Value Investing News

Last week we attended the Ira Sohn Research Conference where some of the best hedge fund managers in the world pitched some amazing investment ideas. For those that were not following, I was updating readers in real time on Twitter (@DDInvesting) trying to get information out as fast as...

Over the last few years, we've seen a number of cases run parallel plans in bankruptcy - sometimes contentiously between creditors trying to argue they are the fulcrum and sometimes for legitimate business reasons. Distressed Debt Investing contributor George Mesires of...

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Before we get to the post: Ira Sohn thoughts/commentary will be posted over the weekend. In the meantime, Jay at MarketFolly has a comprehensive set of notes up. I wrote this on my Twitter feed: John Paulson's idea of the CVI contingent value securities was the most compelling - I'm still doing my...

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Yesterday, May 14th, 2012, Rescap filed for bankruptcy in the Southern District of New York (Case No. 12-12020). The Honorable Judge Martin Glenn will be overseeing the proceedings. Currently the markets on Rescap look like this:

Recovery: 22-23.5
CDS: 76.5-77.5
9.625% Bonds: 95-96
Senior...

We want to give readers an update on our post last week on the 2012 Ira Sohn Conference.  The conference is tomorrow and there is still time to register.  This is an amazing cause. I hope you all consider attending. Here is the link to the conference registration.

A quick update:...

Editor Note: I will be writing a post on Ally / Rescap tomorrow, Tuesday the 15th after the Ally call. At the end of the day, the 3rd lien 9.625% went out 94-95, down 4-5 points. I will also be writing a post this week, in a new template, for Houghton Mifflin.

Today, LightSquared Inc....

Today, Howard Marks and other executives from Oak Capital held their first conference call since going public a few weeks ago. Much has been talked about the company since its IPO including a number of prominent funds disclosing ownership in the name including the Davis Funds, Maverick Capital,...

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Here's what we are reading this weekend at Distressed Debt Investing

A new blog I found this week: The Brooklyn Investor: Very sharp, and impressive commentary, and a recent post on a negative stub value trade at HRG [The Brooklyn Investor]

David Einhorn is getting long Howard Marks [Market...

On May 16th, the Ira Sohn Conference Foundation will hold its 17th annual Investment Conference with (as usual) an amazing list of speakers including:

Bill Ackman - Pershing Square
Dwight Anderson - Ospraie Management
Dan Ariely - Author of Predictably Irrational
David Einhorn - Greenlight...

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Yesterday it was announced that Microsoft would make a strategic investment in Barnes and Noble's digital and college assets as part of Newco subsidiary. MSFT's $300M investment, for 17.6% of the entity, would value Newco as $1.7B, meaning BKS' stake would be worth $1.4B.  Prior to the...

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On April 13th, Chicago Booth held its 7th Annual Distressed Investing and Restructuring Conference. The organizers of the event have graciously provided us extensive notes for the conference which we've laid out below. I heard it was an amazing event from many readers.  Enjoy!

Opening...

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On April 23rd, the Supreme Court (SCOTUS) heard oral arguments on the issue of credit bidding that has been discussed on Distressed Debt Investing a number of times: Credit Bidding and the Supreme Court and Advanced Distressed Debt Lessons: Credit Bidding. Credit bidding is relevant to...

In the beginning of April, Pinnacle Airlines (PNCLQ or the Company) filed for bankruptcy protection in SDNY.  You can find the docket here: Pinnacle Airlines Bankruptcy Docket. This afternoon, Nantahala Capital and Hudson Bay Capital Management, who collectively own approximately 2.5M shares...

On April 5th, 2012, President Obama signed the Jumpstart Our Business Startups (JOBS) Act into law. In my opinion, this may be one of the most important pieces of legislation enacted in the past 20 years. And investors of all sorts: angels, value, distressed, etc., should be paying attention.

It...

Today, Reddy Ice (RDDY or  "the Company") filed for bankruptcy in the Northern District of Texas (Dallas).  It was revealed in the press release that the company had secured a $70M DIP and $50M in exit financing with a plan supported by "the majority of the principal amount of First...

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