Founded in Paris in 1920, Gide is a leading international law firm with 12 offices spread throughout the world.
Gide is physically present in six regions of the world, with 11 offices, enabling it to act on cases globally.
3 April 2014
Deals | France
Gide advised Windermere XII FCT (a French securitisation vehicle represented by EuroTitrisation's management company), which held a EUR 1.6 billion mortgage claim against Heart of La Défense, in its repayment in March 2014 by Lone Star. Heart of La Défense owns the Coeur Défense building, the second largest business center in Europe covering 180,000sqm and subject to a safeguard plan when acquired indirectly by US fund Lone Star in March 2014.
Gide advised the securitisation vehicle and defended its rights over more than five years, obtaining key judicial decisions before the Commercial Court of Paris, the Court of Appeal of Paris, the French Supreme Court and the Court of Appeal of Versailles, which upheld the rights of the creditors under French law. In particular, key decisions were rendered with respect to the enforceability of a Dailly assignment and legal requirements relating to safeguard plans.
Windermere XII FCT was the largest French CMBS and was structured by Gide in July 2007 on behalf of Goldman Sachs International Bank and former Lehman Brothers, which originated the mortgage loans.
Legal counsel to Windermere XII FCT was provided by Gide partner Gilles Saint Marc.
