<h2>Battle of the Hedge Funds is Brewing in the Bankruptcy Auction</h2> <a href="https://icarussignals.com/wp-content/uploads/2020/07/Battle-of-the-Hedge-Funds-is-Brewing-in-the-Bankruptcy-Auction.jpg" data-elementor-open-lightbox="yes" data-elementor-lightbox-title="Battle of the Hedge Funds is Brewing in the Bankruptcy Auction" data-elementor-lightbox-description="Battle of the Hedge Funds is Brewing in the Bankruptcy Auction"> <img width="300" height="191" src="https://icarussignals.com/wp-content/uploads/2020/07/Battle-of-the-Hedge-Funds-is-Brewing-in-the-Bankruptcy-Auction-300x191.jpg" alt="Battle of the Hedge Funds is Brewing in the Bankruptcy Auction" srcset="https://i1.wp.com/icarussignals.com/wp-content/uploads/2020/07/Battle-of-the-Hedge-Funds-is-Brewing-in-the-Bankruptcy-Auction.jpg?resize=300%2C191&ssl=1 300w, https://i1.wp.com/icarussignals.com/wp-content/uploads/2020/07/Battle-of-the-Hedge-Funds-is-Brewing-in-the-Bankruptcy-Auction.jpg?w=440&ssl=1 440w" sizes="(max-width: 300px) 100vw, 300px" /> </a> <p>A battle of the hedge funds is brewing in the bankruptcy auction of the McClatchy Company, one of the nation’s largest and most decorated newspaper chains, pitting Chatham Asset Management and Brigade Capital Management, both debt holders in the chain, against a newcomer to the proceedings, Alden Global Capital.
Chatham and Brigade seemed to have an advantage going into the planned court-supervised sale of McClatchy. In April, McClatchy said it had received an offer worth more than $300 million from the two firms, which had taken on much of McClatchy’s debt in a Chapter 11 restructuring. The two hedge funds planned to use that debt as part of the bid, which would keep the chain, with 30 newsrooms across the country, intact. Read more…………..
Chart Of The Day
Gold prices have pushed to their highest levels since 2011 but sentiment isn’t going to change and its still the investment that should be at the top of everyone’s list, according to Paul Robinson, managing director at CRU.