Judge swats down Clifden’s ‘unprincipled asset grab’

Clifden IOM engaged in an “unprincipled asset grab” when it hurriedly arranged the appointment of a deal administrator for the Fairhold transaction, a High Court judge said on Friday. The real estate investment firm was defending an injunction sought by Fairhold, a pre-crisis distressed CMBS, and note trustee Global Loan Agency Services Ltd (GLAS) to prevent Clifden’s appointment of administrators.