Saturday, 27 December 2014
Last updated 2 days ago
Nov 14 2007 | 7:20am ET
David Tepper, the billionaire president of Appaloosa Management, is set to be grilled by fellow shareholders of auto parts maker Delphi Corp., which the hedge fund plans to pump $2.55 billion into as part of a reorganization plan.
The deposition is part of the shareholder’s battle to stop bankrupt Delphi’s restructuring. Under the plan, the company’s shareholders will only get $69 million—a precipitous decline from the $470 million proposed in the initial plan.
Delphi has also sought to amend the plan to cut borrowing and cash payments to former parent General Motors.
Appaloosa, along with the equity committee, has opposed the plans, but has not withdrawn its August agreement with Delphi.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.