FCA, EU AND MIFID II DISCLOSURES

U.K. Stewardship Code Disclosure Statement

Please see attached document for the U.K. Stewardship Code Disclosure Statement.

U.K. Shareholder Rights Directive II

Please see attached document for the U.K. Shareholder Rights Directive II Engagement Policy.

U.K. MIFIDPRU 8 Disclosure Statement

Please see attached document for the U.K. MIFIDPRU 8 Disclosure Statement.

MIFIDPRU 8 Disclosure January 2024

EU Sustainable Finance Disclosure Regulation

Please see attached document for the disclosures pursuant to Articles 3, 4 and 5 of the EU Sustainable Finance Disclosure Regulation (2019/2088) (SFDR)

Cigna

This link leads to the machine-readable files that are made available in response to the federal Transparency in Coverage Rule and includes negotiated service rates and out-of-network allowed amounts between health plans and healthcare providers. The machine readable files are formatted to allow researchers, regulators, and application developers to more easily access and analyze data.

Cigna Machine Readable Files

Terms Of Use

We are pleased that you have elected to visit our website.

Please read these Terms and Conditions of Use carefully.  These Terms and Conditions, including all documents referenced herein and any ‘important information’ associated with any specific content of this website, represent the entire understanding between Avenue Capital Group, LLC and its affiliates (collectively referred to as “Avenue Capital Group” or “we/us/our”) and you regarding your use of this website and supersedes any prior statements or representations.  This website’s Privacy Policy is incorporated into these Terms and Conditions by reference and is made a part hereof.

Access, distribution and/or use of this website is subject to all applicable laws and regulations.  To the extent that access, distribution and/or use of this website would be deemed illegal by applicable law, such access, distribution and/or use is prohibited.  By visiting any area on the Avenue Capital Group website and/or registering for any interactive functionality of the website, you are deemed to have accepted these Terms and Conditions of Use.  If you do not agree to abide by these Terms and Conditions of Use, please do not use this website.  If you have any questions or comments in relation to these Terms and Conditions or our Privacy Policy which together govern our relationship with you in relation to your use of this website, please contact us before using this website.

Contact Us

compliance@avenuecapital.com
Avenue Capital Group
11 West 42nd Street, 9th Floor
New York, NY 10036

Disclaimer

None of the information or materials contained on or accessible through this website, including any information or materials accessible in any password protected areas, nor information on an Avenue Capital Group (“Avenue”) social media page, should be construed as providing any type of investment or other advice to you, nor should you consider it as a solicitation, recommendation, endorsement or offer to you to purchase or sell any financial security or other financial instrument.  Offers to sell interests in any fund managed by Avenue are made only by formal offering documents, including, among other things, such fund’s private placement memorandum and subscription documents. The content on this website and any social media page related to Avenue is not an advertisement and is for informational purposes only.

No posts, comments, and other content on this page or an Avenue-related social media page (“Content”) constitute an offer to sell or a solicitation to invest in any security or financial product. Content is not an advertisement and is for informational purposes only. Content should not be considered legal, tax, or investment advice or a recommendation or offer to invest in any particular asset, entity, security, strategy, or product.

Except where otherwise indicated, Content is based on matters as they exist as of the original date of publication of such material and not as of any future date. Certain Content, including, without limitation, forward looking statements, constitute views of Avenue regarding the current state of the markets. Such views are subject to change without notice based upon numerous factors, such as further analyses conducted by Avenue, and changes in economic, market, political, and other conditions. There is no assurance that such views are correct or will prove, with the passage of time, to be correct and should not be relied upon.

While certain financial market information referenced has been obtained or shared from third parties and is believed to be reliable, such information has not been independently verified by Avenue. Avenue assumes no responsibility for the accuracy of such information and makes no representation or warranty (express or implied) with respect to such information. Information shared from third-parties and links to third-party websites do not imply any testimonial, endorsement, review, or approval by Avenue.

Any target rates of return shown or shared by Avenue are hypothetical returns and are for illustrative purposes only.  Accordingly, no assumptions or comparisons should be made based upon these returns.  Target returns are subject to inherent limitations. One limitation is that the returns do not take into account the impact that certain market and economic risks, such as defaults, prepayments, and reinvestment rates.  In addition, target returns are subject to risks and uncertainties that may change at any time, and therefore, actual results may differ materially from those expected.  In no circumstances should the targeted returns be regarded as a representation, warranty or prediction that any investment will reflect any particular performance or that it will achieve or is likely to achieve any particular results or that investors will be able to avoid losses, including total losses of their investment.  Inherent in any investment is the potential for loss. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and of course, it is impossible for us to anticipate all factors that could affect our actual results.  Past performance does not guarantee future results.  There is no assurance that any Avenue fund will achieve its investment objectives or that it will or is likely to achieve results comparable to any shown herein, or will make any profit, or will be able to avoid incurring losses.

Use of This Website

This website is operated by, or on behalf of, Avenue Capital Group.  Not all products and services listed on thsi website are available in all regulatory jurisdictions.  To the extent that access, distribution and/or use of this website would be deemed illegal by applicable law in any regulatory jurisdiction then such access, distribution and/or use by you is prohibited.

