The nature of mankind is that people are always striving to push back the boundaries of achievement, whether by going to the moon or sailing non-stop around the world single-handed. This is also true of law firms doing securitisations. The latest to notch up a 'first' is Clifford Chance, which proudly tells us that it acted on the 'first SEC-registered shelf and MTN ABS platform for RBS'. Wow. But it does not trump Obiter's favourite: US firm Paul Hastings Janowsky & Walker's announcement that it advised on Japan's 'first asset-backed securitisation involving special event facilities (wedding halls and funeral parlours)'.
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