Should a senior tranche default, the insurer has the right to step in and make the missing interest payments to forestall a liquidation.

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The flow-through gain would have pumped up the basis in the partnership interest resulting in a capital loss on liquidation.

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If there is an insolvency, it would be in the public's best interest to allow the insurance entities to continue, however it will require a restructuring and even liquidation of the other assets within AIG's portfolio.

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Two companies have expressed an interest in running a music festival in Surrey in 2013 after the company which ran Guilfest went into liquidation.

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Conversely, Gero said, declining open interest at a time of declining prices is a clue that much of the selling is in the form of liquidation by longs who no longer want to own gold.

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