NB Distressed Debt Investment Fund to enter voluntary liquidation

GUERNSEY - NB Distressed Debt Investment Fund Limited (NBDDIF) announced Wednesday its plan to enter a Members’ Voluntary Liquidation and return capital to shareholders, with an Extraordinary General Meeting (EGM) and Class Meetings scheduled for December 4, 2025.

The announcement follows the company’s August statement that it intended to implement such proposals before year-end. Recent developments include two additional asset realizations that have left the Ordinary (NBDD) and Extended Life (NBDX) share classes holding predominantly cash.

The Global (NBDG) share class retains only one remaining investment in the lodging and casino sector, which is currently undergoing a sale process.

"Today’s announcement follows the investment manager’s work to realise the proceeds from the Company’s portfolio, balancing timely realisations with maximising proceeds to shareholders," said John Hallam, the Company’s Chairman, in a press release statement.

The company plans to maintain its London Stock Exchange listing with trading suspended until at least after an initial cash distribution to shareholders. Cash retained by the company, not required for expenses or liabilities, will be distributed to shareholders of all three share classes in the near term.

Following appointment, the liquidator will work with Neuberger Berman to complete the sale of the final NBDG share class investment and make additional distributions when appropriate.

The company noted that material cost savings are expected as a result of entering voluntary liquidation.

The EGM and Class Meetings will take place at the company’s registered office in St. Peter Port, Guernsey. A shareholder circular containing detailed information about the proposal will be mailed to shareholders and made available on the company’s website and the National Storage Mechanism.

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