CC, Lovells lead on SIV restructurings

Clifford Chance is advising Goldman Sachs on its restructuring of a series of structured investment vehicles (SIVs). Lovells has joined Clifford Chance on several of these high-profile SIV restructurings, with Clifford Chance partner David Steinberg leading the team advising Goldman Sachs on restructuring the 7bn Dollars (£3.57bn) SIV formerly owned by hedge fund Cheyne Capital. Lovells insolvency partner Robin Spencer and capital markets partner James Doyle are leading the team advising the receiver Deloitte. Goldman Sachs won a beauty parade last autumn of investment banks including Deutsche Bank and Morgan Stanley tendering to restructure a series of SIVs.