Use of Materials

All material on this website, including but not limited to images, logos, trademarks, appearances, graphics and any documentation  (collectively referred to as the "Material"), is protected under various intellectual property laws and (except where otherwise stated) owned or controlled by Avenue Capital Group, or used with permission of the owner(s) of such Material.

Except as otherwise indicated on this website, copying, reproduction, uploading, downloading, transmitting or any other use of this website or of any of the Material, in whole or part, without the express permission of Avenue Capital Group, is prohibited. You may, however, copy, reproduce, download, transmit and/or print individual pages contained on this website for the purpose of accessing this website under these Terms and Conditions and/or for your personal, non-commercial use, provided you agree not to conceal, remove or alter any trademark, copyright or other notice contained on: (i) this website; (ii) any of the Material; or (iii) any such individual pages so copied, reproduced, downloaded, transmitted or printed. Any unauthorized use of this website and/or the Materials may subject the user to criminal prosecution and/or civil liability under applicable law.

Please see Avenue Capital Group’s Privacy Policy for information concerning the collection and use of Personal Information from this website.

Links

From time to time, the Avenue Capital Group website may contain links to other websites that are not controlled and/or maintained by Avenue Capital Group. Access to and use of such other websites is at your own risk and subject to any terms and conditions of use which govern such websites. By providing such links, Avenue Capital Group shall not be deemed to endorse, recommend, approve, guarantee or introduce any third parties or their services or products, or any facts, views, advice, information and/or products found on such websites. Avenue Capital Group is not responsible for the content contained on any such websites, or for the failure of any product or service offered for sale or advertised on any such websites or for any damages that may result therefrom. Copyrights in the materials or information on the linked websites are owned by other organizations. Moreover, such other websites may have privacy policies or terms and conditions of use that differ from those of the Avenue Capital Group and/or may provide their users with less security than the Avenue Capital Group website.  Any use of such other address, link and/or hyperlink is undertaken at your own risk and liability.

Copyright Infringement Policy

Avenue Capital Group values intellectual property and respects the intellectual property rights of others, and will remove materials on its website that infringe the copyrights of others. If you believe that your copyrighted material may have been infringed by material contained on this website, then pursuant to Title 17, United States Code, § 512, you may notify Avenue Capital Group's Designated Agent in writing as follows:

Name of Designated Agent: Sonia Gardner
Address: Avenue Capital Group
11 West 42nd Street, 9th Floor
New York, NY 10036
Telephone number: 212-850-7500
Electronic Mail Address: copyright@avenuecapital.com

In your notice, you must include the following: (i) a physical or electronic signature of the owner of an exclusive right that is being infringed or of a person authorized to act on behalf of such owner; (ii) identification of the copyrighted work(s) that is (are) allegedly being infringed; (iii) identification of the materials that are causing the infringement and that are to be removed, along with sufficient information to allow us to locate such materials; (iv) contact information ( i.e., name, address, email address) sufficient to enable Avenue Capital Group to contact you; (v) a statement to the effect that you have a good faith belief that the complained of use of the material was not authorized by the owner of the copyright, its agent or the law; and (vi) a statement that the information in the notification is accurate, and under penalty of perjury, that the complaining party is authorized to act on behalf of the owner of the exclusive right that is allegedly being infringed.

Additional/Different Terms

Certain pages or sections of this website may contain terms and conditions of use which are in addition to or different from these Terms and Conditions of Use. In the event that there is a conflict between such additional or different terms and conditions of use and these Terms and Conditions of Use, the additional or different terms and conditions of use will govern with respect to the specific pages or sections to which they apply.

Limitation of Liability and Use of Disclaimer

Avenue Capital Group is not responsible for any damages or loss related to the use of this website.

THIS WEBSITE, ALL MATERIAL CONTAINED ON THIS WEBSITE, AND ALL LINKS OR OTHER ITEMS RELATED THERETO ARE TRANSMITTED AND DISTRIBUTED "AS IS" AND WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, THAT THE WEBSITE, ITS FEATURES AND FUNCTIONS, WILL BE AVAILABLE FOR USE OR WORK AS DESCRIBED. THERE ARE NO WARRANTIES REGARDING TITLE, SECURITY, ACCURACY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE WEBSITE OR THE MATERIALS CONTAINED HEREON. ANY INFORMATION CONTAINED WITHIN THIS WEBSITE IS SUBJECT TO AMENDMENT, REVISION OR UPDATING. AVENUE CAPITAL GROUP RESERVES THE RIGHT TO SUSPEND OR WITHDRAW ACCESS TO THE PAGES OF THIS WEBSITE WITHOUT NOTICE AT ANY TIME AND ACCEPTS NO RESPONSIBILITY FOR THESE PAGES NOT BEING AVAILABLE AT ALL TIMES. AVENUE CAPITAL GROUP SHALL NOT BE LIABLE FOR ANY ALLEGED DAMAGE OR INJURY, INCLUDING BUT NOT LIMITED TO ANY COMPENSATORY, CONSEQUENTIAL, DIRECT, INDIRECT AND/OR SPECIAL DAMAGES, THAT RESULT FROM YOUR USE OR INABILITY TO USE OR ACCESS THIS WEBSITE OR ANY MATERIALS CONTAINED HEREON OR FROM ANY COMPUTER VIRUS, MALFUNCTION OR OTHER FAILURE.

