Bondholders Take Activism Up a Notch

Sargent, Carolyn
July 2005
Investment Dealers' Digest;7/18/2005, Vol. 71 Issue 28, p7
Trade Publication
The article reports that bondholders have always taken action against issuers that fail to make payments, or when financial woes make a pending payment unlikely. But in recent weeks, they have taken to task at least two corporate borrowers for a much more technical default on their borrowing agreements: failure to file audited financial statements on time. And in an era when preparing financial statements is more complex and time consuming, bankruptcy and restructuring lawyers say more companies will no doubt face similar action.


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