Ruling clarifies CMBS servicer replacement rules.

• Autores: Gemma Varriale
• Localización: International financial law review, ISSN-e 0262-6969, Vol. 33, Nº. 5 (Jun2014), 2014
• Idioma: inglés
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• Resumen

  • The article reports on the ruling of the English High Court that provided guidance on the circumstances in which a servicer can be replaced in European securitization deals. The opinion of the court on the claim by class E note-holder Anchorage Capital that it was the controlling party over the issuer of a Titan Europe 2007-1 commercial mortgage backed securitization (CMBS) is discussed. Also tackled arguments on the interpretation of prospectus and servicing agreement between the parties