Jul
28
Hedge Funds Near End of the Line for Bailouts With Railroad Bet
ByA collection of New York-based hedge funds has discovered where euro-area bailouts stop: short of their investments.
To the chagrin of a creditor group that includes Avenue Capital Group, BlueMountain Capital Management and Neuberger Berman, the rescue of a troubled railroad whose loans they bet on has failed to materialize.
That has left them holding losses in TP Ferro Concesionaria SA — and little recourse. Governments in Spain and France have proved reluctant to lend a hand to international investors, banks and construction companies. The matter is most delicate for Spanish Prime Minister Mariano Rajoy, who faces voters in four months…
Hedge Funds Near End of the Line for Bailouts With Railroad Bet
