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Coeur Défense court decision cuts out creditor security after three year fight

20 Jan 2012

The Versailles Court of Appeal ruled on Thursday that the owner of the Coeur Défense tower in Paris would be protected from its creditors — bondholders in the Windermere XII FCT CMBS. The ruling closes a three year legal battle between the borrower and bondholders, and undermines the whole basis of secured lending against French assets.

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20 Jan 2012