Lovells'rescue remedy team Of The Month

摘要

Capital markets bankers may have been having a listless time until relatively recently, but some specialist lawyers have been very busy indeed. One blur of activity has involved the salvage of shipwrecked structured investment vehicles (SIVs), and here no one has been more visible than the team from London-based firm Lovells. The final chapter in the brief and ultimately unhappy history of the SIV is still being written, as wiped-out Sigma Finance creditors try to take their case to the UK's House of Lords. Of that, more later. Lovells' part in the story becomes significant with the restructuring of Cheyne Finance, a $7bn SIV run by Cheyne Capital - a restructuring that became a template for other sunken SIVs.