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26 November 2020. EEA Life Settlements Fund PCC Limited - Shareholder update on the US Proceedings instigated by Coventry
EEA Life Settlements Fund PCC Limited (the Fund) has issued the following Shareholder update on the US Proceedings instigated by Coventry. What has prompted the US proceedings in Coventry Capital US LLC v EEA Life Settlements Inc., & others(the US Proceedings)? The US Proceedings relate to a failed negotiation in 2017 between EEA Life Settlements Inc. (EEA Inc.) and Coventry Capital US LLC (Coventry), for the sale of portfolio of investments in life insurance policies. The parties entered into a letter of intent, under which they agreed to negotiate further in good faith to explore a potential…
26 October 2020
Please see below issued by the Manager today with a Portfolio Update as at 30 September 2020: EEA Life Settlements Fund PCC Limited (the “Fund”) Portfolio Update as at 30 September 2020 At the reporting date of 30 September 2020, the Fund held 63 life insurance policies with a total net death benefit of $236 million. The average policy size (net death benefit) was approximately US$3.8 million. The portfolio covered 28 illnesses, 42 lives and 27 insurance companies. Based upon weighted net death benefit, 86.8% of the portfolio was represented by insureds who were aged 80 or over, with an…
20 October 2020
EEA Life Settlements Fund PCC Limited (the Fund) – 1 October 2020 Redemptions of Continuing Shares The Fund has redeemed approximately $3.02 million of shares across all Continuing Cells in respect of the 1 October 2020 Redemption Day. The aggregate Redemption Values of redemption requests has exceeded the level of Available Cash held as at 30 September 2020 for 11 of the 13 Continuing Cells. As a result, the Fund’s board of directors (the Board) has exercised its power to restrict redemptions of Shares in each of those 11 relevant Continuing Cells to the amount of Available Cash attributable…
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