Avenue Capital Group is not responsible for any damages or loss related to your reliance on any outdated version of these Terms and Conditions, including, but not limited, to any outdated version of our Privacy Policy.

Certain jurisdictions prohibit the limitation or exclusion of liability and disclaimers for certain types of damages or prohibit waivers against future fraud, and accordingly, such limitations or waivers may not apply to you. In such jurisdictions, (a) Avenue Capital Group's liability is limited to the greatest extent allowable under applicable law and (b) Avenue Capital Group may not exclude nor limit its liability (if any) to you for:  (i) breach of any of your statutory rights; (ii)for personal injury or death resulting from our negligence; (iii) for fraud; (iv) for any statutory or regulatory liability that is imposed by any applicable regulatory or supervisory authority; and/or (v) for any liability which Avenue Capital Group cannot otherwise lawfully exclude or limit, or attempt to exclude or limit.

Accessing, Transmitting and Downloading

Avenue Capital Group is not responsible for any damages incurred as a result of any interruption, transmission blackout, delayed transmission or incorrect data transmission over the Internet.

Avenue Capital Group does not warrant or represent that the website will meet your requirements, that access will not be interrupted or delayed, that there will be no failures, errors or omissions or loss of transmitted information, that no viruses will be transmitted or that no damage will occur to your computer system. We do not guarantee that this website will be compatible with all or any hardware and software which you may use. 

Your Responsibilities

You are responsible for undertaking suitable precautions to scan for computer viruses and maintaining a back up of all data and/or equipment.

By using this website, you agree that you will be responsible for maintaining the confidentiality of your password and account information, and that you will take all reasonable measures to maintain such confidentiality including without limitation restricting access to your computer to avoid disclosure of such. You further acknowledge and agree that you will be responsible for all activity taken under your password and/or account unless the provision of any such unauthorised use is due to our gross negligence.

Indemnity

You agree to indemnify, defend and hold harmless Avenue Capital Group, its parent, subsidiary and affiliated entities, and each of their respective owners, officers, directors, employees and agents from and against any and all claims, demands, losses, liabilities, damages, costs and expenses (including but not limited to attorneys fees) arising from or in connection with: (i) your use of the website and/or (ii) any violation of these Terms and Conditions. You agree that your representations and warranties, and your obligation to indemnify Avenue Capital Group, shall survive beyond any term that these Terms and Conditions are in effect.

Electronic Communications

When you communicate with Avenue Capital Group electronically, via email or otherwise, you consent to receive electronic communications from Avenue Capital Group. You agree that all communications (including, but not limited to all notices, agreements and disclosures) provided to you electronically by Avenue Capital Group satisfy any legal requirement that such communication be in writing. Avenue Capital Group encourages you to retain your own copies of relevant information, however, upon your request, Avenue Capital Group will provide you with hard copies of your relevant information. To make such a request, please contact websiteprivacy@avenuecapital.com.

Changes in Policy

From time to time, the provisions set forth in these Terms and Conditions of Use may change. We will post changes to the Terms and Conditions of Use on this website. Please review these Terms and Conditions of Use often so that you will remain abreast of our current terms and policies (see date at the top for latest version).

Acquisition of Business

In the event that Avenue Capital Group is involved in a merger, acquisition, consolidation, restructuring, reorganization, liquidation, sale or similar transaction relating to any portion of its business and/or assets, you hereby acknowledge and agree that this website, all data collected on this website, and all of Avenue Capital Group’s rights hereunder may be included in the assets of, and/or transferred pursuant to, such transaction. If that occurs, Avenue Capital Group will post a notice to such effect on this website and/or by any other media or contact method as may be required by applicable laws and regulations.

Governing Law

Use of this website and these Terms and Conditions of Use shall be governed by the laws of the State of New York of the United States of America, without regard to its conflict of law provisions. If any portion of these Terms and Conditions of Use are deemed unenforceable, unlawful or void by a Court of competent jurisdiction, then that portion of the Terms and Conditions of Use will be deemed severable and will not affect the enforceability or validity of the remaining portions of these Terms and Conditions of Use.

Any dispute concerning your use of this website shall be submitted to binding arbitration in New York within one (1) year from the date that the cause of action arose (or, if multiple cause of actions are involved, from the date that the first cause of action arose), with such arbitration conducted pursuant to the then prevailing rules of the American Arbitration Association. To the fullest extent permitted by law, no arbitration brought pursuant to these Terms and Conditions shall be joined to any other arbitration initiated pursuant to these Terms and Conditions.

Notwithstanding anything to the contrary set forth in these Terms and Conditions, Avenue Capital Group may at any time seek injunctive or other appropriate relief against you and/or against others, in any state or federal court in the state of New York or in any other court having jurisdiction, in the event that Avenue Capital Group believes that you have violated or threatened to violate any of Avenue Capital Group’s intellectual property rights and, in such case, you hereby consent to the exclusive jurisdiction and venue of such court.

