Southey Capital is looking to buy claims in to the LM First Mortgage Income Fund administration.
Accepted claims in to the First Mortgage Income Fund "FMIF" have you to receive a distribution and there are still considerable legal cases outstanding that could decrease the potential recovery for unsecured claim holders.
Whilst the legal cases to recover funds and prevent further large claims are ongoing, little or no funds will be distributed. Costs of the administration will also increase.
Southey Capital is able to offer a cash purchase price for valid and accepted claims in to the various administrations of the LM group. For claims accepted by BDO, in to the First Mortgage Income Fund, we would ask claim holders to send us all letters/documents they have been sent by the administrators via the form below, so that we can understand the nature of your investment ( for example a direct investment or via a feeder fund ) so that we can come back to you with a non-binding, no obligation offer.
If you we agree on price we will send to you a trade confirmation for your signature as well as a request for typical KYC documents. We will then ask the liquidators to transfer your claim and upon succesful confirmation make payment to you.
The process normally takes as little as two weeks and if you have any questions, Southey Capital is always happy to help you with any questions you have.
LM First Mortgage Income Fund