Judge Voids Debt Grab In Expedited Mortgage Securities Fight

Law360, London (July 31, 2019, 10:45 PM BST) -- A company that acted as an issuer in a securities deal worth $760 million prevailed on Wednesday in its court fight to invalidate several directions Greencoat Investment Ltd. made to the trustee of the debt, as a London judge declared the steps had no effect.

Judge Antony Zacaroli has ruled that the steps GIL took to intervene in the debt are invalid because it was not a holder of six classes of notes issued by Business Mortgage Finance 6 PLC in 2007. He also granted an injunction preventing GIL from holding itself out or taking any action as a beneficial owner...

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