Thursday, March 13, 2008
Here We Go
Carlyle Capital Corporation (CCC), the Dutch-listed affiliate of US private equity firm Carlyle, admitted today it is likely to be liquidated after failing to reach an agreement with its lenders. Talks between the Guernsey-based company and its bankers fell apart yesterday and the company announced last night the failure to rescue the firm. Efforts to rescue the company, which has defaulted on $16 billion of debt, have failed and the company has been unable to prevent its bankers from seizing the assets. "The company expects that its lenders will promptly take possession of substantially all of the Company’s remaining assets,"