Luminent Mortgage Capital

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Here Come the Lawyers: Luminent Sues Barclays Over Bond Deals

Nov 16, 2007By

Is it possible lawyers may end up having a say in the value of so-called Level 3 assets? Believe it or not, it’s actually possible. Luminent Mortgage Capital earlier this week sued a unit of Barclays PLC, saying the bank had improperly marked down the value of bonds it held as collateral for financing, leading to a margin call that Luminent characterized as a “money grab.”

3d rendering of a row of luxury townhouses along a street

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