Carlyle Capital Suspended; Lenders Force Asset Sales (Update2)
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Bloomberg.com: Worldwide
March 7 (Bloomberg) -- Carlyle Group's mortgage-bond fund was suspended in Amsterdam trading after creditors forced the sale of some holdings, jeopardizing shareholders' capital.
Lenders who issued default notices have liquidated some residential mortgage-backed securities held by the fund and may sell more as talks continue,
Carlyle Capital Corp. said in a statement today. The fund had ``substantial'' margin calls and additional default notices from lenders yesterday, it said.
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Emma Thorpe, a spokeswoman for Carlyle in London, didn't immediately return calls for comment.
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I bet she didn't. After all, she may be worried about whether her salary cheque will bounce!