Michael Moriarty, David Glanz and Team Counsel on Substantial Multi-State Loan Portfolio for European Bank Implementing a New Global Strategy



Thursday, September 29, 2011

Michael Moriarty and David Glanz (both Partners, New York), together with Julian Buchbinder, Rachel Morrissey and Rob Wilk (all Associates, New York), representing a large European bank, successfully completed the $178 million restructuring of a multi-state portfolio of commercial mortgage real estate loans, simultaneously with a restructuring of other distressed commercial real estate assets in Europe.

The deal involved downstream and upstream guarantees, interest rate swap instruments and coordinated global cash flow provisions, and was executed in several phases. The client is a leading European bank in the midst of implementing a new global strategy.

Learn more about our Workouts and Restructurings practice.