Slaughter and May advised UK Asset Resolution Limited (UKAR) on the sale of NRAM plc to Cerberus in connection with the sale of a portfolio of residential mortgages and unsecured loans from the legacy book of NRAM, part of the former Northern Rock mortgage business, which completed in December 2015. In addition to the share sale, the advice also concerned arrangements relating to the prior transfer of assets and liabilities not included in the sale to Cerberus to a newly established subsidiary of UKAR - NRAM (No. 1) Limited.
Contacts

Financing: Guy O'Keefe (partner), Ivo Stourton (associate), Charlie McGarel-Groves (associate), Steve Dempsey (associate), Anthony Phillips (associate); Corporate: Craig Cleaver (partner), Mark Bennett (partner), Kurt Ma (associate), Heather Fleming (associate), Andrew Smith (associate), Giles Rabbitts (associate), Christopher Tolley (associate), Tax: Gareth Miles (partner), Ed Milliner (associate); Dispute Resolution: Nicholas Chandler (associate); Competition and State Aid: Isabel Taylor (partner), Elena Prattent (associate); Financial Regulation: Ben Kingsley (partner), Helen McGrath (associate); Pensions: Sandeep Maudgil (partner), Katherine Flower (associate), Phil Linnard (associate); Real Estate: Tim Meade (associate); Intellectual Property and Technology: Rob Sumroy (partner), Hardip Shokar (associate), Laura Houston (associate)