Legacy CLO to take a hit as manager attempts to settle Lehman lawsuit

By James Harvey

Subordinated noteholders in a European CLO are set to take a hit as the manager attempts to settle a court case with the Lehman Brothers estate, according to an investor notice

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TAGS: Law suits

View details on CLO-i: Avoca CLO VII - called deal

Comment by: Anonymous. Posted 3 years ago [2015-07-08 01:37:18]

Is that the full settlement? The CLO pays roughly $0.6 million and gets to keep the $6.6 million loan? That's a great deal for the CLO given that its initial participation status should have left it with a large loss to the Lehman failure.