Track the fallout from the mortgage meltdown (or the uptick, if you’re a bankruptcy lawyer) in our roundup of stories about the battered economy’s effects on the legal profession.
To respond, Rockett said, he and his team were careful to keep the agencies advised each step of the way. CapitalSource was also creative in its approach and disciplined in the way it took on those issues.
“They had to be very careful and intelligent in the matter in which they undertook this transaction so that they didn’t take on the troubled aspects of this institution,” he said.
Given all the factors at play, Rockett said, he doubts the complex structure will be replicated. “These are very unique circumstances, so I don’t think it’s a template for future situations.”
Rockett, a partner in the banking and leveraged finance practice, led the Bingham legal team. He received assistance from San Francisco banking and leveraged finance partner Thomas Reddy and of counsel David Gershon, Walnut Creek tax partner Roger Ehlers and attorneys on the East Coast.
Fremont was represented by a PATTON BOGGS team led by Washington, D.C., partner Norman Antin, who focuses on securities and M&A work.
