Lovell White Durrant acted for property company Shaftesbury on its £63m debenture issue to re-finance part of the £90m it borrowed to buy the Carnaby Estate from Dutch property group Wereldhave. Linklaters & Paines advised Kleinwort Benson, the arranger and underwriter of the issue. It was the first issue to be completed in Crest, the paperless settlement system introduced last August.