Clifden rebuffed in attempt to appoint Fairhold administrator

Clifden IOM, the fund which failed in its tender offer for UK non-conforming RMBS bonds from the RMAC series earlier this year, is still on the hunt for assets from the issuer of Fairhold Securitisation, a pre-crisis distressed CMBS backed by UK ground rents.

  • By Asad Ali
  • 18 Jul 2018

In a move to forge ahead with its secretive plans to salvage any remaining value from the issuer’s assets, the saga took on a new twist last week with Clifden attempting to appoint administrators to the issuer, in its purported capacity as “Noteholder and agent of” the trustee.

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3 BNP Paribas 1,434 4 11.87
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5 Morgan Stanley 1,094 2 9.06

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5 Barclays 13,499.53 45 7.13%