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...

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!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!