Herbies helps Resolution snap up debt and restart hotel plans
Herbert Smith has helped fund manager Resolution Property restart the development of a 220,000sq ft central London site after it acquired the loan secured against it at a knockdown price. Resolution has purchased a e36.1m (£31.7m) debt facility secured against three buildings in the City for e6m. The original loan was provided by Lehman Brothers as part of a e3bn collateralised debt obligation […]