Reply #96: It was Carlyle Capital Corp, an Amsterdam-based fund

[Ghost Dog]

of Carlyle's:

Amsterdam-listed Carlyle Capital said on Thursday it has defaulted on $16.6 billion of debt and was unable to reach a deal with lenders.

It said on Wednesday that talks with lenders deteriorated after a decline in the value of its mortgage investments, which it said would result in margin calls of $97.5 million on top of the $400 million it was already facing.

Carlyle Capital's counterparties for its repurchasing agreements at the end of 2007 were Bank of America, Bear Stearns, BNP Paribas, Calyon, Citigroup, Credit Suisse, Deutsche Bank, ING, JP Morgan, Lehman Brothers, Merrill Lynch and UBS, according to its latest -- and only -- annual report.

/... http://www.reuters.com/article/businessNews/idUSN1651831320080317?sp=true