Alle Insights

Buying Consumer Debt at Four Cents: The Work Behind the Recovery

China Renaissance's purchase of deeply discounted consumer debt offers a practical lesson in portfolio review. The agreed consideration, the unpaid principal, the cost of servicing and the cash eventually recovered answer different questions. A low purchase price becomes meaningful only when the recovery work and its timing are understood.

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An NPL Sale Transfers a Workout, Too: Reading Fannie Mae's Latest Auction

Fannie Mae's latest auction identifies a buyer for 1,179 non-performing mortgages. Its published cover bid is the second-highest offer, and closing is still expected. For a portfolio buyer, the practical question extends beyond price: which borrower arrangements, servicing duties and unresolved cases must survive the handoff?

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A Policy Is Not a Payout: Why Insured Private Credit Needs a Separate Claim Lifecycle

IAG's October 2026 White Oak settlement updates the Greensill insurance story. Publicly stated claim amounts describe what was sought, while settlement terms remain confidential. A useful recovery record distinguishes the receivable, policy, claimant's entitlement, agreed resolution, cash receipt and allocation to investors.

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Receivership Is Not One Transfer: Why Failed-Bank Loan Portfolios Need Asset-Level Ownership State

Nano Banc's resolution separated an institution-level event from the disposition of individual assets. The announcements describe assets acquired and assets retained, but they do not identify the owner of each loan. Reliable transition records must distinguish loan ownership, servicing, payment instructions and later sales, with evidence and effective dates for each.

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A $1 Billion Claim Is Not a $1 Billion Asset: What 1MDB Shows About Recovery Rights

Liquidators of four companies have sued DBS Bank in Singapore for an estimated S$1.298 billion in damages in connection with 1MDB recovery efforts. DBS categorically rejects the claim and has made no provision for it. The case is a useful illustration of a broader private-asset problem: once the original money has moved or disappeared, the economically relevant asset can become a recovery right. But the amount claimed, the expected value of the claim, a judgment, cash actually recovered and...

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