An investment vehicle linked to Rizwan Hussain, the controversial former banker who has tried to seize control of several pre-crisis securitizations, has claimed there is a ‘manifest error’ in an old Bank of America Merrill Lynch securitization — which, if corrected, would ensure £25m flows out of the deal.
If the money does indeed flow to Hussain, it will be extremely helpful for him — he was declared insolvent earlier this year
, following an award of costs against him by the UK High Court, in connection with his attempt to seize control of Fairhold Securitisation, a
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