mortgage prisoners.
• the legal title holder on the new FCA Consumer Duty Regulations across its whole portfolio of regulated mortgage loans underlying 13 public and private securitisations and funding lines.
• the servicer on a redemption of a securitisation including the associated loan sale auction process and the unwind and replacement of the servicing arrangements.