Companies Exiting Bankruptcy Up for Grabs


As the economy recovers, many companies are exiting bankruptcy. Some of these companies have been bought over by hedge funds (partly or entirely) who are now keen in making some ROI. Hedge funds like Paulson & Co, Avenue Capital and Silver Point Capital bought over control of many bankrupt companies and are now seeking to sell them at a profit.

This means many companies are expected to come to the market soon, according to investment bankers. The companies come from a wide range of industries like the auto, media, chemicals and technology industries.

Recently emerged from bankruptcy, Delphi Corp, with Silver Point and Elliott Management among its owners, is planning an initial public offering. Auto parts supplier Cooper Standard, exited bankruptcy in May 2010 under the control of hedge funds including Silver Point and Oak Hill Advisors. It is now shopping itself. Others that will follow suit in the next one or two years are Dura Automotive, in which Patriarch Partners has a majority stake, and Lear Corp, owned partly by Goldman Sachs.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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