Clifford Chance (CC) and Allen & Overy (A&O) have won the leading roles on the UK government’s disposal of £2.7bn of ‘bad bank’ mortgages to a consortium led by JP Morgan.
October 22, 2014 at 07:26 PM
1 minute read
The original version of this story was published on Legalweek
Clifford Chance (CC) and Allen & Overy (A&O) have won the leading roles on the UK government’s disposal of £2.7bn of ‘bad bank’ mortgages to a consortium led by JP Morgan.
UK Asset Resolution (UKAR), which is responsible for winding down £75bn of historic loans from failed banks Northern Rock and Bradford & Bingley, offloaded 27,000 residential mortgages in what is thought to be the holding company’s largest asset sale since its establishment in 2010.
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