Sun, Jun 25, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Distressed investors call for more transparency from companies - WSJ

Monday, January 06, 2014

Komfie Manalo, Opalesque Asia:

Distressed debt investors, including bondholders and other creditors of companies close to bankruptcy are calling for transparency and asking troubled firms to disclose information after talks stall or stop.

In a report, The Wall Street Journal says such investors are pushing for transparency with the aim at minimizing accusations they are using inside information.

Hedge funds and distressed debt investors are prohibited from trading while confidential talks with distressed firms are ongoing, to ensure they will not be using private financial information they can gather during the negotiations, says the Journal. But they could trade after the talks end if company information is released. The Journal cites Oleo e Gas Participacios SA, then know as OGX, which released a 90-page pack of company information 36 hours before filing for bankruptcy.

"The nondisclosure agreements are now much more heavily negotiated than they were in the past in order to cover the waterfront...so that the investment firms can be certain that they're able to trade at the end of the periods," Damian Schaible, a lawyer in Davis Polk & Wardwell LLP's insolvency and restructuring group, told the Journal. "That's the new world but that is so radically different from the way it used to be."

ON a separate note, the ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Legal - Bond market concerns could scuttle Paulson's Fannie-Freddie plan[more]

    From Bloomberg.com: A hedge fund proposal for freeing Fannie Mae and Freddie Mac from U.S. control is poised to face stiff opposition from investors who say it risks wrecking the mortgage-bond market. The Moelis & Co. blueprint, which firms including Paulson & Co. and Blackstone Group LP sponsored,

  2. Other Voices: Are your pricing policies and procedures for less liquid instruments adequate?[more]

    Komfie Manalo, Opalesque Asia: The unrelated position mismarking incidents that quickly precipitated the closures of both Visium Asset Management and Marinus Capital have been recent focal points for market participants, but regulatory scrutiny of valuation choices for less liquid instruments is

  3. FinTech - AI hedge fund Numerai now live on Ethereum, Cryptocurrency hedge funds generate huge returns as bitcoin surges[more]

    AI hedge fund Numerai now live on Ethereum From Cryptoninjas.net: Back in February, Numerai announced numeraire (NMR), a cryptographic token to incentivize a new kind of hedge fund built by a network of data scientists. Earlier today, the Numeraire smart contract was officially deployed

  4. Investing - Advisors slash hedge fund positions, Theravance Biopharma is a top pick of investment guru Seth Klarman, As asset management industry grows a search for new revenue streams[more]

    Advisors slash hedge fund positions From Barrons.com: Financial advisors have cut wealthy clients' exposure to hedge funds by up to one third over the past 12 months, The Financial Times reports. Advisor firms in the FT's annual top-300 ranking have reduced their hedge fund allocation to

  5. Barclay Hedge Fund index gains 0.50% in May, 4.13% YTD[more]

    Hedge funds gained 0.50% in May according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 4.13% in 2017. The Barclay Hedge Fund Index has now been profitable for seven months in a row, with a cumulative gain of 6.10%. The Barclay Technology Index has gained 12.27% in the fi