Six classes of Bear Stearns Commercial Mortgage Securities Inc. series 2001-Top 2 Trust Fund have been placed on Rating Watch Negative by Fitch Ratings.The affected securities are classes G, H, J, K, L, and M. The actions were attributed to litigation between GMAC Commercial Mortgage Corp. and the borrower of a loan in the trust. "The dispute arose when the borrower, after leasing a portion of the space, requested the return of a lease termination fee," Fitch explained. "GMACCM, the special servicer, refused the release. The litigation went to jury trial and a verdict was rendered in favor of the borrower." The verdict awarded the borrower $7.8 million for breach of contract and $33 million in punitive damages, Fitch reported. The court recently issued a judgment affirming its ruling, but GMACCM is appealing the judgment, Fitch said. The rating agency said it is uncertain whether the trust would be responsible for paying the punitive damages. Fitch can be found online at http://www.fitchratings.com.

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