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Contract – Construction of contract. The Financial List considered issues concerning the rights attaching to the Class X note in a commercial mortgage-backed securitisation structure called 'Windermere VII', which had been arranged by Lehman Brothers International (Europe) in 2006. It rejected the claimant note holder's contention that the terms of an intercreditor agreement disclosed a mistake, which could be corrected by construction or by implication of words. It held, among other things, that there had not been an underpayment of the Class X interest amount for the January 2015 or October 2015 payment dates for loans made under the CMBS structure and no event of default had occurred as a consequence.
Contract – Construction of contract. The Financial List considered issues concerning the rights attaching to the Class X note in a commercial mortgage-backed securitisation structure called 'Windermere VII', which had been arranged by Lehman Brothers International (Europe) in 2006. It rejected the claimant note holder's contention that the terms of an intercreditor agreement disclosed a mistake, which could be corrected by construction or by implication of words. It held, among other things, that there had not been an underpayment of the Class X interest amount for the January 2015 or October 2015 payment dates for loans made under the CMBS structure and no event of default had occurred as a consequence.
Now is the time to tackle inappropriate behaviour at the Bar as well as extend our reach and collaboration with organisations and individuals at home and abroad
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David Wurtzel analyses the outcome of the 2024 silk competition and how it compares with previous years, revealing some striking trends and home truths for the profession
Save for some high-flyers and those who can become commercial arbitrators, it is generally a question of all or nothing but that does not mean moving from hero to zero, says Andrew Hillier
