receivers appointed to media and income fund while Aberdeen High Income becomes insolvent
Aberdeen Asset Management's split-capital trust problems continue, with one of its trusts becoming insolvent and another being put into receivership. Aberdeen High Income was announced insolvent on 18 July and receivers have appointed by the board of Media and Income. In a third blow to Aberdeen, the Leveraged Income Trust, managed by the group, has also suspended its shares after declines in asset values. The suspension of the Channel Islands-based trust will continue until Aberdeen has a chance to clarify its financial position. A statement from the board of High Income said that, f...
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