The Distressed Debt Report - May 13, 2008

Vendors Take More Active Role in Restructurings

Foreign investors are taking an active interest in the U.S. distressed-asset market, as the devaluation of the dollar presents possible bargains.

Some market sources say that foreign investors' interest has filtered down in recent months to the middle markets.

Seized Capital Markets Throw Wrench into Subordinated Strategy

The implosion in April of Indianapolis-based shopping center developer Premier Properties USA marks one of the few early storms involving mezzanine lenders to hit commercial real estate outside of the long-struggling condominium sector. Property experts anticipate many more tempests coming soon. Full Story

Hillside May Take Control of Grammy-Winning Firm

Ampex Corp., a pioneering developer of recording equipment, need not have filed for bankruptcy protection because it either had the cash or could have easily raised it to both pay off debt and fund operations, according to ValueVest, Ampex's largest shareholder.

• Guggenheim Takes Ownership of Lionel Through Bankruptcy
• U.S. Attorney's Initial Findings on Le-Nature's May Clear Wachovia
• Babson Acquires Distressed Manager
• Browndorf to Launch New Distressed Fund
• Metal Company Tarpon Industries Files for Bankruptcy
• Diamond Glass Approved for Bankruptcy Auction
• Commercial Paper Manager Ceres Files Prepackaged Chapter 11
• GoldenTree Pursues Answers in Axium Fraud Case
• D.B. Zwirn Wins Round in Radio Station Dispute
• Lawsuit Against Stanfield Capital Dismissed For Now
• CIT Prices $1.5B Common and Preferred Stock Offering
• Rafael Klotz Joins Gordon Brothers
• Morrison & Foerster Adds Five Bankruptcy Attorneys
• Alvarez & Marsal Hires Barton, Wolf