Ernst & Young (E&Y) has been forced to file a huge range of valuations with potential rescuers of Lifemark, because the fund's final worth is so unpredictable.
The valuations are in a confidential report detailing Lifemark's potential future losses. E&Y has given the dossier to parties interested in a rescue deal for the life settlements vehicle, which underpinned Keydata plans. US hedge fund CarVal, which is currently undergoing due diligence on the Lifemark, is understood to have received a copy. However, the report only offers a wide range of valuations of Lifemark, not a final value, according to sources close to the situation. Based on a complex financial model, the E&Y report resembles a decision tree designed to gauge the fund's wo...
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