(The Daily Mail) Two foreign hedge funds pushed Interserve into administration – and left 16,500 small shareholders with nothing.In a humiliating blow to the Government contractor’s chief executive Debbie White and chairman Glyn Barker, investors rejected a rescue package that would have slashed their stake in the company to just 5 per cent and handed the other 95 per cent to Interserve’s lenders.
The rebellion was led by New York-based hedge fund Coltrane Asset Management, the largest investor with a 27 per cent stake, and Dutch fund Farringdon, which held about 6 per cent.
Hedge Funds Push Interserve into Administration Leaving 16,500 Small Shareholders with Nothing
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