Ashurst advised The Royal Bank of Scotland plc (RBS) on the sale of a German portfolio of first lien residential mortgages over approximately 700 properties throughout Germany to Macquarie Corporate and Asset Finance (CAF).

The portfolio with an aggregate face value of approximately €90 million was held by a Dutch subsidiary of RBS and no longer part of RBS' core business. Macquarie acquired the portfolio through a competitive auction.

The Ashurst team was led by corporate partner Lars Jessen (Munich). He was supported by senior associates Dr Fabian von Samson-Himmelstjerna and Sören Kampmann as well as associate Jan Kupfer (all corporate). Counsel Dr Anna-Katharina Lohbeck advised on issues of banking secrecy and data protection law. Partner Dr Tobias Krug and senior associate Dr Tanja Richter (both international finance/regulatory, all Frankfurt) advised on regulatory aspects.

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