TLT acted for UKAR on the transfer of title on approximately 90,000 mortgages securities UK wide. The transfer of title was part of a wider transaction which was the biggest of its kind for UKAR and included the sale of £13 billion of assets to Cerberus, with £3.3 billion of these assets being subsequently sold on to TSB.
The transfer of title was one aspect of a wider appointment. TLT's cross-jurisdictional team also advised on the impact of the transfer on existing litigation and asset sales; project managing UKAR's panel firms across the UK through the transfer process.
TLT's team was led by partner, Tom McEntegart and included banking & financial services partners, James Chadwick and Katharine Kimber and real estate partners Brian Armour, Philip Collis and Kathryn Forde.
TLT's Tom McEntegart said: "To extremely short timescales, we worked closely with UKAR's project team to plan and swiftly execute the transfer, minimising the operational impact. We are delighted to have advised on this cross jurisdictional project and look forward to working with our client in the near future."