"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Monday, October 20, 2008

The sun set on Commercial Mortgage-Backed Securities 12 months ago ... did someone know the gig was up ?

If you land on the Sidley Austin website that covers the activities of their Mortgage-Backed Securitization / Commercial Mortgage-Backed Securitization you will find their is a degree of refreshing historical data about thier activities ...

For 2006, Sidley was ranked by Commercial Mortgage Alert as number two issuer counsel and number four underwriter counsel for U.S. Commercial Mortgage-Backed Securities. For 2005, we were ranked number two issuer counsel and number three underwriter counsel. In the past year our lawyers closed, or otherwise played critical roles in, the issuance of more than $25 billion of commercial mortgage-backed securities. This reflects our continuous leadership in the field, beginning with the representation of the registrant in the first CMBS “shelf” registration statement to be declared effective, and in the first CMBS shelf “takedown.”

...their last activity ...as recorded by a Press Release (and Sidley Austin, employees of both Michelle Obama and Bernardine Dohrn wife of Prof. Bill Ayers are not shy of issuing Press releases is of interest to shareholders in the yet to implode Barclays bank ...

Sidley Austin Advises Barclays Capital on £918,862,000 GEMINI (ECLIPSE 2006-3) PLC CMBS November 30, 2006
London – The London office of Sidley Austin has advised Barclays Capital on its recent £918,862,000 GEMINI (ECLIPSE 2006-3) PLC UK CMBS transaction, one of the largest sterling CMBS issuances undertaken this year. The transaction is the seventh issuance in Barclays Capital's CMBS conduit programme, which is branded "ECLIPSE", but it is the first occasion on which Barclays Capital has instructed Sidley Austin as its counsel.

The transaction involved the offering of £918,862,000 notes by GEMINI (ECLIPSE 2006-3) PLC. The notes offered were backed by a single loan secured over a portfolio of 36 commercial real estate assets (comprising office, industrial, retail and leisure assets) located across the UK.

Sidley Austin also acted for Barclays Bank PLC as lender in the origination of the loan which was made in early August of this year. Partners in the Sidley Austin Finance Group Debbie Carslaw, Mark Menhennet, Graham Penn and Partha Pal led the team handling the origination of the loan, assisted by a team of associates including Paul Gray, Sharon Smith, Pamela Clarke, James Bucke, Kirsten Bradby and Sunil Desaur. Partha Pal led the team handling the securitisation, assisted by associates Lisa Avellini, Alex Campbell, Paul Gray and Michael Killourhy.

Partner Andrew Bliss advised Barclays Capital Mortgage Servicing Limited as Master Servicer and Special Servicer on the transaction. Partner John Russell advised The Bank of New York as Trustee on the transaction, assisted by Sarah Murphy.

Partner Graeme Harrower advised on UK taxation for all aspects of the transaction, assisted by Kate Aubury.

Which leaves you wondering what Debbie Carslaw, Mark Menhennet, Graham Penn and Partha Pal, Paul Gray, Sharon Smith, Pamela Clarke, James Bucke, Kirsten Bradby, Sunil Desaur, Andrew Bliss , John Russell , Sarah Murphy, Graeme Harrower and Kate Aubury have been doing for the last 12 months.

1 comment:

Commercial Finance Advisors said...

Well, what where they doing?

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish