The Group's principal activity is to acquire Portfolio Assets at a discount to Face Value and servicing and resolving such Portfolios to maximize the present value of the ultimate cash recoveries. The Portfolio Assets are generally non-homogeneous assets, including loans of varying qualities that are unsecured or secured by diverse collateral types and real estate. These Portfolio Assets are either acquired for the account of a subsidiary of FirstCity or through the Acquisition Partnerships. The Group operates in Europe and Central and South America. In Sep 2008, the Group acquired UBN, SA.
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