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Further Gemini properties added to CBRE/Warwick St 'over-valuation' claim

The special purpose vehicle (SPV) which has launched a High Court claim against CBRE and Warwick Street, a former King Sturge subsidiary, that the property firms “negligently overvalued” 26 properties in the Gemini portfolio has moved to add a further seven properties increasing the aggregate amount of the sum claimed by £70m.
CoStar News
June 10, 2016 | 5:00 P.M.

The SPV which issued the securitised notes financing the portfolio’s acquisition by Propinvest in 2006, Gemini (Eclipse 2006-3) Plc, submitted its claim to the Queens Bench Division’s Commercial Court in July 2013. It is expected that the case will be heard in August or September of this year.

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