Irish government could claim Barclays synthetic CMBS

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By Tom Brown
24 Jun 2019

The issuer of the long-troubled synthetic CMBS Juno (Eclipse 2007–2) missed a deadline for submitting its 2017 financial statements and its annual return last Friday. This means it risks being struck off the register of Ireland’s companies and having its remaining assets transferred to the government.

Most of the notes in the CMBS have now either defaulted or paid down, but whatever remains of its assets could be claimed by the Irish government, as the deal failed to produce sufficient funds to pay auditors responsible for submitting the required documents.

The ...

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