{"id":11238,"date":"2009-08-12T00:00:00","date_gmt":"2009-08-12T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-shut-out-as-banks-win-imo","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2009\/hedge-funds-shut-out-as-banks-win-imo.html","title":{"rendered":"Hedge funds shut out as banks win IMO"},"content":{"rendered":"<p> Times Online &#8211; A group of banks that financed the &pound;450 million leveraged buy-out (LBO) of car  wash group IMO will take control of the struggling business leaving a rival  group of hedge fund investors with nothing.  <\/p>\n<p> In a High Court decision that lawyers say will damage hedge funds&#8217; interests  in dozens of ailing private equity deals, a judge awarded 100 per cent of  IMO&#8217;s equity to the banks, led by HBOS.  <\/p>\n<p> The hedge funds, which also lent money to back the 2006 buy-out, argued that  they were entitled to some equity in the business, which is being  restructured after defaulting on its debts in March.  <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" height=\"1\" width=\"1\" border=\"0\" src=\"http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~4\/jayJnxw6a1Y\" \/><br \/>  <a href=\"http:\/\/business.timesonline.co.uk\/tol\/business\/law\/article6792292.ece\" target=\"_blank\" title=\"Read Complete Article\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Times Online &#8211; A group of banks that financed the &pound;450 million leveraged buy-out (LBO) of car wash group IMO will take control of the struggling business leaving a rival group of hedge fund investors with nothing. In a High [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,4],"tags":[4306,15188,2233,1065,1466,5463,752,11148,15189,8416,2604,9538,48,15187],"class_list":["post-11238","post","type-post","status-publish","format-standard","hentry","category-private-equity","category-syndicated","tag-banks","tag-car-wash","tag-court-decision","tag-debts","tag-dozens","tag-fund-investors","tag-hbos","tag-hedge-fund","tag-imo","tag-lawyers","tag-lbo","tag-lent","tag-money","tag-rival-group"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=11238"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11238\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=11238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=11238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=11238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}