Slaughter and May, working as a team with Uría Menéndez, advised Parque Principado, S.L. on its standstill request in respect of a EUR 113,400,000 loan advanced to it by Calyon in 2006 and on the associated consent solicitation made to the holders of notes issued by RIVOLI Pan Europe 1 plc, the CMBS structure into which the loan had been securitised, for approval of the standstill request. The standstill proposal was approved by noteholders on 15 July 2013. During the 3 month standstill period, CBRE Iberian Value Added Fund and Sierra Fund sold the Parque Principado shopping centre, a prime regional shopping centre located in Asturias, northern Spain, and discharged the loan.

CONTACTS

Financing: Miranda Leung (partner), Andrew Chaplin (associate), Emily Stratten (associate)

Uría Menéndez: Financing: Carlos de Cárdenas Smith (partmer), José María Oliva Dominguez (associate), Ignacio Magariños Repolles (associate)