Former Berlusconi assistant derails Deutsche CMBS

Italo Calvino
By Tom Brown
21 Feb 2019

The repayment of the first European multi-loan CMBS since the crisis is mired in a legal tug-of-war between Blackstone, the deal’s sponsor, and Italian media group RCS, which is chaired by Urbano Cairo, a former assistant to Silvio Berlusconi.

Noteholders in Deco 2014 Gondola — an Italian CMBS issued by Deutsche Bank — are being asked to vote on whether to agree to a loan extension to the Delphine loan, the only asset still backing the notes.

The vote is needed due to a claim by ...

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