First Guardian victims recoup 8% of $38m loan

First Guardian victims recoup 8% of $38m loan

Victims of the First Guardian Master Fund will only recoup $2.9 million out of a $38.3 million loan made by responsible entity Falcon Capital, according to liquidators who said the amount represents a realistic commercial value compared to alternative options. FTI Consulting, which was appointed as joint liquidators of Falcon, said the recoverable amount with respect to the Western Subdivisions is "much less" than unitholders in the First Guardi…