Addressing Special Securitization Issues

Although Gordian Group's restructuring engagements are primarily company-side assignments, Gordian Group has also developed substantial experience representing clients that have securitized financings in the context of restructurings. Securitizations present distinct issues and challenges, as compared to other secured lending situations.

In LTV Steel, the landscape for the holders of securitized financings changed dramatically and the notion of special purpose/bankruptcy remote vehicles for the purpose of holding securitized assets was called into question. Gordian Group represented Abbey National Bank, the primary holder of securitized assets, in the LTV bankruptcy. Subsequently, Gordian Group has represented other holders of securitized assets in both in- and out-of-court restructurings. Gordian Group is uniquely positioned to handle the complexities presented by securitizations in the context of restructurings and reorganizations.