Deals
Elliott Stokes Credit Fund Furor With Travelport Asset Move
- Owners plan move that could give upper hand in financing talks
- Creditor group threatening to claim default, push litigation
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Paul Singer’s Elliott Management Corp. is locked in a new battle with some of the most prominent credit investors, with one of its biggest private equity bets at stake.
Maneuvers by Elliott, along with Siris Capital Group, to save their control of global bookings operator Travelport LLC are facing a stern challenge from a lender group that is threatening to declare a default and commence litigation, according to a letter to the company reviewed by Bloomberg News. The details of the credit agreement and its terms are private.