The battle between bondholders and CFN Investment Holdings is finally petering out after a bankruptcy-court ruling that awarded the Conseco Finance unit to the buyout firm. As part of the agreement, CFN made two key concessions to bondholders - a 12-month step-down in the servicing fee and the creation of an oversight committee consisting of bondholders.

The impacts of these developments will begin playing out within the next six-months and may not be fully understood for up to two years, market sources theorized.

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