The Art of Vulture Investing : Adventures in Distressed Securities Management.
Title:
The Art of Vulture Investing : Adventures in Distressed Securities Management.
Author:
Schultze, George.
ISBN:
9781118220993
Personal Author:
Edition:
1st ed.
Physical Description:
1 online resource (219 pages)
Series:
Wiley Finance Ser. ; v.609
Wiley Finance Ser.
Contents:
The Art of Vulture Investing -- Contents -- Foreword -- Acknowledgments -- Preface -- CHAPTER 1 Emerging from the Egg -- CHAPTER 2 Learning to Scavenge -- CHAPTER 3 Looking for Prey -- CHAPTER 4 Waiting On a Limb -- CHAPTER 5 Swooping In: Tropicana -- CHAPTER 6 Fighting Over the Carcass: Chrysler -- CHAPTER 7 Digesting the Remains -- CHAPTER 8 A Vulture's Philosophy -- APPENDIX 1 Net Operating Loss Carry Forwards -- APPENDIX 2 Copy of Continued Objection by Ad Hoc Committee of Washington Group Class 7 Claim Holders -- PRELIMINARY STATEMENT -- CONTINUED OPPOSITION TO RELIEF REQUESTED -- A. The RCB Constitutes The "Highest And Best" Offer To Maximize Value Of The Remaining Warrants In The Class 7 Warrant Package -- B. The Term Sheet Fails To Provide Class 7 Claimants With The Benefit Of Their Bargain Under The Plan -- C. The Court Should Deny Any Break-Up Fee And Expense Reimbursement Requested By WGI -- REVISED COUNTER-BID SUBMITTED BY THE AD HOC COMMITTEE -- CONCLUSION -- APPENDIX 3 Letter to Washington Group's Board of Directors -- APPENDIX 4 Shareholder Complaint against Winn-Dixie Board et al. -- INTRODUCTION -- JURISDICTION AND VENUE -- PARTIES -- THE FIDUCIARY DUTIES OF THE INDIVIDUAL DEFENDANTS -- CLASS ACTION ALLEGATIONS -- SUBSTANTIVE ALLEGATIONS -- Background of the Company -- The Proposed Transaction -- The Fundamentally Unfair Process Does Not Maximize Shareholder Value -- Change-of-Control Payments to Certain of the Company's Officers and Directors -- The Proposed Transaction Is Inherently Flawed as a Result of Conflicts of Interest -- The Board Agreed to Unreasonable Deal Protection Provisions in the Merger Agreement -- FIRST CAUSE OF ACTION -- Willful, Reckless and Wanton Breach of Fiduciary Duty (Against the Individual Defendants) -- SECOND CAUSE OF ACTION.
Aiding and Abetting the Individual Defendants' Breach of Fiduciary Duty (Against the BI-LO Defendants) -- PRAYER FOR RELIEF -- DEMAND FOR JURY TRIAL -- APPENDIX 5 Objection by Schultze Asset Management to Owens Corning Disclosure Statement -- PRELIMINARY STATEMENT -- ARGUMENT -- I. Disclosure Statement With Regard to a Plan That Is Patently Unconfirmable Cannot Be Approved -- II. The Plan Is Patently Unconfirmable -- III. The Disclosure Statement Does Not Contain Adequate Information, and Therefore Cannot Be Approved -- RESERVATION OF RIGHTS -- About the Authors -- Index -- Advert.
Abstract:
A detailed and compelling look at distressed securities investing in today's market In the corporate world, "vulture" investors in distressed securities serve the same cleanup function as vultures do in the natural world: they deal with failing companies, digest bad debt, and mop up after bankruptcies. Since this market's structural and legal complexities create greater inefficiencies than in other investment fields, it's a style of investing that can make money during both booms and busts. While recent economic carnage has made opportunities for vulture investors, more convoluted bankruptcies, conflicts of interest, and even government intervention have made this arena harder to negotiate. Nobody understands this better than author George Schultze, founder of Schultze Asset Management. During his successful career as a vulture investor, he's learned a number of lessons and developed an investment philosophy that has served him well. Now, in The Art of Vulture Investing, Schultze shares his valuable insights and experiences with you. Engaging and informative, this reliable guide offers a bird's-eye into the opportunities and risks associated with vulture investing. And while it may not always be pretty, you'll see exactly why this process is necessary for our economic ecosystem. Throughout this book, Schultze explains the theory and strategy of vulture investing in clear and lively prose, illustrating each concept with examples from his own varied experience that show how the landscape has changed in recent years. Offers valuable information on distressed securities investing since the 2007-2009 financial crisis Examines the opportunities and dilemmas for modern vulture investors Includes in-depth case studies of high-profile bankruptcies, including those of Chrysler Automotive and Tropicana Casinos and Resorts By its very nature, investing in
distressed companies can be a complicated and risky business. But once the dust settles, these investments can yield extraordinary profits. The Art of Vulture Investing puts this discipline in perspective and shows you how to excel at this difficult, yet rewarding, endeavor.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Genre:
Electronic Access:
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