Monday, April 18, 2011
Morgan Stanley Defaulted on a Loan and Walked away from Offices in Tokyo!! Gave the keys back! Biggest Default in Japan's History 3.3 Billion!
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 (BX.N) and other in
The $4.2 billion MSREF V real estate fund missed its April 15 deadline to repay 278 billion yen($3.3 billion) vestors, the largest repayment failure of its kind in Japan.
The refinanced debt was sold in six different tranches by Morgan Stanley to investors.
Now comes the question on WHY Morgan Stanley did this?'
Posted by DotConnector at 09:41