American Capital Can't Back Out Of $52M MBS Deal, Suit Says

Law360, New York (March 10, 2016, 1:33 PM EST) -- Private equity firm American Capital Ltd. reneged on a $52 million deal to sell commercial mortgage-backed securities and other commercial real estate investments to the affiliate of an investment firm, the affiliate told a New York state judge Tuesday.

MPSF LLC, which is related to investment firm Mission Peak Capital, said in the complaint that it entered into an agreement with American Capital to purchase the commercial real estate assets and was ready to close the deal, when the private equity firm backed out and expressed its desire to sell the assets to another company.

The two companies had already agreed...

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