Sun, Apr 26, 2015
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. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Hedge funds looking to continue their rally in Q2[more]

    Komfie Manalo, Opalesque Asia: Hedge funds finished the first quarter on a strong note and are looking to continue the rally in the second quarter, said Lyxor Asset Management in its Weekly Brief. The Lyxor Hedge Fund Index is up 0.4% over the week

  4. Hedge funds down -0.17% in March (+1.23%YTD)[more]

    Bailey McCann, Opalesque New York: The hedge fund industry produced an aggregate return of –0.17% in March to end Q1 2015 up 1.23%, compared to the S&P 500 which increased 0.96%, according to the latest data from eVestment. Hedge fund performance returns were mixed in March amid increased equity

  5. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

 

banner