In the event that any portion of these Terms and Conditions are deemed unenforceable, unlawful or void by a Court of competent jurisdiction, in any jurisdiction for any reason, including but not limited to the scope, duration or area of its applicability, unless narrowed by construction, such provision shall for purposes of such jurisdiction only, be construed as if such invalid, prohibited or unenforceable provision had been more narrowly drawn so as not to be invalid, prohibited or unenforceable (or if such language cannot be drawn narrowly enough, the court making any such determination shall have the power to modify, to the extent necessary to make such provision or provisions enforceable in such jurisdiction, such scope, duration or area or all of them, and such provision shall then be applicable in such modified form in such jurisdiction). If, notwithstanding the foregoing, any such provision would be held to be invalid, prohibited or unenforceable in any jurisdiction for any reason, such provision, as to such jurisdiction only, shall be ineffective to the extent of such invalidity, prohibition or unenforceability, without invalidating the remaining provisions. No narrowed construction, court-modification or invalidation of any provision shall affect the construction, validity or enforceability of such provision in any other jurisdiction. No waiver by Avenue Capital Group of any term or condition of these Terms and Conditions shall be deemed a further or continuing waiver of such term or condition or of any other term or condition, and Avenue Capital Group’s failure to assert any right or demand compliance with any provision of these Terms and Conditions shall not be deemed to constitute a waiver of any such right or provision.

Assignments and Third Party Rights

You are not permitted to assign, sub-contract or otherwise transfer your rights and/or obligations under these Terms and Conditions and related Privacy Policy.  We may freely assign, sub-contract or otherwise transfer our rights and/or obligations under these Terms and Conditions and related Privacy Policy.

These terms and conditions do not create or confer any rights or benefits enforceable by any person that is not a party (within the meaning of the U.K. Contracts (Rights of Third Parties) Act 1999) except:
a) Avenue Capital Group and its affiliates shall have the right to enforce any rights or benefits under these terms and conditions;
b) Avenue Capital Group and its affiliates shall have the right to enforce and take the benefit of the rights or benefits of any limitation or exclusion or limitation of liability in these terms and conditions;
c) a person who is a permitted successor or assignee of the rights or benefits of these terms and conditions may enforce such rights or benefits and no consent is required for Avenue Capital Group to vary or rescind these terms and conditions (whether or not in any way that varies or extinguishes rights or benefits in favour of such third parties).

Avenue Europe Management LLP

Avenue Europe Management LLP is incorporated as a Limited Liability Partnership in England and Wales under the partnership number OC307088. Avenue Europe Management LLP has its registered office at 1 Knightsbridge Green, 6th Floor, London, SW1X 7QA. For VAT purposes, Avenue Europe Management LLP is registered with VAT number 849 041421.

Avenue Europe Management LLP is authorised and regulated by the Financial Conduct Authority whose address is 12 Endeavour Square, London, E20 1JN. Further details on Avenue Europe Management LLP are available on the FCA Register. Avenue Europe Management LLP’s FCA firm reference number is 400442.

Copyright © 2007-2008 Avenue IP, LLC. All rights reserved

GL Advisors Hong Kong Limited

GL Advisors Hong Kong Limited, of Level 19F, Cheung Kong Center, 2 Queen’s Road Central, Central, Hong Kong, is an entity registered with the Hong Kong Securities and Futures Commission for Type 9 regulated activity under Central Entity Number BFK380. Contact number: 212-878-3500.

Avenue Asia Singapore Pte. Ltd.

Avenue Asia Singapore Pte. Ltd., of 12 Marina View #11-01 Asia Square Tower 2 Singapore 018961, is the holder of a Capital Markets Services Licence issued by the Monetary Authority of Singapore to conduct Fund Management activities, Licence # CMS101023. Contact number: 212-878-3500.

Avenue ME Advisors Ltd

Avenue ME Advisors Ltd, of Office Unit 1, Floor 6, Al Khatem Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates is the holder of Financial Services Permission to Conduct Regulated Activities, Prudential Category 4, to conduct the regulated activities of Arranging Deals in Investments and Advising on Investments or Credit, granted by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA), Financial Services Permission Number 190034. Contact number: 212-878-3500.

Privacy Policy

We are pleased that you have elected to visit our website.  Avenue Capital Management II, L.P., Avenue Europe International Management, L.P. and Avenue Asia Capital Management, L.P. (collectively, with their Affiliates (as such term is defined below), referred to in this Privacy Policy as “we,” “us” or “Avenue Capital Group”) are committed to safeguarding the private information entrusted to us by our clients, prospective clients, business partners and employees.  Avenue Capital Group has implemented this Privacy Policy to govern the use of personally identifiable information (“Personal Information”) that we collect via the Avenue Capital Group website or that clients, prospective clients, other business partners or employees send to Avenue Capital Group when communicating electronically with Avenue Capital Group or its designees via this website, email, file-transfer protocol or otherwise.  Furthermore, this Privacy Policy is incorporated by reference into the Terms and Conditions of Avenue Capital Group’s website.  Residents of the European Union, Cayman Islands and the State of California, United States of America should review the sections pertaining to each respective jurisdiction at the end of this Policy.

Our “Affiliates” are companies controlled or owned by us, or companies that control us, or are under common control with us.

