Brookfield Scuttles Atlantis Deal After Court Ruling

Law360, Wilmington (January 17, 2012, 9:45 PM EST) -- Brookfield Asset Management Inc. has terminated a deal to take control of the Atlantis resort in the Bahamas and other properties from Kerzner International Holdings Ltd. after a Delaware judge halted the transaction, according to court documents filed Saturday.

Lenders that helped finance the $2.5 billion mortgage on the resort, led by Trilogy Portfolio Co. LLC, sued Brookfield on Jan. 5 to prevent the asset manager from consummating the deal, which would forgive Brookfield’s $175 million slice of the mortgage in return for equity in the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.