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Solutions Group - Next Step

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125 views3 pages

Solutions Group - Next Step

Uploaded by

gmiladinov19
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Dear Christian & Georgi

Here we are off to the next stage of Solutions Group transaction. As you are
both aware and without having to repeat this, we are dealing with a very
difficult asset. Not only because of the asset itself which is extremely hard to
monetise and trade where there is no insurance or rating, especially, but also
in terms of its track record. The entire counter party(ies) and especially
Credit Suisse rejected working on it. We are also dealing with highly sought
after and regulated Zurich Trader as well as his attorney and his team & the
buyer. I had to beg the trader to re-engage which he finally accepted and
this is where we are.

Every step of this transaction comes with enormous amount of challenge;


until of course the bond is in Credit Suisse and all insured and perhaps then
we can relax, as the worst will be over. After failure of UniCredit in respect of
delivering the bond, we had of course no choice but succumb to the idea of
the bond going back to IBP Markets and then from there, over to Credit
Zurich. I am still unclear how IBP can organise this when the bond is not
even in their custody and it is somewhere between UniCredit and IBP!

I am also unclear how IBP can demand all sorts such as talking to Credit
Suisse banker and or the buyer when they do not have custody of this bond!
In any case, as you are both aware that because of a very negative and poor
track record of this bond, I could not arrange for Credit Suisse to engage in
any way and again, I humbly asked Mr Rudolf Keller, The Trader to write to
IBP and provide them with further assurance and verification that they may
need prior to delivering the bond. Please know this that this was very
challenging to organise and in the end Mr Keller agreed and wrote to Davide
of IBP last Friday. Mr Keller is highly respected by very senior bankers in
most top prime banks, and Davide should respond to him first thing Monday
morning and as a matter of respect. Also, this bond is in control of Solutions
Group and their agent IBP Markets and they should make all necessary
arrangements to have this delivered to Credit Suisse without any further
delay. Once the bond is in the control of the trader, Credit Suisse and the
attorney and the entire team will all also assist with insurance and this will
speed up somewhat.

I leave it with you both to arrange all and please do your best to arrange all.
We would like this bond in Credit Suisse this week and ASAP please.

Many thanks both


Kind regards
Rory

Rory De Niro, Chief Executive


Linkedin | Twitter | Scheduling

Asset Management | Business Acceleration & Automation | Advisory | iMoney

UK: +44 7595 838130


U.S.: +1 (949) 524-6720

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