The Legal 500

Twitter Logo Youtube Circle Icon LinkedIn Icon

Gide Loyrette Nouel LLP

Work 020 7382 5500
Fax 020 7382 5501

Karine Imbrosciano

Work +44 (0)20 7382 5543
Gide Loyrette Nouel A.A.R.P.I.

Work Department

Banking & Finance


Karine Imbrosciano co-heads the Derivatives & Structured Products group in London. Specialised in OTC derivatives products, she has in-depth knowledge of French and English law legal structuring and advisory support on a broad range of derivatives and structured products across various asset classes (Fixed Income, Credit, Funds, Equity). Karine has strong expertise in credit derivatives (CDO, CPPI, CPDO, CFXO) and in hedging of structured finance transactions (covered bonds, securitisation, project finance), with a focus on the negotiation of swaps complying with rating agency criteria. She also has significant experience in setting up and restructuring French structured funds. Karine also regularly advises clients on regulatory derivatives matters. Having graduated from HEC Business school, Karine joined Gide in Paris in 2005 and the London office two years later. Leveraging her dual qualification and experience as a French Avocat à la Cour and English solicitor, Karine shares her time between London and Paris, working closely with Gide's finance teams in both offices. She has benefited from a secondment to the corporate solutions group of a French bank in Paris and from a one year secondment to a leading US investment bank in London in its structured products and derivatives teams.


French, English.


Derivatives, structured finance and securitisation

Within: Derivatives, structured finance and securitisation

Gide Loyrette Nouel A.A.R.P.I. combines ‚Äėa high level of business acumen‚Äô with ‚Äėquick response times‚Äô, ‚Äėdirect access to partners‚Äô and ‚Äėstable teams‚Äô. The team‚Äôs strengths lie in derivatives and structured products, flanked by regulatory expertise, but the group also advises on securitisations and has expertise across all asset classes, as well as in repurchasing transactions and securities lending mandates. Paris-based Arnaud Duhamel and counsel Laurent Vincent, and London-based Karine Imbrosciano, who is ‚Äėvery client-focused‚Äô, jointly head the practice. Duhamel‚Äôs skillset in structured products and strategic equity derivatives is noted, along with his strong regional focus on sub-Saharan Africa and other emerging markets. Xavier Chassin de Kergommeaux who has developed a particularly strong practice in advising building societies, is a key name for securities. In a French market first, Kergommeaux led advice to Caisse Centrale des Cr√©dits Immobiliers de France -3CIF and BNP Paribas, as arranger, on the winding-up and liquidation of French securitisation fund CIF Assets in order to allow the bondholders to comply with legislation coming into effect in January 2018, and also handled the setting-up of a new refinancing structure for Cr√©dit Immobilier de France containing secured intragroup loans. Soci√©t√© G√©n√©rale, Deutsche Bank and Europcar are also clients.

[back to top]

London: Finance

Derivatives and structured products

Within: Derivatives and structured products

Gide Loyrette Nouel LLP's¬†derivatives and structured products practice¬†sits in both the London and Paris offices, with partners in each collaborating closely on plan vanilla derivatives transactions,¬†repos, securities lending, structured credit derivatives, structured notes and ABS transactions. Its work encompasses hedging advice for securitisations, covered bonds, corporate and asset financing, real estate financing and project finance. It also handles regulatory, netting and collateralisation matters for¬†investment banks, corporates, local authorities and national and international industry bodies. OTC derivatives and structured products specialist¬†Karine Imbrosciano¬†leads the practice and is dual-qualified in both English and French law. In 2017, she advised¬†Soci√©t√© G√©n√©rale and Natixis on the¬†hedging of the interest rate risk in relation to the refinancing of a ‚ā¨350m portfolio of four hotels managed by Hyatt and owned by the Constellation group. She also acted for¬†A√©roports de Paris Management, Bouygues B√Ętiment International, Colas and Meridiam Africa on interest rate hedging¬†in relation to the financing of the Ivato and Nosy Be airports concession in Madagascar.

[back to top]


Within: Securitisation

The structured finance practice at¬†Gide Loyrette Nouel LLP¬†frequently advises on¬†the hedging aspects of structured finance transactions including securitisations and covered bonds.¬†Karine Imbrosciano¬†leads the derivatives and structured products group in London and has significant experience in this area.¬†Dimitrios Logizidis¬†specialises in banking and structured finance and advises financial institutions, private equity funds and corporates on a wide range of asset-backed financing and securitisation and covered bond transactions. He frequently acts for arrangers, private equity funds and originators in whole-business and trade receivable securitisation transactions, as well as multi-jurisdictional ABCP conduit deals. His track record includes the¬†Hertz and Fraikin whole-business securitisations. He also advised BNP Paribas on a ‚ā¨675m international trade receivables ABCP securitisation programme arranged in twelve different jurisdictions worldwide, including Poland, the Czech Republic, Iceland, the US and Canada.

[back to top]

London: Foreign firms

European firms in London: France

Within: Leading individuals

Karine Imbrosciano - Gide Loyrette Nouel LLP

Within: European firms in London: France

Gide Loyrette Nouel LLP's London office was opened in 2003  and specialises in banking and finance, dispute resolution, tax, projects and energy, and real estate. Recent experience includes advising THY on the financing for the purchase of 40 Airbus and 3 Boeing aircraft; and acting for a claimant bank against a Russian company and its subsidiaries following defaults under finance documents, attempts to divest assets and abuse of insolvency proceedings in Russia. Key figures include derivatives and structured products specialist Karine Imbrosciano; Margaret Boswell, who has substantial experience in general banking law and capital markets, as well as structured finance, particularly securitisation; banking and structured finance expert Dimitrios Logizidis; and David Klass, who advises on corporate tax issues and transactions, particularly those with an international element. Rupert Reece specialises in international arbitration and dispute resolution proceedings relating to joint ventures, construction contracts, aerospace and international commerce. Hugues Moreau, who splits his time between the Paris and London offices. Max Baird-Smith, previously at BDGS Associés, rejoined the firm.

[back to top]

Back to index

Legal Developments in London

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • The legal difference between a consultant and an employee according to Nicaraguan Law

    Knowing the legal difference between a consultant and an employee is important for a company that needs to hire someone in Nicaragua or for a person interested in rendering services for a company or another person, due to the fact that the nature of the contractual relationship will determine many factors that both parties must be aware of before executing the contracting modality that will govern the relationship between them - the nature of the contractual relationship impacts on the employment benefits, tax implications and liabilities that the parties must comply with according to the law.  labor_law_in_nicaragua
  • Single director - shareholder Companies according to the Nicaraguan legal system

    What is a Single Shareholder and Director legal entity?
  • Business in Nicaragua- The Most Important Changes in the Recent Tax Reform

    In recent years, the country ŐĀs the government has been committed to improving Taxation in Nicaragua and attempting to follow the legislative model used by some of the other countries in the region. Starting January 1st, 2013, a new tax law (Law No. 822, Tax Concertation Law) came into force in and completely changed the taxation system in Nicaragua. Two years later a new law was issued by the National Assembly containing more than 80 amendments, additions and repeals (Law No 891) which came into force December 18th, 2014.