to invest $50 million in Criimi Mae, the real estate investment trust that filed for bankruptcy protection almost a year ago.

The agreement, subject to approval by Criimi's board of directors, is part of a $910 million reorganization plan that would enable the company to emerge from Chapter 11 status.

Criimi invested in riskier, lower-rated tranches of commercial mortgage securitizations. During last year's liquidity crisis, margin calls forced it into bankruptcy.

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