• Master Asset Vehicle II: Redemption Unwind Process
  • November 1, 2013
  • Law Firm: Cadwalader Wickersham Taft LLP - New York Office
  • On October 2, 2013, after a multi-year implementation process, amendments to the transaction documents of Master Asset Vehicle II ("MAV II") and related documents (collectively, the "Amendments") were executed. The Amendments establish a mechanism that allows holders of the Notes issued by MAV II to optionally redeem their Notes prior to the stated maturity thereof (each such redemption, a "Redemption Unwind"). Cadwalader, Wickersham & Taft LLP and Davies Ward Phillips & Vineberg LLP acted as United States and Canadian counsel, respectively, to a group of MAV II Noteholders (the "Group") represented by Moelis & Company LLC ("Moelis") in connection with the multi-year process that culminated with the implementation of the Amendments. The purpose of this Clients & Friends Memo (this "Memorandum") is to highlight certain features of the Redemption Unwind process that may be of interest to MAV II Noteholders. Capitalized terms used but not defined herein have the meanings set forth in the applicable MAV II transaction documentation, as amended.