Brazil’s Laep BDA Assets Could Be Liquidated
The Bermuda assets of Laep Investments Ltd — a Bermuda-based buyout fund with interests in luxury retailing and dairy products in Brazil — could be liquidated, according to a report from Reuters.
Cayman Islands-based fund GLG Emerging Market Special Situations Fund won the right to be repaid a debt with Laep’s assets. Laep owes GLG around $76 million, and ranks above employees, shareholders and other creditors in the order of repayment.
