Creditors
topic on 3 shows · 7 statements across 6 episodes
We Live to Build 
Capital Allocators 
All-In
7 statements about Creditors, every show
Lewinsohn: Creditor cooperative agreements surged in popularity over the last 18 months
“One thing you're seeing is co-ops, which are cooperative agreements between creditors to say, we're not going to do a deal with the company alone, neither should you, have really come into vogue over the last 18 months.”
Calacanis: Janet Yellen will bail out commercial real estate creditors
“Janet Yellen's just gonna bail these folks out. I mean, she won't bail out the banks themselves, but she'll bail out the creditors, obviously, the people holding the bag.”
Friedman: Distressed investing is value creation rather than a zero-sum game
“I don't necessarily see it as a zero sum game at all. I look at it as us and our colleagues against the house, if you want to think of it that way. And sometimes there's an equity holder who's trying to steal stuff that should belong to the creditors at this p…”
Milgram: Middle-market companies typically have only 12 to 18 creditors
“A typical creditor group in a middle market company, be 1215, maybe 18 creditors, as opposed to 50 or a hundred in a large name, they have less flexible capital structure.”
Milgram: Passive creditors risk losing as much value to restructuring as fundamental decay
“And as a consequence, you could see the reorganization process, if you are not an actively engaged creditor, destroy as much value as the underlying fundamentals are destroying. And so you cannot be a passive participant in a reorganization.”
Caesars restructuring centered on fraudulent conveyance accusations over property transfers
“The mass tort in the case of Caesars is the accusation of fraudulent conveyance in these transactions where many of the top properties of the Caesars opco ended up in these affiliated entities where Apollo owned them, and they were out of the hands of Creditor…”
Rice: Creditors negotiate with distressed debtors because liquidation yields zero recovery
“So a lot of times you'll see creditors who will negotiate with the debtor in order to try to reconcile and create an opportunity for that company to stay in business because if someone's owed millions of dollars, That business going into bankruptcy and shuttin…”