COLLECTION AND USE OF PERSONAL INFORMATION

Information Collected

In the course of its business, Avenue Capital Group may collect personal data from public and non-public sources regarding clients, prospective clients, other business partners or employees.  Such Personal Information may include:

1) Information that an individual provides to Avenue Capital Group, including name, contact information (including mailing address, e-mail address and telephone numbers), financial information (including bank or brokerage account information and wire transfer instructions), information relating to sources of funds, government-issued identification numbers (including social security numbers, tax identification numbers and passport numbers) or citizenship status in connection with making an investment in a fund or account managed by Avenue Capital Group, in connection with employment with Avenue Capital Group, or otherwise in the course of doing business with Avenue Capital Group.

2) Information relating to a client’s investment in a fund or account managed by Avenue Capital Group, such as tax status, transaction-related information or capital account balances.

3) Information that Avenue Capital Group (or its third-party vendors or designees) collects about a client, prospective client, business partner or employee in connection with implementing its Anti-Money Laundering/”Know Your Customer” policy and related policies.  Such information may be collected through subscription documentation provided by the client, prospective client, or business partner, employment documentation, by a credit reporting agency or credit bureau, background check provider, fraud prevention organization or by a third-party due diligence vendor, which may aggregate such information from public or non-public sources.

4) Information that is automatically collected by Avenue Capital Group through this website (including “cookies,” which are described in “Use of Cookies” below), which can include date and time of access of the website, the Internet protocol address of the computer that an individual is using while accessing this website, the domain and host from which you access the Internet, your browser software and operating system, and the specific activities in which an individual is engaged while visiting this website.

5) Any other Personal Information that an individual may choose to share with Avenue Capital Group that either such individual or Avenue Capital Group deems necessary or desirable to share.

How Personal Information Is Used

We may use Personal Information that we obtain about an individual for the following purposes, subject to applicable law or regulation (including when an individual’s consent is required by applicable law):

1) In order to process an investment by an individual (or an entity affiliated with such individual), including establishing a capital account for the investor and conducting anti-money laundering and “know your customer” due diligence.

2) In order to communicate with clients, prospective clients or other business partners.

3) In order to effect financial transactions during the course of a business relationship between the individual and Avenue Capital Group (including processing fund distributions, redemptions or other returns of capital and capital calls).

4) In order to prepare and provide tax-related documentation.

5) In connection with the commencement, maintenance or termination of an individual’s employment.

6) In order to comply with regulatory requirements (including, potentially, disclosure of Personal Information to a governmental or regulatory authority in order to comply with Anti-Money Laundering or other related regulations promulgated by a jurisdiction) or complying with a prime broker, custodian, administrator, broker-dealer, other investment counterparty or third-party service provider or business partner’s due diligence or “Know Your Customer” requirements.

7) In connection with the expansion or growth of Avenue Capital Group’s business, including the creation and marketing of new funds or other investment products.

8) In connection with an audit or examination by a third-party auditor or regulatory authority, in connection with the prevention or investigation of potential fraud or other criminal activity or the mitigation of any liability or potential liability of Avenue Capital Group, in connection with security initiatives or the maintenance of Avenue Capital Group’s information technology systems or infrastructure, or to enforce any legal rights of Avenue Capital Group.

9) In order to fulfill any other legal or regulatory obligations of Avenue Capital Group or any fund or account managed by Avenue Capital Group.

10) In following any industry best practices in connection with the use of information.

11) To manage the website’s functionality (see “Use of Cookies” below).

In connection with the above uses of Personal Information set forth above, Avenue Capital Group may disclose such Personal Information to our Affiliates or to third-party vendors or service providers (including, without limitation, fund administrators or vendors that provide data processing, computer software maintenance and development, transaction processing, marketing services or human resources/payroll services, and companies providing professional, legal or accounting advice to Avenue Capital Group). 

To the extent Avenue Capital Group discloses Personal Information to a third-party vendor or service provider, in addition to any related requirements set forth in applicable law, Avenue Capital Group requires that these companies agree to (a) maintain the confidentiality of your Personal Information and (b) limit the use of such Personal Information to the purposes for which it was provided.  Furthermore, in compliance with applicable privacy laws we also provide our opt-out lists to non-affiliated third party companies so that they can be suppressed from the communications those companies send on Avenue Capital Group’s behalf. 

Finally, under limited circumstances, regardless of whether you have chosen to limit our sharing of your Personal Information, your Personal Information may be disclosed to non-affiliated third parties as either permitted by, or to comply with, applicable laws and regulations. For example, Avenue Capital Group may disclose your Personal Information to comply with investigations by regulatory authorities or enforcement agencies in the United States of America or elsewhere, or to protect against or prevent actual or potential fraud. Furthermore, Avenue Capital Group may disclose your Personal Information if it has a reasonable good faith basis to believe that it is required to do so by law, compelled by court order or legal process, or is reasonably necessary and/or appropriate to: (i) protect the rights, property and/or safety of Avenue Capital Group or any other person or entity; or (ii) prevent or take action concerning any alleged: (a) illegal activity or (b) breach of the Terms and Conditions of this website or Avenue Capital Group’s Privacy Policy.  Avenue Capital Group will use commercially reasonable efforts, to the extent required by applicable law, to include contractual provisions in the services agreements or other engagement documentation with any applicable third-party service providers or vendors that require such third-party service providers to process Personal Information in accordance with applicable law, to the extent they conduct such activities.  Residents of the European Union, Cayman Islands and State of California should review the succeeding sections of this Privacy Policy applicable to them for further information relating to privacy and data protection law in effect in their jurisdiction of residence.

