October 2012

TAO announces successful conclusion of sale process for residential mortgage assets of Maple NHA Mortgage Trust.

TAO Administration Inc. and TAO Asset Management Inc. announce the completion of the sale and liquidation of the residential mortgage assets of Maple NHA Mortgage Trust as part of TAO’s retainer last year by the Indenture Trustee.  The sale process included a broad exposure of the assets to the market in accordance with a court approved sale process designed and executed by TAO Asset Management Inc.  Assets consisted primarily of insured multi-family Canadian residential mortgages, and also included separate pools of mortgage residual interests.  The sale process yielded a significant premium to the Trust on a portfolio basis.  The mandate also included special services provided by TAO, including expert analysis and advice with respect to covenant compliance by the Trust for periods prior to TAO’s appointment and with respect to which TAO worked closely with Ernst & Young Inc. to produce a report for the Indenture Trustee and the Trust’s stakeholders.

Get in touch

call +1 (416) 309-7557
email info@taoadmin.ca

Visit us

11 King Street West, Suite 1600
Toronto, Ontario M5H 4C7

Our Location