Lifemark investors relegated to 7th place for payouts

The list puts in order of importance the rights of those companies or people who are owed money by Lifemark to be paid in the event of its insolvency or successful financial restructuring. Only Lifemark, the issuer of the bonds, ranks lower than bondholders for the return of money owed. N&P and CarVal are third in line for repayment of the joint $10m emergency bridging loan, at £1.5m and $7.5m respectively, which they put forward in October to save the fund from liquidation. This is a joint ranking with Lifemark's swap counter-party Swedish bank SEB. The notice detailing the rankin...