Barak Says High Portion of Investors Support Fund Restructuring
- Firm plans to spin off illiquid assets from trade finance fund
- Approval will likely come at annual meeting, firm says
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Barak Fund Management is confident that a restructuring proposal for its frozen trade finance fund will be approved by investors, the firm said Friday.
A “high percentage” of investors have shown support for the firm’s plans and intend to remain on board, with approval likely to come at its annual general meeting, Barak said in an emailed statement. The firm is also continuing to service its borrowers, it said.