DEADBEAT | Morgan Stanley Fund Fails to Repay $3.3 bn Debt on Tokyo Property, Walks Away

Why would they do such a thing?

The $4.2 billion MSREF V real estate fund missed its April 15 deadline to repay 278 billion yen($3.3 billion) worth of debt packaged in commercial mortgage-backed securities on the 32-story Shinagawa Grand Central Tower, a property which has seen its value plunge, two people involved in the transaction said.

But what about the morals, the ethics? How dare they!

~

Morgan Stanley fund fails to repay $3.3 bn debt on Tokyo property

TOKYO: 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 and other investors, the largest repayment failure of its kind in Japan.

It marks the latest fallout from a series of highly leveraged investments by Morgan Stanley , one of the most aggressive investors in worldwide property markets before the global financial crisis.

The $4.2 billion MSREF V real estate fund missed its April 15 deadline to repay 278 billion yen($3.3 billion) worth of debt packaged in commercial mortgage-backed securities on the 32-storey Shinagawa Grand Central Tower, a property which has seen its value plunge, two people involved in the transaction said.

They spoke on condition of anonymity due to the sensitive nature of the matter.

You can check out the rest here…

And why are YOU still paying your underwater mortgage?

~

4closureFraud.org

Comments
10 Responses to “DEADBEAT | Morgan Stanley Fund Fails to Repay $3.3 bn Debt on Tokyo Property, Walks Away”
  1. incognito123 says:

    Don’t forget the Mortgage Banks Assoc walking away from their headquarter, somehow they & Morgan Stanley are NOT deadbeats, but homeowners that walk away are. What is WRONG with this picture?? Katheryn, I am ALL for the T-Shirts as well!!!

  2. Fury says:

    japan has been hit by a horrible natural disaster.
    how fitting that the scummy morgan stanley has walked away from people who are fighting to survive.

    i wish all money markets were abolished. my late father thought wall street was nothing more than gambling. it is.
    many times it is gambling against your own country succeeding.

    stop the madness. the graft.

  3. Pamela says:

    Sooo let me get this straight so I can wrap my head around it:if your a big company you can just walk away from your bills and nothing more is said or done.But if your a homeowner and you are underwater and can’t make your payments then you are a deadbeat?Katheryn if you get T-shirts made I would so buy one and proudly wear it.Talk about stimulating the economy theres a good idea.

  4. Sheldon says:

    There will always be two sets of rules. One for the to big to fail companies and one for the commoners. The bottom-line is the polititions are to afraid to do anything.

  5. Katheryn says:

    Gave me an idea. We should all get T-shirts printed that say “DEADBEAT CLUB” and wear them everywhere. That would really get people talking and thinking! Then we’ll have special ones made up just for Morgan Stanley employees and CEOs that say “DEADBEAT CLUB ORIGINATORS”

Leave a Reply