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Rating:Reserve Hits 'Pause' on a Liquidation Not Rated 1.0 Email Routing List Email & Route  Print Print
Monday, November 16, 2009

Reserve Hits 'Pause' on a Liquidation

News summary by MFWire's editors

Shareholders in the Reserve Yield Plus Fund have to wait longer still to get the last bits of their money out. Fourteen months after the collapse of Lehman Brothers sunk the Reserve Primary Fund, the board of Yield Plus has decided to hang on to the remaining $85.5 million in the fund, "given the uncertainties related to pending claims and other fund expenses." Dow Jones' Daisy Maxey first reported on the board's decision.

For the full story on the the death of the Reserve and its Primary Fund, see MFWire's timeline.

"The Board has decided not to make additional distributions at this time, but expects to revisit these considerations in the near future," reads a November 12 statement (pdf) from Reserve.

According to the board, Reserve has already distributed more than $1 billion (more than 90 percent) of Yield Plus' assets to its shareholders. 

Edited by: Neil Anderson, Managing Editor

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