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Patriarch files its own CLO into bankruptcy

Monday, November 23, 2015

Patriarch Partners has taken the unprecedented step of filing its own CLO into bankruptcy, after Zohar I hit its legal maturity on Friday

Comment by: Anonymous. Posted 8 years ago [2015-11-24 01:40:40]

Yes, unusual! From this story, it appears Patriarch acted as the A3 investor in bringing the "involuntary" filing. But wouldn't the CLO waterfall have had to operate on this maturity date by first auctioning (or attempting to auction) the loan assets? Just wondering, I don't know the documents for Zohar.

CLOs

Middle market portfolios aren't immune to rate stress, according to new research 1 day ago
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Another 2016 vintage CLO gets reset as Octagon stays busy 1 day ago
Neuberger Berman resets 2016 vintage for second time 1 day ago
Beach Point brings in tight price for third US CLO 1 day ago

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