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Latest news: High Court rejects four more Class X claims

Following hot on the heels of the High Court rejecting Hayfin’s claims of underpayment of interest on the Class X notes in Hayfin Opal Luxco SARL v Windermere VII CMBS, the court yesterday also rejected claims by Credit Suisse Asset Management on its Class X notes in four Titan CMBS structures. Although the outcome was … Continue Reading

More on Class X claims – Lexis Nexis Q&A; Windermere VII litigation; Titan 2006-3 settlement plan vote on 4 April

LexisNexis Q&A My Q&A with Lucy Karsten of LexisNexis can be viewed here. Looking ahead to the Class X claims.   The Windermere VII Class X claims In addition to the Titan Class X claims I wrote about in my earlier blog, similar issues were before the High Court on the Windermere VII CMBS case last … Continue Reading

Market awaits English court rulings on CMBS claims

April is set to be a busy month in the English courts for the CMBS community, as five cases come to trial in the High Court in London. Four of those cases are the so-called “Class X” claims, which have been consolidated together and are due to be heard between 7 and 15 April. All … Continue Reading

The Canary Wharf “Spens” case: why Welsh caravan parks are a danger to the financial markets

The Oxwich Leisure Park on Wales’s Gower Peninsular might seem a world away from the concerns of Noteholders of a Canary Wharf securitisation following the sale of a £795 million skyscraper. But a decision in the Commercial Court last week (28 January 2016) showed how in the one-size-fits-all world of English contract law they can … Continue Reading