Taurus CMBS (Pan-Europe) 2007-1 unable to make Nov. 4 notes payments

By Caroline Salls

Pittsburgh, Nov. 5 – Taurus CMBS (Pan-Europe) 2007-1 Ltd. was unable to make the interest payments due Nov. 4 on its class A2, X1, X2, B, C, D, E and F notes, according to a release.

The company will be in default on the notes if payment is not made by Nov. 11.

Taurus said it did pay €37,488 in interest on its class A1 notes.

According to the release, there is a shortfall of funds available to the company this quarter because of repayment of liquidity facility draws related to payments on a Fishman JEC loan.

A safeguard plan was adopted for the Fishman JEC Borrowers on Sept. 25.

Taurus is a Dublin-based general and industrial credit provider.

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