TOKYO: A Morgan Stanley property fund failed to make $3.3 billion in debt payments by a deadline on Friday, handing over the keys to a central Tokyo office building to Blackstone and other investors, the largest repayment failure of its kind in Japan. The $4.2 billion MSREF V real estate fund missed its April 15 deadline to repay 278 billion yen($3.3 billion) worth of debt packaged in commercial mortgage-backed securities on the 32-storey Shinagawa Grand Central Tower, a property which has seen its value plunge, two people involved in the transaction said.
Why did they do it ???
They walked because it made sense as a business decision to jingle-mail the building.
Go see a lawyer and an enrolled agent (a form of CPA) and if, in your judgment in consultation with legal and accounting advice, it makes sense to walk and tell the bank to FO, do it.
Don't give me any crap about morals or ethics - the standards you're using are the very standards the bankster jackals are themselves using !!!
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment