(Bloomberg) When no one swerves in a game of chicken, everyone gets hurt. Small investors in Britain will have U.S. hedge funds in their sights after Coltrane Asset Management LP torpedoed a restructuring plan agreed between Interserve Plc and the debt-laden government contractor’s lenders on Friday. A failed attempt to extract more than the paltry equity stake on offer to existing shareholders has left them all with nothing whatsoever.
Everyone Loses in This Hedge Fund’s Game of Chicken
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