Brookfield has said it was snubbed during a $33.2bn mortgage loan auction, accusing a US regulator of picking winners.
The Canadian investment group, which has $850bn of assets under management, has complained to the Federal Deposit Insurance Corporation over the way it handled the Signature Bank auction, after the lender collapsed in March.
Brookfield Property Group said the FDIC was running a “secret” process to sell Signature Bank loans. It accused the regulator, which has a mandate to minimise losses to its insurance fund, of picking some winning bidders for assets at prices substantially below the highest offer.
It has threatened to file a formal protest of the auction, which is expected to be completed this month.
