Punch drunk: Battered ABS bondholders face knockout blow

By:
Louise Bowman
Published on:

From Punch Taverns to a string of commercial real estate-backed deals, borrowers and bondholders in distressed European securitizations are squaring up for a bitter fight. The chaotic process by which these structures threaten to unravel will be a lasting legacy of the ABS binge. Louise Bowman reports.