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IIG Global Trade Finance Fund lawsuit targets CLO trustee and noteholders, alleging they reaped gains from fraud that cost fund USD 190m
7 months ago
IIG Global Trade Finance Fund launched an adversary proceeding in the US, seeking to hold certain noteholders along with the CLO trustee liable for benefiting from a Ponzi-like fraud scheme by IIG -
Court orders Bancorp to repay Waterfall's deposit from cancelled CRE CLO
2 years ago
An affiliate of Waterfall Asset Management has won its dispute with Bancorp Bank over a proposed CRE CLO transaction that was terminated in early 2020 owing to “market disruption” -
TriMark court ruling encourages peace between lenders
2 years ago
Many CLO managers breathed a sigh of relief in August, with one source indicating a recent court case decision sent a “clear signal that the spate of lender-on-lender violence in the leveraged loan market will not remain unchecked” -
Citi plans appeal after losing battle to recoup over $500 million in Revlon loan lawsuit
3 years ago
Citibank has lost a lawsuit to recoup $504.1 million from Revlon lenders, having ‘mistakenly’ wire-transferred over $900 million to them last year -
Law firms join Wells Fargo class action call over CLO and CMBS book
3 years ago
Frank R Cruz and Rosen have this week joined a growing list of law firms trying to rally investors to join a class action lawsuit against Wells Fargo that allege the bank made ‘materially false and misleading’ statements about holdings in its CLO and CMBS book -
Kroll pays $2 million settlement over control failures in rating CLOs and CMBS
3 years ago
The Securities and Exchange Commission has charged Kroll Bond Rating agency more than $2 million for failures related to rating CLO combo notes, as well as in the CMBS sector -
HarbourVest fights back over CLO fund investment after Highland's objection
3 years ago
HarbourVest Partners, the key investor in risk retention vehicle Highland CLO Funding, has shot back at Highland Capital Management in court, arguing it had not insisted on changing the manager on its CLO fund from Acis to Highland, as Highland had claimed -
Guernsey puts Highland wrangles out to pasture
3 years ago
A royal court’s dismissal of proceedings in Guernsey could spell the beginning of the end in Highland Capital Management’s legal action against former employee Josh Terry -
Highland no longer defendant in Citi's Revlon loan lawsuit
3 years ago
Citi has dismissed its suit against Highland Capital Management as it seeks repayment on a Revlon loan, according to court filings. The lawsuit remains open against another 11 defendants -
Details emerge on nature of Revlon payment 'error' and lender attitudes
3 years ago
Fresh details have emerged on the nature of the ‘operational error’ Citi says took place when it transferred $900 million to Revlon loan holders -
Lenders argue for extended timeline in Revlon loan lawsuit
3 years ago
A 30 September preliminary injunction hearing and trial has been outlined under Citi’s schedule. But the defendants have proposed an alternative schedule, under which the lawsuit would culminate in a trial mid-December -
Citi versus Brigade battle puts CLO issue in limbo
3 years ago
A feud between Citi and Brigade Capital Management has intensified, with Citi reportedly stepping down from lead arranger on Brigade's latest CLO over a Revlon loan payment dispute just as the deal was about to hit the market -
Highland case against ex-PM Terry dismissed for lack of jurisdiction
3 years ago
The island of Guernsey is famous for its high tidal range and dairy produce. But it is not the right place for Highland Capital Management to churn legal action over CLOs against former employee Joshua Terry - so says a royal court, dismissing litigation the company filed there in 2018 -
Acis CLO fights back against risk retention financier
3 years ago
A 2014 US CLO which was part of the acrimonious split between asset managers Acis Capital Management and Highland Capital Management has become the centre of a dispute stemming from a risk retention financing agreement signed in 2018 -
Fund manager accused of using fake CLO to run multi-million Ponzi scheme
3 years ago
The co-founder of an investment management company who has been charged with fraud by the securities and exchange commission for setting up a multi-million dollar Ponzi scheme is alleged to have raised a CLO trust backed by fraudulent trade finance loans -
Highland directors intervene to get CLO mismanagement lawsuit dropped
4 years ago
Details have emerged about the nature of the ‘CLO mismanagement’ lawsuit filed on behalf of a charitable fund, seeded by Highland Capital Management, after it was dropped by plaintiffs -
Charitable daf "seeded by Highland" files lawsuit alleging CLO mismanagement
4 years ago
A charitable organisation has filed a lawsuit against several parties managing and monitoring a pair 2.0 CLOs in which it has exposure to the equity tranche -
Highland Capital Management LP working to remove founder Dondero
4 years ago
Highland Capital Management LP is working with the unsecured creditors committee on a new management team while the US trustee demands an independent trustee to oversee the bankruptcy -
CLO issuance faces threat amid loan definition dispute
4 years ago
The clash over Millennium Laboratories’ bankruptcy could have ramifications for the CLO market, and it all hinges on the philosophical question: what is a loan? -
Highland slams court's approval of CLO manager's restructuring plan
5 years ago
Highland Capital Management has spoken out against a US bankruptcy court’s confirmation of Acis Capital Management’s restructuring plan, saying it expects the decision to be overturned -
Debtwire: Acis CLO judge finds all three plan options unconfirmable and sides with Highland's objections
5 years ago
Acis Capital Management’s judge last week issued a ruling denying all three versions of Acis’s proposed reorganisation plan, which was highly contested by creditor Highland Capital Management and subordinated noteholder Highland CLO Funding -
Debtwire: Highland slams chapter 11 trustee over Acis CLOs as Brigade and Oaktree wait in the wings
5 years ago
Highland Capital Management is preparing for battle this month over the fate of Acis Capital Management, a CLO manager affiliate placed into bankruptcy by its former partner Josh Terry. Three options are on the table, with Oaktree, Brigade and Terry potentially taking prominent roles -
Court order forces former Sound Point CLO PM into 90-day non-compete
5 years ago
Sound Point Capital Management is locked in a dispute with its former employee Murtaza Haque who left the firm in May with a view to joining GoldenTree Asset Management -
Tilton and MBIA reach bankruptcy agreement for Zohar CLOs
5 years ago
The dispute between Lynn Tilton, the Zohar CLOs and creditors, including MBIA, came a step closer to resolution yesterday with the parties reaching an agreement over the bankruptcy of the Zohar CLOs -
Acis CLOs in play as court verdict paves the way towards bankruptcy
6 years ago
Acis Capital Management has moved closer to bankruptcy after a US court found that orders for relief are required
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