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Paul Hastings

Financial Services 2010 (2)

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RankingCommended
InnovationFirst extension of term asset-backed securities loan facility (Talf) to cover commercial fleet leases
Originality6
Rationale5
Impact6
Total17
DescriptionAdvising PHH, a large US mortgage and commercial fleet organisation, the firm worked to extend Talf to include asset-backed securities for commercial fleet leases. It required lobbying of government and devising a readily available solution

Financial Services 2010

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Rankings at a glance
RankingCommended
InnovationDivesting operations in light of the so-called "Volcker rule" of the Dodd-Frank Act
Originality7
Rationale6
Impact6
Total19
DescriptionRepresented Citigroup, the US bank, in the $12.5bn sale of its global property investment management platform. This was the first time this type of platform had been sold since Lehman Brothers disposals. The deal was complicated by consideration of global fiduciary duties and by the number of parties involved