The spike in the high yield default rate is bad news for companies struggling under an unsustainable debt load, but good news for restructuring shops. Among the biggest independent investment banks, including Houlihan Lokey,
When Wells Fargo raises the curtain of its biennial investor day conference this week, bank analysts will be looking for the California-based lender to fully explain its expansion into investment banking. They are also expecting to be disappointed.
Unsecured creditors in the growing list of US and Canadian oil bankruptcies are hoping that a recent bounce in crude prices will strengthen their positions as they begin work-out talks with other stakeholders.