Wed, Jan 18, 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. Southpoint Capital gains 3.8% in Q3, bringing year-to-date returns to 5.2%[more]

    From Valuewalk.com: Southpoint Capital Advisors, the $3 billion New York hedge fund founded by former employees of David Einhorn’s Greenlight Capital, added 3.8% net during the third quarter of 2016, bringing year-to-date returns to 5.2% and cumulative returns since inception (July 2004) of 237.4% a

  2. The Big Picture: The case for emerging market debt in 2017[more]

    Benedicte Gravrand, Opalesque Geneva: Emerging market (EM) assets outperformed in 2016 mainly because of stronger fundamentals and an improving international environment, with GDP picking up speed, leading to positive earnings revisions for the first time in five years,

  3. Short Selling - Long-short hedge funds are ditching the shorts to focus on longs[more]

    From Bloomberg.com: What happens when you take the "short" out of a long-short trading strategy? Some hedge funds are about to find out. Equity long-short fund managers, the biggest category in hedge funds, hold the fewest bearish stock bets on record, data compiled by Credit Suisse Group AG s

  4. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  5. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee