The Guernsey Financial Services Commission (GFSC) has approved the restructure of the suspended EEA Life Settlements fund, in a move which could finally allow investors to exit the fund after a two-year wait.
In an update, the EEA's board of directors said the Guernsey regulator had granted the "necessary regulatory approvals" to allow the restructure to proceed. As a result, EEA said it would restructure the fund on 1 January and lift the two-year suspension on valuations. It said: "The suspension of the valuation of the net asset value of all classes of participating shares in each cell of the Fund and of the issue, sale, purchase, redemption and conversion of shares of each such class, which the Board originally declared on 30 November 2011, shall be lifted immediately upon the restruct...
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