Seat Pagine Gialle SpA’s creditors will vote next month to push the company into administration or exchange more than $2 billion of debt for ownership of the Yellow Pages publisher that’s got a stock value of $35 million.
Avenue Capital Group LLC, the distressed-debt firm that’s among a group of creditors winning big from the bankruptcy of Energy Future Holdings Corp., is gathering capital for its first fund dedicated to troubled energy companies.
Avenue Capital Group founder Marc Lasry and Bruce Grossman, his senior manager of investment, were on a private jet returning to New York from Harrisburg, Pennsylvania, in 2005 when they felt the plane’s cabin suddenly heat up.
A group of Energy Future Holdings Corp.’s unsecured bondholders including billionaire Marc Lasry’s Avenue Capital Group are poised to walk off owning the most profitable asset of the bankrupt power producer after engineering a deal to avoid a free-for-all restructuring.
Avenue Capital Group LLC, the distressed-debt firm co-founded by Marc Lasry, has appointed Richard Furst as chief investment officer amid speculation that Lasry will be nominated as U.S. ambassador to France.
National Basketball Association owners unanimously approved the sale of the Milwaukee Bucks to Avenue Capital Management’s Marc Lasry and Fortress Investment Group LLC cofounder Wesley Edens for $550 million.