Reed Smith and Clifford Chance among firms advising on £662m Eurosail restructuring
Reed Smith, Allen & Overy and Clifford Chance were among firms advising on the restructuring of a £662m residential mortgaged-backed securitisation (RMBS) by Eurosail-UK 2007-5NP, originally arranged by Lehman Brothers. The transaction is the second UK Lehman RMBS deal to be effectively restructured to resolve the ‘broken swap’ issues since Lehman Brothers’ bankruptcy in 2008. […]