Tue, May 24, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

ASM Capital announces plans to purchase MF Global customer claims

Tuesday, February 21, 2012
Opalesque Industry Update: ASM Capital, one of the largest domestic purchasers of bankruptcy claims, recently announced its intent to purchase investor claims in the MF Global Securities Investor Protection Act (SIPA) liquidation.

“It is estimated that at least $1.2 billion of investor cash was unaccounted for when futures commodity broker MF Global collapsed at the end of October. Initial indications are that there were over 38,000 customer accounts over which this loss was spread, and to date these accountholders have received around 72 percent of the cash that they were holding in their accounts,” said ASM Capital’s Managing General Partner Adam Moskowitz.

To assist MF Global customers, ASM Capital is providing an upfront payment with a recovery sharing option that will allow those who sell their MF Global claims to share in any upside. ASM Capital has extensive experience in investing in the obligations of companies in bankruptcy. The company has purchased hundreds of millions of dollars in claims and provided liquidity to thousands of creditors during the past 12 years, including the Bernard L. Madoff Investment Securities liquidation case.

“Customers who are owed money by MF Global should contact us for details on how we would purchase the claim and provide immediate liquidity with a 3-5 day turnaround. Our in-house team includes experts in bankruptcy law, financial analysis and bankruptcy administration who know how to navigate the highly specified purchasing process and understand the bankruptcy system,” Moskowitz said.

ASM Capital

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other voices: What current trends tell us about the future of the hedge fund industry[more]

    By: Don Steinbrugge, Agecroft Partners The following comments are excerpted from Agecroft Partners’ Don Steinbrugge’s presentation delivered at the 69th CFA Institute Annual Conference held on May 9th, 2016 in Montreal. In Mr. Steinbrugge’s session titled "What Current Trends Tell Us about th

  2. Investing - Steve Cohen boosted Sotheby’s stake to $86 million last quarter, Larry Robbins' hedge fund sells off all CHS, UHS hospital stocks, Tiger Global cut stakes in Amazon, JD.com, Apple last quarter, Invest in real estate near biotech hubs, Prudential’s Hyat says, Valeant: A hedge fund hotel wrecking ball[more]

    Steve Cohen boosted Sotheby’s stake to $86 million last quarter Billionaire trader and art collector Steve Cohen is on a buying spree of Sotheby’s shares. Cohen’s Point72 Asset Management acquired 1.2 million Sotheby’s shares, bringing its total to 3.2 million valued at $86.1 million at

  3. Legal - Boaz Weinstein wins round in fight with Canada’s PSP[more]

    From FT.com: Boaz Weinstein, the hedge fund manager credited with spotting JPMorgan’s “London Whale” in 2012, has won a round in a legal battle with Canada’s Public Sector Pension Investment Board that had become a test case of responsibilities when clients withdraw money. PSP sued Mr Weinstein and

  4. Regulatory - The latest Fannie and Freddie reform bill offers a bonanza for hedge funds[more]

    From WSJ.com: The latest housing finance reform bill making the rounds on Capitol Hill offers a bonanza for hedge funds seeking to cash in on their investments in Fannie Mae Mae and Freddie Mac—but the cost to taxpayers would be steep. Congressman Mick Mulvaney, the South Carolina Republican, introd

  5. West Virginia objects to Alpha Natural sale to hedge fund[more]

    From AP/Heraldcourier.com: West Virginia's environmental authority has filed an objection to the proposed $500 million sale of Alpha Natural Resources' assets to a hedge fund, arguing that the deal could leave the state holding hundreds of millions in reclamation liabilities. The Register-Hera