French ABS future hangs on Coeur conclusion
French structured finance lawyers and bankers will get a final decision on the fate of the Coeur Défense office block in Paris on Thursday afternoon — a decision which could undermine the whole basis of secured lending in France.
The Versailles Court of Appeal is due to hand down a judgement on whether the holding companies in possession of Coeur Défense are entitled to be in sauvegarde a debtor protection in France similar to Chapter 11 protection in the US.
If the holding companies are removed from
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