Investors in a mortgage-backed security sold by Lehman Brothers Holdings have lost their application for the notes to be declared in default. A court in London ruled against holders of bonds that were part of the Eurosail-UK 2007-3BL PLC transaction. Lehman, which filed for bankruptcy protection in September 2008, raised £650m ($1bn) from the 2007 deal which packaged UK home loans.
Lehman’s Eurosail mortgage bond judged not in default
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