Shares in Carlyle Capital Corp fell more than 70 percent on Tuesday after trading resumed following their suspension last week.
Shares in the affiliate of private equity firm Carlyle Group were suspended by Dutch regulator AFM last week after it lost more than half of its value when it warned its cash could run out.
Carlyle Capital, or CCC, said late on Monday it has had "constructive" talks with its lenders as it seeks a standstill agreement.
"Although the company has not received executed standstill agreements from its lenders, the company remains in active discussions with lenders who hold approximately $16 billion in securities," it said, adding that discussions "progressed throughout the day in a constructive manner."
It said it believed certain lenders may have liquidated collateral securing $700 million more of Carlyle Capital's debt, bringing the total to around $5.7 billion.
CCC said last week its lenders had significantly reduced the amount they were willing to lend against the company's portfolio of U.S. government agency AAA-rated residential mortgage-backed securities due to recent turmoil in that market.
Carlyle Capital, 15 percent owned by the private equity group's managers, said no creditors or shareholders have taken legal action against it.