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SocGen officials decided that the position had to be liquidated as soon as possible, despite the falling markets.
Most surprising, if a private equity-owned company defaults on its debt, it is half as likely to be liquidated as its counterparts.
About 71percentt of the investors in the two Cerberus Partners funds want their assets moved into a new vehicle that will be liquidated as market conditions improve, Stephen A. Feinberg, who runs Cerberus, wrote in a letter to clients delivered late Thursday.
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This new paper was based in Oslo as the replacement of Norges Kommunistblad, which had been liquidated as well.
He had fired his secretary, sold his million-dollar house at a loss, moved his new family into a rental, and was paying bills and debts with credit cards, stock sales, a loan from his in-laws, and proceeds from his business properties, which were losing value every month and which he was liquidating as quickly as possible.
Later in 1998, the Lone Star Trust was liquidated as Bush prepared his bid for the presidency.
The Pimco Precious Metals fund was liquidated, as were 12 real estate funds and 10 government bond funds.
"It appears that some investors' accounts were liquidated as shares plummeted only to have stock prices close significantly above their sale prices," Ms. Schapiro said.
G.M. later stopped offering the heated washer-fluid system because the supplier that made it, Microheat, filed for bankruptcy and was liquidated as a result of the 2008 recall.
A nightmare for GE would be another carrier flying into Chapter 11, or one of those already there being liquidated, as either would release a flight of planes on to the market, thereby further depressing second-hand values and leasing rates.Many of GE's leases to American carriers are so-called leveraged leases.
As many as 60,000 of Greece's Jews were liquidated as part of the Final Solution.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com