Desperate times call for desperate measures. That is especially the case when the owners of a highly leveraged company are facing its date with destiny.
And often the outcome is what is called “lender-on-lender violence”, where debt financiers turn on each other, or worse, they find new lenders have arrived on the scene to subordinate them.
Loading...
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
