JFW’s Jon Weber on Post-Reorg Boards: State of Distressed Debt
“LMEs buy time for the sponsor, but I’m increasingly seeing that that’s all it really does.” Jon Weber, founder of JFW & Co., doesn’t mince words regarding the effectiveness of the popular restructuring strategy. Liability management exercises leave executives with a “sword of Damocles” over their heads, failing to really fix anything and with an aftermath that remains a management distraction, Weber told Bloomberg Intelligence’s Phil Brendel, in October’s feature interview for the State of Distressed Debt podcast. Weber shared his perspectives, honed at Icahn Enterprises, Goldman Sachs and…
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