Channel Islands affiliate of the Washington private-equity firm Carlyle Group, said it would apply under Guernsey's companies law to liquidate the firm. Holders of the Class A shares have approved the move, Carlyle Capital said. The company "received default notices from its remaining two lenders and it believes that its lenders have now taken possession of substantially all of its U.S.-government-agency AAA-rated residential-mortgage-backed securities," Carlyle Capital said in a statement late on Sunday. "As a result, the company believes its liabilities exceed its assets." Carlyle said the board recommended winding up the company's affairs after analyzing its prospects and "careful consideration of other options for continuing the business. The company will work with the court-appointed liquidator to ensure an orderly realization of assets and their subsequent distribution." Carlyle Capital was formed in August 2006 and went public in July 2007
Uncle Ben we are so screwed.
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