International law firm Mayer Brown advised Lone Star on financing of a structured credit portfolio. IKB has sold structured credit products from its portfolio in the amount of nominal 2.6 billion Euro to a special purpose entity, among these primarily the so-called Collateralized Debt Obligations (CDO) and Residential Mortgage Backed Securities (RMBS). The special purpose entity was financed, amongst others, by Lone Star, the new controlling shareholder of IKB. The very complex credit products were inter alia to be evaluated under regulatory and tax-based aspects in several jurisdictions.

The Mayer Brown Team working on the deal included partners Dr. Ingo Kleutgens (coordination, Tax), Dr. Jörg Wulfken (coordination, Banking & Finance), Andreas Lange (Banking & Finance), Dr. Benedikt Weiser (Corporate, all Frankfurt), Sandy Bhogal, Michael Cashman (both Tax, London), Erwan Heurtel (Paris), Paul A. Jorissen (Banking & Finance, New York) as well as associates Kai Liebrich (coordinating associate) and Matthias Gippert (both Banking & Finance, Frankfurt).

For further information:

Dr. Jens Peter Schmidt
Partner, Brussels
T: +32 (0) 2 551 5969
jpschmidt@mayerbrown.com