M&C Advises International Bank on a $2.3 Million Secured Loan

January 1, 2005

Vereins-Und Westbank AG, a German-based international bank with more than €20 billion in total assets, and ConRendit 3 GmbH recently closed a secured loan facility in the sum of $23,310,000 for the acquisition of international shipping containers.   The containers will be managed out of San Francisco by Container Applications International, Inc.

Given the heightened interplay of U.S. and international commercial law presented by the facility’s structure, M&C was tapped as U.S. counsel to Vereins-Und Westbank and tasked to ensure the transaction comported, in all respects, with the Uniform Commercial Code.  M&C’s financing team was led by Los Angeles partner, James Williams.

Vereins-Und Westbank was also represented by German counsel, Dr. Klaus Dimigen of the Hamburg-based firm Ehlermann & Jeschonnek.