Tim has experience of both public and private deals, including securitisations, warehouses, forward flows and portfolio sales, and has worked on a mixture of UK, European and international transactions.
Tim advises a range of counterparties, including investors, originators, arrangers and managers, on a broad range of securitisation and structured finance deals, including auto and consumer loans, non-performing loans, residential mortgages WBS/CMBS and fund finance transactions. He has experience of both public and private deals, including securitisations, warehouses, forward flows and portfolio sales/acquisitions, and has worked on transactions in the UK, Europe and internationally.
Tim has worked on a broad range of securitisation and structured finance deals and his experience includes in particular auto and consumer loans and non-performing loan transactions but also fund finance, residential mortgages, CMBS/WBS and infrastructure transactions.
Expertise
Experience
Representative matters
A Greek bank on four separate NPL securitisations, involving the sale of equity to a third party investor, totalling c EUR12.7 billion in gross book value. Each securitisation was structured to have the benefit of the HAPS guarantee, including the first transactions of such kind.
Another Greek bank on four separate NPL securitisations, involving the sale of equity to a third party investor, totalling c EUR14.2 billion in gross book value. Each securitisation was structured to have the benefit of the HAPS guarantee.
A Greek bank on the sale of a portfolio of non-performing residential mortgage loans through a securitisation structure.
A consortium of investors on their purchase of 95% of the mezzanine and junior notes from a securitisation backed by a portfolio of non-performing exposures sold by a Greek bank with a total gross book value of EUR6 billion.
A servicer and investors on sales of portfolios out of HAPS securitisations.
Greek banks or investors on various other sales of non-performing residential mortgages loans, SME and corporate exposures, including using securitisation structures, with or without the HAPS guarantee.
Clavel Residential 3 DAC – for the sole manager and arranger on a c €680 million Spanish re-performing mortgage loan securitisation deal. The deal was a first of its kind on a number of fronts, including being the largest Spanish RPL transaction to date, the largest RPL RMBS in Europe year to date and the first Spanish RPL transaction to be issued under both Reg S and 144A. The deal combined two separately originated portfolios that are held in separate underlying structures in Spain and Ireland.
Bumper UK 2021-1 Finance plc – for the originator on a GBP550m auto lease securitisation.
Bumper UK 2019-1 Finance plc – for the originator on a GBP550m auto lease securitisation.
Azure Finance No. 3 plc – for the sole manager and arranger on a GBP263m securitisation of UK hire purchase receivables.
Orbita 2017, 2020 and 2021 – for the lead managers and arrangers on the Close Brothers auto securitisations.
Auto ABS UK Loans 2017 and 2019 – for the originator on a securitisation of a portfolio of UK conditional sale and hire purchase and PCP receivables.
A UK originator of unsecured consumer loans on its first and subsequent UK private securitisation.
The senior lender on the private securitisation backed by a portfolio of UK consumer loans.
The senior lenders on the private securitisation backed by a portfolio of UK auto loans.
Three conduit banks on a securitisation of UK auto hire purchase and conditional sale receivables.
Funds on the acquisition and warehouse funding of portfolios of UK auto hire purchase receivables.
A bank on various forward flow transactions, including in relation to portfolios of Irish and UK auto loan receivables.
The originator and subordinated lender on a forward flow transaction involving UK consumer loans.
The mezzanine lender on a private securitisation of UK auto loan receivables.
Chetwood Funding 2024-1 plc – for the seller in a c GBP1.2 billion securitisation of BTL mortgages. The transaction combined seven acquired portfolios serviced by four different original lenders/servicers.
A bank on its acquisition of a portfolio of French residential mortgages.
A fund on its acquisition of a portfolio of UK residential mortgages.
Student Finance plc – for the arrangers and bookrunners on the issuance by of bonds secured over student accommodation assets in the UK.
Pro bono
Tim regularly supervises a team of volunteer legal advisers at Toynbee Hall, an evening pro bono clinic covering a range of areas including landlord and tenant and consumer rights.
Speaking Engagements
- Panel speaker, Greek and Cypriot Securitisation and NPL Management, Global ABS, Barcelona, June 2023
- Panel speaker, Outlook on Greek NPLs, DDC Investors’ Summit, Athens, November 2023
- Panel speaker, The Secondary Market, IMN Distressed Investing Forum, London, March 2024
Recognition
““Highly recommended” and a key lawyer for A&O
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Legal 500, 2023
Qualifications
Admissions
Admitted as solicitor, Victoria, Australia, 2013
Academic
JD, University of Melbourne, 2012
BCom (Hons), University of Melbourne, 2009
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.