Law360, London (June 7, 2021, 5:01 PM BST) -- A special purpose vehicle has sued Barclays for £293 million ($415 million) after the banking giant allegedly failed to follow its instructions to replenish an account holding mortgage-backed securities issued in the run-up to the financial crisis.
Business Mortgage Finance, a special purchase vehicle that issued multi-currency floating rate notes linked to mortgages in Britain between 2005 and 2007, told the High Court in a claim that banking giant Barclays owes it £293 million.
The SPV alleged in its claim on May 31, which has now been made public, that Barclays breached a contract linked to £350 million of floating rate notes...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!