Primus Guaranty Ltd. (fka PRSG)

[Enterprising Investor]

Liquidation Update (5/11/16)

The Liquidators of Primus Guaranty, Ltd. (the “Company”) notifies shareholders that two (2) outstanding asset matters remain in relation to one of its subsidiaries, Primus Asset Management, Inc. (“PAM”) – (1) the possible sale of its investment in CLO notes with a face value of $1.096 million, and (2) the possible disposal of a Patent which was originally made out to those within the former Primus Corporate (the “Patent”), amongst other parties. The Liquidators have been coordinating with Deutsche Bank National Trust Company, the trustees of the CLO notes, to assist in finding potential Qualified Investment Buyers of the CLO notes. The Patent certificate was issued by the United States Patent Office for the design of a trading platform/system, which was originally intended to be operated and managed by PAM but such a system was never developed/materialised. As neither the Company nor PAM appears to have title to such Patent, the Liquidators have reached out to the original parties of the Patent and await their decision/confirmation to have the Patent returned. The Liquidators anticipate that these asset matters will be completely resolved by end of June 2016.

http://www.primusfinancial.com/news/