Mount Street and Paul Hastings have joined forces to create a streamlined, process driven service offering to replace LIBOR in existing CRE loan documentation.

As a servicer on a number of CMBS and a facility agent on multi-lender CRE loans, Mount Street has joined together with Paul Hastings’ real estate finance practice to ensure that the process for replacing LIBOR can be kept as efficient and cost-effective as possible.

The combined team will offer lenders a legal and operational framework for advising on the challenges and impact of LIBOR replacement, as well as making the necessary changes to the documentation once the change has been agreed with borrowers.

The team will be led by Serenity Morley, Mount Street’s European head of primary servicing, and Miles Flynn, a partner at Paul Hastings.

Mount Street is a debt management company that provides services for credit, structured and asset backed finance markets.

Paul Hastings is a global law firm.