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Securitization People and Markets

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  • Maxim Group is renovating its structured credit group to take advantage of distressed debt opportunities.
  • Citigroup has bought the wholesale mortgage-origination and servicing platform of ACC Capital Holdings.
  • RBS Greenwich Capital Markets parted company with collateralized debt obligation group co-head Rick Caplan and head CDO trader Jason Golush, along with about half of its 20-member CDO group.
  • Judge Burton Lifland has denied Bear Stearns’ failed hedge funds recognition of a foreign proceeding.
  • Basis Yield Alpha Fund has filed a petition for a temporary restraining order to temporarily stop seizure of its assets by U.S creditors while it liquidates in the Cayman Islands, where it is incorporated.
  • Three mortgage-backed securities bankers have left Lehman Brothers.
  • RBS Greenwich Capital Markets has given about half of the members of its 20-strong collateralized debt obligation group pink slips, including group co-head Rick Caplan and head CDO trader Jason Golush.
  • Scottsdale, Ariz.,-based mortgage originator Spectrum Financial Group, the largest private mortgage company in Arizona, filed for bankruptcy today .
  • Start-up CapitalFusion Alternative Investments is bringing to market a $200-250 million opportunistic fund that will invest in asset-backed securities and collateralized debt obligation assets, commercial real estate, whole loans and initial public offerings.