Lifemark-CarVal rescue deal not 'gone forever'

Last week, KPMG, the provisional administrators for Luxembourg-based Lifemark, chose to repay a £3.5m emergency "bridging" loan CarVal had made to the fund to stave off default. This released Lifemark from a six week exclusivity period with the US company over a possible $60m longer-term funding proposal and opened up negotiations to other offers. However, it is believed CarVal has not left the negotiations for good and brokers of the deal believe it is still "infinitely better than liquidation" for Lifemark. Since the loan repayment by Lifemark, a third party for a US specialist i...