Our experience

Transactions / Advice

In recent months the firm has acted for investors and noteholders in relation to:

• currently advising institutional investors in relation to holdings of repackaged Notes issued by special purpose vehicles in transactions arranged by the Royal Bank of Scotland Plc (RBS).  Following the ratings downgrade of RBS in December 2008, many series of Notes became subject to a ratings trigger which, in turn, could lead to the mandatory redemption of the Notes.  Our firm has been advising the holders of various series of such Notes, including their rights, in some cases, to require immediate repayment of principal and interest, notwithstanding the solicitation of consent from Noteholders to the waiver of the trigger event and modification to the transaction documentation
• advising on unwinding / liquidating CDO transactions
• advising pension funds on liability management issues including longevity swaps
• legal analysis of bank hybrid capital issues documentation
• advising investment funds in relation to acquisition of distressed debt instruments
• advice on termination of swap agreements and maximisation of capital recovery
• advice to institutions investing in corporate bond issues (including structured bonds)
• advice in relation to margin calls and the impact of volatile market conditions on various derivatives, especially currency and interest rate options and swaps
• advice to institutional investors holding bonds with regard to the government interventions in the Bradford & Bingley (UK) and Washington Mutual (US) 
• advice to institutional investors involving the collapsed investment bank Lehman Brothers where they are the counterparties, creditors, and noteholders in investments where Lehman Brothers is the reference entity in relation to a wide range of issues (close-out provisions, valuation methodologies, the filing of claims, guarantees, structured notes and ISDA agreements)
• advice on first to default swaps and CDS
• advice on termination of investment management agreements
• restructuring of CPPI transactions
• restructuring of synthetic CDO transactions
• restructuring of CLN transactions
• advice on variance and dividend swap transactions and other equity derivative transactions
• restructuring of variety of other bespoke structured finance transactions such as SIVs and SIV Lites
• one of the first rated CPDOs (Constant Portfolio Debt Obligations)
• various cash CDOs
• various synthetic CDOs
• the establishment of the first wholly European CDPC (Credit Derivative Product Company)
• legal due diligence in relation to the acquisition of portfolios of structured finance investments
• a variety of exotic currency and commodity swaps and options.

Clients

David Doble Solicitors acts exclusively for institutional investors in the international structured finance markets. During the same period, the firm has acted for (inter alia):

• one of the largest state pension funds in Scandinavia
• one of the largest commercial and retail banks in the Middle East
• one of the largest retail and commercial banks in Spain
• one of the largest retail banks in Germany
• one of the largest landesbanks in Germany
• one of the largest commercial banks in India
• one of the largest insurance companies in Austria
• one of the largest banks in Austria
• one of the largest commercial and retail banks in Sweden
• one of the largest commercial and retail banks in Ireland