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Fir Tree Partners Terminates Cash Tender Offer for Certain Residential Mortgage-backed Securities Subject to the Proposed $4.5 Billion JPMorgan Chase...

February 28, 2014



Fir Tree Partners Terminates Cash Tender Offer for Certain Residential Mortgage-backed Securities Subject to the Proposed $4.5 Billion JPMorgan Chase RMBS Settlement

By a News Reporter-Staff News Editor at Real Estate Weekly News -- Fir Tree Partners, a private investment firm, announced that it has terminated its previously announced cash tender offer (the "Offer"), through its affiliate, FT RMBS, LLC, for certain Residential Mortgage-Backed Securities ("RMBS"). The Offer was made pursuant to an offer to purchase dated January 22, 2014, as supplemented, and a related letter of transmittal.

All of the RMBS trusts that were subject to the Offer are involved in active litigations against JPMorgan for breaches of representations and warranties. On those trusts where Fir Tree is acting as a directing holder, it will continue to vigorously seek to prosecute these RMBS litigations going forward.

As a result of the termination, none of the RMBS that have been tendered in the Offer will be accepted for purchase. All RMBS previously tendered and not withdrawn will be promptly returned or credited back to their respective holders.

The termination of the Offer was effective at 6:30 P.M. (Eastern Standard time), February 11, 2014.

Keywords for this news article include: Mortgage, Real Estate, Fir Tree Partners.

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Source: Real Estate Weekly News


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