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Carlyle Capital Corporation Intends to File for Compulsory Winding up in Guernsey

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    Carlyle Capital Corporation Intends to File for Compulsory Winding up in Guernsey

    NEW YORK, Mar 16, 2008 (BUSINESS WIRE) -- CARYF | news | PowerRating | PR Charts -- Carlyle Capital Corporation Limited (Euronext Amsterdam ticker symbol: CCC; ISIN: GG00B1VYV826) (the Company), today announced that its Board of Directors recommended that Class A Shareholders vote in favor of a compulsory winding up proceeding under the Companies Law in Guernsey. The shareholder approval process was completed on March 16, 2008, with Class A Shareholders voting unanimously in favor of a compulsory winding up proceeding under the Companies Law in Guernsey.


    The Company will now move forward with the winding up and liquidation application. During a compulsory winding up, all remaining CCC assets will be liquidated by a court appointed liquidator in a timely and orderly manner.

    As expected, the Company received default notices from its remaining two lenders and it believes that its lenders have now taken possession of substantially all of its U.S. government agency AAA-rated residential mortgage-backed securities (RMBS). As a result, the Company believes its liabilities exceed its assets.

    http://www.tradingmarkets.com/.site/news/Stock News/1206673/
     

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