Steps taken to gain control of securitisation structure ruled void (Business Mortgage Finance 6 plc v Greencoat Investments Ltd and others)

Table of contents

• What are the practical implications of the judgment?
• What was the background?
• What did the court decide?

Article summary

Banking & Finance analysis: Alex Cunliffe, barrister at Lamb Chambers, examines the High Court’s decision in Business Mortgage Finance 6 v Greencoat Investments that all of the steps taken by the defendants to gain control of a true-sale securitisation structure under which the claimant had issued £161,250,000 of sterling-denominated notes and €495.4m of euro-denominated notes were void and of no effect.