Morrison & Foerster represented CSFB in its winning bid for and acquisition of a portfolio of distressed loans with a face value of RMB 2.4 billion (US$290 million) from China Orient Asset Management Corp., one of China's four state-owned asset management companies (AMCs) which have been charged with disposing of China's mountain of distressed debt. The acquisition marks CSFB's first investment in the Chinese distressed debt market.