Sun, Aug 28, 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. Strategies - The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I, Hedge funds get more pushback on terms as enthusiasm for strategy wanes[more]

    The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I From IBTImes.co.uk: To illustrate a strategic gap common to today's portfolio managers, George Sokoloff, PhD, founder and CIO at Carmot Capital, proposes an interesting thought experiment – a breakdown of

  2. Institutional investors - Investors set to increase allocation to private debt, With investment income key, Richmond retirement system faces funding challenges[more]

    Investors set to increase allocation to private debt Investors are set to increase their allocation to private debt, with 60% revealing they believe the private debt market will grow over the next 12 months, according to a new study by Elian, a leading funds services provider. 41%

  3. Investing - Hedge funds snap up banks, unload Apple, Some of hedge funds' favorite stocks are finally starting to beat the market, Einhorn's Greenlight shifts positions, Treasury yield climbs to two-month high as Fischer joins hawks, 9 stocks smart investors put their money in last quarter[more]

    Hedge funds snap up banks, unload Apple From Barrons.com: Prominent hedge funds have a newfound love of big banks, and some have a distaste for shares of Apple, regulatory filings released last week show. The filings suggest that the funds have been pivoting their portfolios in recent mon

  4. Chesapeake energy seeks $1 billion loan to refinance debt[more]

    From Bloomberg.com: Chesapeake Energy Corp. is seeking a $1 billion loan as the company battered by cratering fuel prices and credit downgrades takes a step to address its $9 billion debt load. The natural gas producer hired Goldman Sachs Group Inc., Citigroup Inc. and Mitsubishi UFJ Financial Group

  5. Institutions - Nordic pension funds magnify focus on unlisted and direct investing, building up teams[more]

    From IPE.com: As bond yields remain at low or negative levels, pension funds and other institutional investors in the Nordic region are stepping up efforts to find higher returns by adding more unlisted investments to portfolios and are expanding in-house teams in order to do this, according to new