Saturday, 1 August 2015
Last updated 20 hours ago
Mar 8 2010 | 4:12am ET
Barclays Capital is seeking $15 million from D.E. Shaw Group over a defaulted mortgage loan the New York hedge fund giant guaranteed.
Barclays Capital Real Estate asked a judge for summary judgment against D.E. Shaw, Reuters reports. The bank said Westland Development defaulted on a $212.3 million loan it made in 2006, guaranteed by two D.E. Shaw entities. But even though Westland allegedly failed to pay $182.7 million owed at maturity in July, D.E. Shaw’s payment guarantee was capped at just $15 million.
The two D.E. Shaw entities listed as guarantors of the fund are the firm’s Composite Fund and D.E. Shaw Real Estate Holdings.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…