Although Avenue Capital Group may track the number of visits to each of the pages of its website, no Personal Information is collected in the process.

Avenue Capital Group may also monitor or record telephone calls, video conferences or other electronic correspondence in order to comply with applicable legal or regulatory obligations or otherwise in connection with the operation of its business.

USE OF COOKIES

The website makes use of “cookies” - small data files which we may send to your computer on the basis of the information that we have collected about your visit. Cookies are stored in your computer’s browser or on your hard disk and can then be retrieved by the website. The website only uses so-called “session” cookies, which are deleted from your computer when you leave the website. Most web browsers can be set to prevent you from receiving new cookies, notify you before accepting cookies or disable cookies altogether.  Details about this can normally be found in the Help facility provided with your browser.

RETENTION AND SAFEGUARDING OF PERSONAL INFORMATION

Avenue Capital Group intends to retain Personal Information to the extent provided in its data retention policies or as otherwise permitted by applicable law in order to further legitimate business purposes.

To the extent any Personal Information is retained, Avenue Capital Group maintains reasonable standards of confidentiality and security for storage of Personal Information. Personal Information collected by Avenue Capital Group is secured using industry standard security technology.  Avenue Capital Group also restricts its own employees’ access to Personal Information.  However, it is possible that someone may intercept or access communications, transmissions and/or Personal Information.  In the event that Avenue Capital Group determines that there has been a security breach resulting in the unauthorized disclosure of Personal Information to a third party, Avenue Capital Group will promptly (or in compliance with any notification deadline required by applicable law) notify consumers whose Personal Information it reasonably believes has been compromised and, if email contact is possible, then also by sending an email advisory with respect to the situation.

If you access the website from a country with strict data protection laws you should be aware that, by interacting with the website, you may be sending information about yourself to Avenue Capital Group in the United States of America or other countries which do not have strict data protection laws.

NOTICE TO RESIDENTS OF THE UNITED KINGDOM, EUROPEAN UNION AND THE CAYMAN ISLANDS

Avenue Capital Group maintains policies and procedures in order to comply with the United Kingdom Data Protection Act 2018 and the European Union General Data Protection Regulation 2016/679 (collectively, “GDPR”) and the Data Protection Law, 2017 of the Cayman Islands (“Cayman Islands DPL”).  This section applies only to individuals who are residents of the United Kingdom, European Union or Cayman Islands.

GDPR and Cayman Islands DPL – Collection and Use of Personal Information

Avenue Capital Group collects and uses Personal Information as set forth in “Collection and Use of Personal Information” above for all clients, prospective clients, business partners and employees located within and without the United Kingdom, European Union or Cayman Islands.  Avenue Capital Group deems it to be reasonably necessary to collect such Personal Information in order to effectively operate its business or comply with applicable law.  For example, we must collect Personal Information in order to comply with international Anti-Money Laundering/”Know Your Customer” standards, to comply with other applicable law, as well as its own related internal policies and procedures.  Avenue Capital Group must also collect Personal Information in order to process financial transactions in connection with a fund or account managed by Avenue Capital Group, as well as to communicate with investors in such funds or accounts.  Avenue Capital Group must also collect and process Personal Information in connection with internal systems administration and internal risk assessments.  Finally, Avenue Capital Group must also collect Personal Information from employees in order to conduct standard due diligence on such employees and in connection with such employee’s compensation and tax obligations.  As such, Avenue Capital Group collects, uses and retains such Personal Information in furtherance of legitimate business purposes.

Avenue Capital Group may disclose such Personal Information to third parties as set forth in “How Personal Information is Used” above.  Such third parties may reside within and outside the United Kingdom (“UK”), European Economic Area (“EEA”) or Cayman Islands.  When transferring Personal Information from within the UK or EEA to outside the UK or EEA, Avenue Capital Group complies with GDPR and other applicable law by using Standard Contractual Clauses (as promulgated by the European Commission and permitted by the United Kingdom) or by adopting other means reasonably expected to ensure that adequate safeguards are applied in compliance with GDPR standards.  When transferring Personal Information from within the Cayman Islands to outside the Cayman Islands, we adopt means reasonably expected to ensure that adequate safeguards are applied in compliance with Cayman Islands DPL standards.

Safeguarding of Personal Information

Avenue Capital Group maintains established internal policies and procedures as well as physical and electronic safeguards that comply with applicable law, as well as industry standards, to safeguard access to Personal Information in our possession from accidental or unlawful destruction, loss, alteration, unauthorized use or disclosure.  We endeavor to limit access to Personal Information about you to those employees, agents and other authorized parties who need to know the information to enable Avenue Capital Group to provide products or services to you.

