Paratus threatens legal action to thwart RMAC tender offer

Owen Sanderson

February 21, 2018 05:00 PM

PA-UK houses — General view of houses in Victoria Road, London, named 'the most expensive street in the UK' in 2015 with an average house price of over £8 million. The borough of Kensington and Chelsea is one of the most polarised in Great Britain, with some of the most expensive real estate in the UK just a short walk from several of the most deprived wards in the country - including the area around the Grenfell Tower. Picture date: Wednesday July 12th, 2017. Photo credit should read: Matt Crossick/ EMPICS Entertainment. | Matt Crossick/Empics Entertainment

Paratus AMC, the originator of the RMAC series of UK non-conforming RMBS bonds, has hit back at hedge fund Clifden IOM No.1’s attempt to seize control of the deals, hinting ominously at potential legal action. It is the latest chapter in a vicious tussle between the two entities for the right to gain control of the underlying mortgage collateral.

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Owen Sanderson