Junior investor launches legal fight for cash from liquidated CDO
A large investor in trust preferred CDOs has launched a legal bid to recoup some $5 million from a CDO that was recently liquidated
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Interesting dispute - really it's a math problem. The quants who build waterfall models have this same problem as the lawyers drafting the waterfall language. The challenge is that waterfalls are non-linear. There DO EXIST correct ways to build the models and write the language, but you've got to get the non-linear algebra right.
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Comment by: Peter Jasko. Posted 10 years ago [2014-01-09 15:23:27]