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Jamie Sprayregen on the Restructuring Landscape: State of Distressed Debt
Jamie Sprayregen on the Restructuring Landscape
State of Distressed Debt
Don't be expecting "gentlemanly" behavior from corporate boards under financial stress, according to Hilco Global's Vice Chairman James H. M. Sprayregen, as boards should consider exercising all the rights available to them under their credit agreements to maximize enterprise value. Bloomberg Intelligence's Phil Brendel and Negisa Balluku had an in-depth feature interview with Jamie Sprayregen, who founded Kirkland & Ellis's restructuring practice more than three decades ago. They discussed those early days at K&E, his new role at Hilco Global, the jousting among lenders and debtors, the Supreme Court’s Purdue decision, and his restructuring outlook (5:38). Prior to that, BI's Noel Hebert and Phil discussed July's sharply-tighter credit markets and what to make of early August's wild swings as we head into credit's toughest months. The podcast concludes with all three discussing the latest developments in bankruptcy courts and distressed situations, including SVB Financial, J&J, Ardagh, Incora, Diamond Sports, Yellow Corp, and Spirit Airlines (1:05:15).
Aug 08, 2024