Only Noteholders Can Sue Over $24M CDO Sale: REIT Atty

Law360, New York (December 20, 2011, 7:40 PM EST) -- Only a CDO's noteholders can sue the Bank of New York Mellon and a real estate investment trust over the allegedly improper sale of some of the CDO's assets, an attorney for the REIT told a New York state judge Tuesday.

According to the plaintiff, asset management firm Hildene Capital Management LLC and its affiliates, the trustee of the CDO known as Preferred Term Securities XX Ltd., also known as PreTSL XX, improperly helped facilitate the sale of $24 million of the CDO's collateral to the...
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