FDIC sells $1.02 billion in distressed loans to fund managed by Colony Capital Acquisitions

Today, the FDIC announced that Colony Capital Acquisitions, LLC paid a total of approximately $90.5 million (net of working capital) in cash for a 40% equity stake in a limited liability company (LLC) created by the FDIC to hold a portfolio of approximately 1,200 distressed commercial real estate loans with an aggregate unpaid principal balance of $1.02 billion arising out of 22 failed bank receiverships.

Filed under:
USA, Banking, Insolvency & Restructuring, Real Estate, Alston & Bird LLP, Commercial property, Interest, Limited liability company, Investment funds, Portfolio (finance), Distressed securities, Federal Deposit Insurance Corporation (USA)
Authors:
Darren Cooper
Location:
USA
Firm:
Alston & Bird LLP
TCW withdraws securities from the Public-Private Investment Program

This past Monday, in the wake of last month's termination of TCW Group, Inc.

Filed under:
USA, Capital Markets, Insolvency & Restructuring, Alston & Bird LLP, Security (finance), Investment management, Debt, Mortgage loan, Liquidation, US Department of the Treasury
Authors:
Darren Cooper
Location:
USA
Firm:
Alston & Bird LLP
Northern Rock restructuring to take effect January 1

Today, the U.K. Treasury and Northern Rock plc separatelyannounced that the restructuring of Northern Rock will take place on January 1, 2010 (Transfer Date).

Filed under:
United Kingdom, Banking, Insolvency & Restructuring, Alston & Bird LLP, Retail, Debtor, Unsecured debt, Interest, Asset management, Swap (finance), Mortgage loan, Public limited company, Subordinated debt, European Commission, HM Treasury (UK), FSA
Authors:
Darren Cooper
Location:
United Kingdom
Firm:
Alston & Bird LLP