Bankruptcy & Restructuring

Energy Industry’s Default Rate Soars as Others See Drop: Fitch

July 2, 2014

  The industry default rate of the utilities, power and gas sector spiked to 30.1 percent in the first four months of the year on Energy Future Holdings Corp.’s bankruptcy filing compared with a 5.6 percent average rate between 1980 and 2013, Fitch data show. Most other industries have seen their default rates decline in 2014 vs. the 1980-13 period. This graph is from

Bove: U.S. Bank Loan Sales Echo Resolution Trust Corp.’s Bad Debt Sales of 1990s

February 18, 2014

U.S. banks are selling non-performing loan pools and they are finding buyers that include business development companies, PE firms and hedge funds, recalling debt sales conducted by the Resolution Trust Corp. in the 1990s, Richard X. Bove, vice president of equity research at Rafferty Capital Markets LLC, tells Bloomberg Brief’s

Huffard: Shipping Sector on Course for Recovery Amid Decline in New Supply

January 31, 2014

The shipping industry has emerged from the most “frantic” part of its crisis thanks to an improving global economy, a drop in new ship construction and an influx of investment from hedge funds and private equity investors, Flip Huffard, senior managing director of restructuring and reorganization at Blackstone Group LP,