CMBS face bankruptcy test

By editor | Published: October 24, 2009

MBSInvestors in commercial mortgage-backed securities are closely watching two major bankruptcy court cases which will shape the future of the asset class, the head of restructuring for Perella Weinberg Partners said on Wednesday.

The outcome of the bankruptcies of hotel chain Extended Stay and mall operator General Growth Partners will address many of the uncertainties surrounding CMBS, Michael Kramer told the Reuters Restructuring Summit in New York.

“They’re going to be very closely watched,” Kramer said of the cases. “How to restructure a CMBS portfolio is really what the General Growth situation is about.” Click here for full Reuter’s Article on CMBS…

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