Sunterra Corp., which had been a dominant timeshare player prior to filing for bankruptcy in 2000, is hoping to present the ABS market with its first term transaction in almost five years. The deal is scheduled for this month.
"We were waiting to put up a year of post-bankruptcy results [before securitizing]," said. Lillian Liu, vice president of finance at Sunterra. The company emerged from bankruptcy in 2002.