Incora Decision Shows How Tiniest Details Can Undo Major Deals
The unraveling of a rescue financing sends a harsh message to distressed-debt specialists
Pacific Investment Management Co. (Pimco) headquarters in Newport Beach, California, US, on Tuesday, June 6, 2023.
Photographer: David Swanson/BloombergWelcome to The Brink. It’s Jonathan Randles and Jill Shah in New York along with Steve Church in Delaware, where we’re looking at the implications of a closely watched restructuring trial. We also have the latest on Thames Water and AC Milan. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net.
The courtroom unraveling of a 2022 rescue financing for a Platinum Equity-backed aerospace parts supplier has sent a warning to the world’s leading distressed-debt specialists: get the details right, or risk losing big.