Clifford Chance has advised J.P. Morgan on the financing of the acquisition of a portfolio of non-performing loans belonging to HSH Nordbank AG via hsh portfoliomanagement AöR. The portfolio volume covers up to EUR 6.2 billion. The deconsolidated environment for this acquisition, hsh portfoliomanagement AöR, was established by the Federal States of Schleswig-Holstein and Hamburg at the beginning of this year.

The Clifford Chance team was jointly led by partners Dr. Bettina Steinhauer (Frankfurt) and Barbara Mayer-Trautmann (Munich, both Banking & Capital Markets) and comprised partners Dr. Marc Benzler and Dr. Oliver Kronat as well as senior associate Dirk Brouwers (all Banking & Capital Markets, Frankfurt), partner Dr. Joachim Schütze and associate Anne Filzmoser (both Corporate/Antitrust, Düsseldorf), partner Dr. Felix Mühlhäuser and senior associate Dr. Heiko Kermer (both Tax, Frankfurt), as well as partner Dr. Frank Scholderer (Corporate) and Dr. David Elshorst (Real Estate, both Frankfurt).