Questions are raised over the LK Shields debt practice as the firm has not made any attempt to replace former partner Joe Gavin who left the firm in December 2009. "I rarely come across LK Shields....
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Questions are raised over the LK Shields debt practice as the firm has not made any attempt to replace former partner Joe Gavin who left the firm in December 2009. "I rarely come across LK Shields. They lost Joe Gavin, I'm not sure who does this work anymore," says one rival. Peers support the firm's ranking in equity but are quick to clarify that there is a big gulf in size and expertise between the two tiers.
The firm has been active on some debt programmes and securitisation work in the last 12 months. In an ongoing deal, practice head David Williams led a team acting for Prodigy Finance on the establishment and amendment to a €1 billion secured limited recourse note programme. Each series of notes will provide a fixed return to investors and will be backed by a pool of loans to students attaching MBA and EMBA university courses.
In another notable deal, William's team were acting for Banquo Credit Management in relation to a structured investment vehicle, Diversification Notes, with €1 billion in assets. The firm advised the company's directors in relation to repo counterparty exposures, the maintenance of solvency and, ultimately, its winding down in February 2011.
The firm also continues to advise the Capita Trust Company in its role as Trustee of a multi-issuer secured note programme arranged by AE Global Investment Solutions.
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The banking partnership at LK Shields has expanded in the past 12 months with the addition of recently promoted Neil O'Keeffe.Nama has provided some of the firm largest deals in the last 12 months....
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The banking partnership at LK Shields has expanded in the past 12 months with the addition of recently promoted Neil O'Keeffe.
Nama has provided some of the firm largest deals in the last 12 months. Back in May 2010, practice head Richard Curran and O'Keeffe acted for Bank of Ireland in the review, remediation and transfer of assets to the state agency.
More recently, in April 2011, the pair acted for Nama conducting due diligence on €3 billion worth of bank assets it was targeting for acquisition.
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LK Shields' restructuring and insolvency department is headed by Ed Butler. All the firm's notable recent work has had a property slant and is often handled by insolvency partner Jill Callanan in partnership with commercial property department partner Paul McCutcheon....
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LK Shields' restructuring and insolvency department is headed by Ed Butler. All the firm's notable recent work has had a property slant and is often handled by insolvency partner Jill Callanan in partnership with commercial property department partner Paul McCutcheon.
The pair advised Four Star Pizza and a number of related companies after it was placed into receivership in November 2010. The firm advised on successful High Court applications concerning the repudiation of leases and non contentious property matters and intellectual property matters until the deal closed in February 2011.
Acting on the behalf of a liquidator, the firm was advising Mr Simon Coyle of Mazars who is overseeing the sale of the assets of Tikonito Limited, a company which owns the La Touche Hotel in Greystones, County Dublin.
Elsewhere, the duo is acting for the Joint Receivers, Michael Cotter and David Hughes at Ernst & Young, of properties owned by the Seafield Partnership in Cork.
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