To view this content, you need to sign in.
You should only be asked to sign in once. Not the case? Click here
Register now to access this content and more for free.
Proceeds from the sale of assets in the heavily defaulted £850m Gemini CMBS should be classified as principal and not interest, the High Court in London has ruled. The decision means that under the deal’s contract only the Class A noteholders should receive payments from any asset sales. Had the court ruled sale proceeds as interest, then the junior noteholders, classes B to E, would also be eligible for payments.
You should only be asked to sign in once. Not the case? Click here
Register now to access this content and more for free.
Copyright PEI Media
Not for publication, email or dissemination