The Distressed Debt Report - February 12, 2008

In Worried Market, Investors Seeking Hard Collateral

The seized-up credit markets are bringing a resurgence of asset-based lending, as investors seek more protection than they can get from the until-recently popular cash-flow-based loans. Full Story

Distressed Credit Market Attracts Real Estate Investors

Sale-leaseback specialists are looking for a boom year in 2008, as corporate borrowers locked out of the public debt and equity markets search for new ways to raise capital. Full Story

Equity Protected by Bankruptcy Code, Firm Argues

Maxxam Group, a Houston investment manager controlled by Charles Hurwitz, argued in a Jan. 29 bankruptcy court filing that no reorganization plan should be approved for Scotia Pacific that eliminates Maxxam's ownership position in the venerable timber company. Full Story

• BofA, GE, Highland Fighting Claims of Fedders' Unsecureds
• Kohlberg Brings First CLO of 2008
• Movie Gallery's Disclosure Statement Approved
• Former U.S. Trustee Martini Joins Wachovia
• Jefferies Reducing Hedge Fund Investments
• SageCrest Settles with Art Capital
• IPO Cancelled for Green Business BDC
• The Dimming of FirstLight
• BofA Says It Will Remain in CLO Market