Repayment of Certain Obligation pursuant to Limited Partnership Agreement.
As of June 15, 2022, Lamington’s cash balance was $18,291,032. Pursuant to a resolution unanimously adopted on April 5, 2022, the Lamington Board increased the Minimum Cash Balance from $4,000,000 to $4,000,000 plus the amount necessary to repay certain amounts arising pursuant to the Amended and Restated Agreement of Limited Partnership (the “LPA”) of White Eagle Asset Portfolio, LP (the “Partnership”) in full. On July 14, 2022, the LPA of the Partnership was amended to permit repayment of those obligations (the “Second Amended and Restated LPA”).

As permitted by the Second Amended and Restated LPA, on July 15, 2022, Lamington repaid in full certain debts owed by Lamington to the Partnership in the amount of $10,927,797.03. These debts were classified as the Class D Interest arising in connection with the White Eagle Asset Portfolio, LP bankruptcy proceeding in 2019.

Lamington Road DAC – Unaudited Financial Statements May 31 2022.pdf