Manager warns CLO investors they may not be able to sack it

By Mike Peterson

Wednesday, September 22, 2010

A CLO manager has sent a notice to investors in several of its deals acknowledging that its filing for bankruptcy gives them cause to sack it as manager

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Comment by: Jack Chen. Posted 13 years ago [2010-09-22 15:08:38]

These types of clauses are generally unenforceable but lawyers like to put them into contracts anyway. Relates to executory contracts under the bankruptcy code.

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