Retention of Personal Information

Personal Information stored by Avenue Capital Group is generally retained for a period of ten years from (a) the date the data record was created or (b) a particular trigger event depending on the type of data record containing the Personal Information.  Examples of trigger events are (i) the tax filing year in which an invoice for services received is paid, (ii) date of contract expiration or termination, and (iii) account closure or fund dissolution date.

Rights of Individuals Residing in the United Kingdom, European Union or Cayman Islands

To the extent set forth in GDPR or the Cayman Islands DPL, you may have certain rights relating to the collection and use of your Personal Information, including the right to (i) request a copy of the Personal Information retained by Avenue Capital Group and to correct any inaccurate information contain within; (ii) delete any Personal Information retained by Avenue Capital Group; (iii) limit the processing of Personal Information retained by Avenue Capital Group, including the purposes for which Personal Information is processed by or on behalf of Avenue Capital Group; (iv) direct the transfer of your Personal Information to a third party designated by you and (v) be notified of a breach of the security of your Personal Information within the timeframe set forth by GDPR or the Cayman Islands DPL, as applicable.  Residents of the United Kingdom, European Union or Cayman Islands may also “opt out” or unsubscribe from any marketing communications from Avenue Capital Group.  The above rights are subject to any limitations or exceptions set forth in GDPR or Cayman Islands DPL, as applicable.  An individual may contact Avenue Capital Group’s Representative Agent at the contact information set forth below if he or she wishes to exercise any of the rights set forth herein.  Furthermore, an individual may contact the data protection regulatory authority located in his or her country of residence, or to the extent the individual resides in the Cayman Islands, the Cayman Islands ombudsman, to lodge a complaint about the collection, use or processing of Personal Information by Avenue Capital Group.

Avenue Capital Group has designated Stuart Holcombe as Data Protection Officer in compliance with Article 37 of GDPR. 

Mr. Holcombe’s contact details are as follows:

Avenue Capital Group
1 Knightsbridge Green, 6th Floor
London, SW1X 7QA United Kingdom
Telephone: +44 207 245 1885
E-mail: websiteprivacy@avenuecapital.com

NOTICE TO RESIDENTS OF THE STATE OF CALIFORNIA

A resident of the State of California who has provided Personal Information to Avenue Capital Group, or regarding whom Avenue Capital Group has collected Personal Information, may have rights under the California Consumer Privacy Act of 2018 (“CCPA”), effective January 1, 2020.  This section applies only to individuals who are residents of the State of California, United States of America.

CCPA – Collection and Use of Personal Information

Avenue Capital Group collects and uses Personal Information as set forth in “Collection and Use of Personal Information” above for all clients, prospective clients, business partners and employees located within and without the State of California.  Avenue Capital Group deems it to be reasonably necessary to collect such Personal Information in order to effectively operate its business or comply with applicable law.  For example, we must collect Personal Information in order to comply with international Anti-Money Laundering/”Know Your Customer” standards, to comply with other applicable law, as well as its own related internal policies and procedures.  Avenue Capital Group must also collect Personal Information in order to process financial transactions in connection with a fund or account managed by Avenue Capital Group, as well as to communicate with investors in such funds or accounts.  Avenue Capital Group must also collect and process Personal Information in connection with internal systems administration and internal risk assessments.  Finally, Avenue Capital Group must also collect Personal Information from employees in order to conduct standard due diligence on such employees and in connection with such employee’s compensation and tax obligations.  As such, Avenue Capital Group collects, uses and retains such Personal Information in furtherance of legitimate business purposes.

Avenue Capital Group may disclose such Personal Information to third parties as set forth in “How Personal Information is Used” above.  Such third parties may reside within and outside the State of California.

Safeguarding of Personal Information

Avenue Capital Group maintains established internal policies and procedures as well as physical and electronic safeguards that comply with applicable law, as well as industry standards, to safeguard access to Personal Information in our possession from accidental or unlawful destruction, loss, alteration, unauthorized use or disclosure.  We endeavor to limit access to Personal Information about you to those employees, agents and other authorized parties who need to know the information to enable Avenue Capital Group to provide products or services to you.

Retention of Personal Information

Personal Information stored by Avenue Capital Group is generally retained for a period of ten years from (a) the date the data record was created or (b) a particular trigger event depending on the type of data record containing the Personal Information.  Examples of trigger events are (i) the tax filing year in which an invoice for services received is paid, (ii) date of contract expiration or termination, and (iii) account closure or fund dissolution date.

Rights of Individuals Residing in the State of California

To the extent set forth in the CCPA, you may have certain rights relating to the collection and use of your Personal Information, including the right to (i) request specific and detailed information regarding the exact types of Personal Information collected and retained by Avenue Capital Group and specific and detailed information regarding the uses of such Personal Information and the third-parties to whom such Personal Information has been shared; (ii) delete any Personal Information retained by Avenue Capital Group; (iii) be notified of a breach of the security of your Personal Information within the timeframe set forth by the CCPA; (iv) correct inaccurate personal information that Avenue Capital Group has about you;  (v) limit the use and disclosure of “sensitive personal information” (as defined in the CCPA) collected about you; (vi) the right to access and opt-out of information about automated decision making; and (vii) the right to ask organizations to transmit specific pieces of information to another entity, if technically feasible for the organization. The above rights are subject to any limitations or exceptions set forth in the CCPA, as amended.  An individual may contact Avenue Capital Group’s California Privacy Rights Administrator at the contact information set forth below if he or she wishes to exercise any of the rights set forth above. 

