MBS Vehicle Loses Bid Against Directors Over Asset Sale

By Lucia Osborne-Crowley (November 19, 2021, 4:46 PM GMT) -- A High Court judge rejected a bid on Friday from a mortgage portfolio company to stop its directors from blocking a sale of its assets, saying the deal may not even exist, and the injunction was merely a disguised attempt to stymie other lawsuits.

High Court Judge Robert Miles dismissed an application from Business Mortgage Finance 4 PLC, a special purchase vehicle that issued multicurrency floating rate notes linked to mortgages in Britain between 2005 and 2007, for an injunction against its directors and their lawyers from Simmons & Simmons LLP.

The injunction sought to prevent the directors from stopping a...

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