NEW YORK, Dec. 10 2004 – LAWFUEL – First for law news – Weil, Gotshal & Manges LLP, one of the world’s leading law firms, advised Baltic-American Mortgage Holdings LLC in
the securitization of $63.6 million in residential mortgages it originated in
the Republic of Latvia. A wholly owned subsidiary of the Baltic-American
Enterprise Fund (BalAEF), a private U.S. corporation initially capitalized
with $50 million of public sector funds through U.S. Agency of International
Development, Baltic-American Mortgage Holdings provides competitive
residential mortgage loans throughout Estonia, Latvia and Lithuania. The deal
closed on December 9, 2004.
Wachovia Bank was the underwriter for the securitization, which Moody’s
Investor Services rated as AA. This deal marks Latvia’s first residential
mortgage securitization, as well as the first in the former Soviet Union.
Weil, Gotshal & Manges LLP is an international law firm of more than 1,100
attorneys, including approximately 300 partners. Weil Gotshal is
headquartered in New York, with offices in Austin, Boston, Brussels, Budapest,
Dallas, Frankfurt, Houston, London, Miami, Munich, Paris, Prague, Shanghai,
Silicon Valley, Singapore, Warsaw, Wilmington and Washington, D.C.
Weil, Gotshal & Manges LLP’s Team
Partners: Robert C. Odle Jr. (Corporate – Washington, DC); Daniel J.
Mette (Corporate – New York); Larry J. Gelbfish (Tax – New York)
Associates: Katayoun Soudmand (New York); Catalin Cosovanu (New York);
Todd Betke (New York); Gregg Buksbaum (New York); Kai-Niklas Schneider