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Bankruptcy remote financings in jeopardy after Michigan appellate court decision

  • Fox Rothschild LLP
  • -
  • USA
  • -
  • April 19 2012

The proliferation of limited recourse financings popularized in the commercial mortgage backed securities (CMBS) loan market through the financial innovation of loan securitization may be in jeopardy following the decision of the Michigan Court of Appeals in Wells Fargo, N.A. vs. Cherryland Mall Limited Partnership