Excerpts: JPMorgan Called Tribune Debt Distressed Prior to New Loans JPMorgan Chase & Co. lowered its internal rating on Tribune Co.’s debt, labeling it distressed months before arranging new loans that funded the newspaper publisher’s 2007 buyout, e-mails made public in court show. Miriam Kulnis, a manager in JPMorgan’s distressed-debt unit, said in court testimony […]
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Excerpt: Steve Baronoff to Lead Merrill’s M&A Team Again Bank of America Merrill Lynch will again hand the reins of its mergers and acquisitions group to Steven Baronoff as the team’s current head, Jeffrey Kaplan, will leave to join the hedge fund Appaloosa Management, the firm said in an internal memorandum obtained by DealBook. Mr.
Excerpt: $180 Million Is Not Chump Change For instance David Hiller, CEO of the Los Angeles Times before he left the company in July of 2008, got $3,972,558 in a deferred bonus, $2,328,067 for his stock, $2,083,333 in phantom equity, a total of $3,050,523 in excise tax gross ups, and $3,960,000 in executive transition. That
Excerpt: Creditors sue to get money back from Tribune Co. executives, managers Some of the 200 are former senior executives, like Dennis FitzSimons, who left the company as chairman and chief executive with tens of millions of dollars and who, as an architect of the deal, might have expected to become the focus of litigation.
Tribune Lenders Sue JPMorgan Claiming Buyout Was Fraud
Excerpts: Tribune Lenders Sue JPMorgan Claiming Buyout Was Fraud When they pushed to close the two-stage transaction, the banks knew the $3.7 billion in financing “was tainted with fraud and other misconduct,” the lenders, who include hedge funds and investors who specialize in distressed debt, said in a complaint filed today in New York state
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Barclays Capital: European Credit Alpha
Barclays Capital: European Credit Alpha Strategic Market View: There and back again. Driven by mixed signals from the economic and political front credit spreads see-sawed this week before finally ending up where they started. Risk aversion remains, but largely driven by macroeconomic uncertainties, while strong corporate fundamentals should provide spreads with a buffer if future
Excerpts: John D. Langlois Jr. ’64 *74 Jack Langlois died Aug. 19, 2010, after a lengthy battle with gallbladder cancer. He was truly a Princetonian in the world’s service. In 1982, he transitioned from academia to join Morgan Guaranty Trust. With his knowledge of Asian culture and languages, he rapidly became one of America’s preeminent
Excerpt: Morgan Stanley Property Fund Faces $5.4 Billion Loss Morgan Stanley has told investors in its $8.8 billion real-estate fund that it may lose nearly two-thirds of its money from bum property investments, according to fund documents reviewed by The Wall Street Journal. That would likely make it the biggest dollar loss—$5.4 billion—in the history
Morgan Stanley Property Fund Faces $5.4 Billion Loss
Excerpts: Morgan Stanley Property Fund Faces $5.4 Billion Loss Morgan Stanley has told investors in its $8.8 billion real-estate fund that it may lose nearly two-thirds of its money from bum property investments, according to fund documents reviewed by The Wall Street Journal. That would likely make it the biggest dollar loss–$5.4 billion–in the history
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Excerpt: GT Group Telecom’s Form F-1. Leo J. Hindery, Jr. Mr. Hindery has been a director since March 23, 2000. Mr. Hindery is currently chairman and chief executive officer of GlobalCenter Inc., the Internet commerce services subsidiary of Global Crossing (from March 2000 until October 2000, he was also, on an interim basis, chief executive