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CRE Finance World, Autumn 2012

Navigating the Structured Finance Waterfall: Smooth Sailing or a Barrel Ride over the Falls? asset or simply an invitation to litigation? And what steps should Michael VanderLey, Cynthia Nelson, and Ronald Greenspan are members a prudent holder of a FMV Option undertake to minimize the risk of the Real Estate Solutions group at FTI Consulting, Inc. Contact them of suit and an adverse ruling? at mike.vanderley@fticonsulting.com, (415) 283-4270; cynthia.nelson@ fticonsulting.com, (213) 452-6026; or, ron.greenspan@fticonsulting.com, Conclusion (213) 452-6006. Clearly, the plumbing of the typical structured finance waterfall Views expressed herein are those of the author and do not necessarily contains numerous twists, turns and potential traps for the unwary. reflect the views of FTI Consulting, Inc. and its other professionals. Given recent federal and state court litigation (including bankruptcy 1 While FTI has played a significant role in several of the referenced cases, court litigation — perhaps the biggest boulder beneath the waterfall), everything discussed is from the public record. Out-of-court or pending existing and prospective stakeholders in structured finance credits matters discussed have been generalized to maintain confidentiality. would be well served by taking a very hard look at the pipes before they turn on the faucet. 14 & 15 November Hosted by Allen & Overy, London Registration is open until 26 October contact: hliebing@eu.crefc.org www.crefc.org/eu A publication of Autumn issue 2012 sponsored by CRE Finance World Autumn 2012 39


CRE Finance World, Autumn 2012
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