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CMBS Certificateholders Denied Standing in Innkeepers Bankruptcy Implications for Structured Finance Participants?
13 April 2011
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is the first bankruptcy decision to address the standing of CMBS holders directly.
The denial of CMBS certificateholders standing in
will dramatically limit the ability of CMBS holders to influence the course of borrowers’ bankruptcy proceedings.
Participants in non-CMBS securitizations that involve an intermediate trustee, or special purpose entity analogous to a CMBS trust, may also be affected by the holding in
Steven R. Gross
Richard F. Hahn
George E.B. Maguire
UK Modern Slavery Act Transparency Statement
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