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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

GIC’s New York investment may face foreclosure

Posted on 14 January 2010

From Asiaone.com: The New York apartment complex that proved an ill-fated investment for the Government of Singapore Investment Corporation (GIC) may face foreclosure after its owners defaulted on a debt payment last Friday.

Some of the debt holders are now demanding payment within 10 days from the owners of Stuyvesant Town and Peter Cooper Village in Manhattan - the first step towards foreclosure, according to a Bloomberg report yesterday…………………………………..Full Article: Source


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