CDOs/CLOs

Euromax IV MBS S.A. (Euromax IV) triggered an event of default following a breach of its event of default overcollateralization ratio trigger. It’s likely to be the first of several European collateralized debt obligations to experience event of defaults triggered by a similar situation, Fitch Ratings said.

BNP Paribas appointed Giovanni Pini as head of ABS strategy and Olivier Morand-Duval as European head of ABS trading. Perry Inglis also joined as head of ABS valuation and origination.

Highland Capital Management, which last week returned investments and closed its CLO Value Fund I, is preparing to kick off another similar fund, according to a source familiar with the matter.

ING Alternative Asset Management, a unit of ING Investment Management, has been appointed as the successor collateral manager for three CLOs previously managed by Avenue Capital Management II.

Highland Capital Management, an investment management firm based in Dallas, Texas, completed its CLO Value Fund I and that the fund has provided 138% gross

Jefferies has hired Sharif Anbar-Colas as its global head of CLO and CDO trading, an addition that is part of the firm's expansion of its fixed income business, the New York-based investment bank said today.

It's fitting that the ASF conference is being held in Washington, D.C. Uncle Sam, after all, has been playing a crucial role as securitization's savior as well as working double time to alleviate the problems plaguing the mortgage market.

"There are snakes that go months without eating. And then they finally catch something, but they're so hungry that they suffocate while they're eating. One opportunity at a time." - Don Draper, Mad Men

A Milwaukee County Circuit Court judge ruled yesterday that a lawsuit filed by five southeastern Wisconsin school districts against several financial firms over the safety of an investment involving synthetic CDOs can proceed.

Nixon Peabody expanded its securitization and structured finance group as well as its corporate trust team.