“A term was not to be implied into a mezzanine lending agreement that a bank, which had acted as agent for two special purpose vehicles (‘SPVs’) when they participated as junior lenders in such structured lending to a property company which subsequently collapsed, was obliged to disclose to the SPVs material financial information in its possession as to the declining health of the company.”
WLR Daily, 3rd September 2013
Source: www.iclr.co.uk