Avenue Capital Group
11 West 42nd Street, 9th Floor
New York, New York 10036 United States of America
Attn: California Privacy Rights Administrator
Electronic Mail Address: californiaprivacy@avenuecapital.com

Sale of Personal Information

Avenue Capital Group does not sell to any third party, and as of the date of this Privacy Policy does not intend to sell to any third party, any Personal Information of any individual retained by or on behalf of Avenue Capital Group.  Avenue Capital Group endeavors to notify all residents of the State of California about whom it retains Personal Information in the event that it intends to sell such Personal Information to a third party.  Such notice will contain information regarding a California resident’s rights under the CCPA with respect to the sale of such resident’s Personal Information and be delivered to such individuals within a reasonable period of time to allow such individuals to exercise any such rights.

REPRESENTATIVE AGENT

To the extent you have any questions about this Privacy Policy, to request any information about the collection, use or retention of your Personal Information, or to exercise any rights you may have as a resident of an applicable jurisdiction, please contact our Representative Agent at the contact information below:

Representative Agent: Andrew Schinder
Address: Avenue Capital Group
11 West 42nd Street, 9th Floor
New York, New York 10036 United States of America
Telephone number: 212-878-3520
Electronic Mail Address: websiteprivacy@avenuecapital.com

USE OF THIS WEBSITE

This website is operated by, or on behalf of, Avenue Capital Group. Not all products and services listed on this website are available in all geographic areas. To the extent that access, distribution and/or use of this website would be deemed illegal by applicable law, such access, distribution and/or use of this website is prohibited.

LINKS TO OTHER WEBSITES

From time to time, the Avenue Capital Group website may contain links to other websites that are not controlled and/or maintained by Avenue Capital Group. Please be aware that these other websites may have different privacy policies which may subject you to different privacy practices. Please review the privacy policies of such other websites for information concerning what information is collected on such websites and how it is used.

CHANGES IN POLICY

This Privacy Policy applies to current and former Avenue Capital Group consumer customers, and in certain circumstances, to individual representatives of institutional customers. From time to time, Avenue Capital Group's Privacy Policy may change. Avenue Capital Group will post changes to the Privacy Policy on this website. Please review this Privacy Policy often so that you will remain abreast of Avenue Capital Group's current policies, including its policies concerning the gathering and use of information that may be collected on our website. You are responsible for making sure you are aware of the provisions of Avenue Capital Group’s most current Privacy Policy.  This Privacy Policy was last updated in March 2023.

GOVERNING LAW

This Privacy Policy shall be governed by the laws of the State of New York of the United States of America, without regard to its conflict of law provisions. Any dispute concerning this Privacy Policy or your use of this website shall be submitted to binding arbitration in New York within one (1) year from the date that the cause of action arose (or, if multiple cause of actions are involved, from the date that the first cause of action arose), with such arbitration conducted pursuant to the then prevailing rules of the American Arbitration Association. To the fullest extent permitted by law, no arbitration brought pursuant hereto shall be joined to any other action or any other arbitration initiated pursuant hereto. In the event that any portion of this Privacy Policy is deemed unenforceable, unlawful or void by a Court of competent jurisdiction, in any jurisdiction for any reason because of the scope, duration or area of its applicability or for other reasons, unless narrowed by construction, such provision shall for purposes of such jurisdiction only, be construed as if such invalid, prohibited or unenforceable provision had been more narrowly drawn so as not to be invalid, prohibited or unenforceable (or if such language cannot be drawn narrowly enough, the court making any such determination shall have the power to modify, to the extent necessary to make such provision or provisions enforceable in such jurisdiction, such scope, duration or area or all of them, and such provision shall then be applicable in such modified form). If, notwithstanding the foregoing, any such provision would be held to be invalid, prohibited or unenforceable in any jurisdiction for any reason, such provision, as to such jurisdiction only, shall be ineffective to the extent of such invalidity, prohibition or unenforceability, without invalidating the remaining provisions. No narrowed construction, court-modification or invalidation of any provision shall affect the construction, validity or enforceability of such provision in any other jurisdiction. No waiver by Avenue Capital Group of any provision of this Privacy Policy shall be deemed a further or continuing waiver of such provision, and Avenue Capital Group’s failure to assert any right or demand compliance with any provision of this Privacy Policy shall not be deemed to constitute a waiver of any such right or provision. Furthermore, if any portion of this Privacy Policy is deemed unenforceable, unlawful or void by a Court of competent jurisdiction, then that portion of the Privacy Policy will be deemed severable and will not affect the enforceability or validity of the remaining portions of this Privacy Policy.

CONTACT US

If you have any questions concerning this Privacy Policy (other than with respect to California Privacy rights), you may contact us at websiteprivacy@avenuecapital.com or write to us at:

Avenue Capital Group
11 West 42nd Street, 9th Floor
New York, New York 10036 United States of America
Attn: Privacy Administrator
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