Special situation funds investment restrictions allow resolution applicant status but bar associate and certain AIF unit investments. Special situation funds may invest only in special situation assets and may act as resolution applicants under the Insolvency and Bankruptcy Code. They are prohibited from investing in their associates, in units of any AIF other than units of a special situation fund, and in units of special situation funds managed or sponsored by their manager, sponsor or associates. Investments in stressed loans acquired under the Transfer of Loan Exposures Master Direction are subject to a lock-in period specified by the Board.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Special situation funds investment restrictions allow resolution applicant status but bar associate and certain AIF unit investments.
Special situation funds may invest only in special situation assets and may act as resolution applicants under the Insolvency and Bankruptcy Code. They are prohibited from investing in their associates, in units of any AIF other than units of a special situation fund, and in units of special situation funds managed or sponsored by their manager, sponsor or associates. Investments in stressed loans acquired under the Transfer of Loan Exposures Master Direction are subject to a lock-in period specified by the Board.
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