{"id":36925,"date":"2013-07-24T11:46:27","date_gmt":"2013-07-24T15:46:27","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=36925"},"modified":"2013-07-24T11:46:27","modified_gmt":"2013-07-24T15:46:27","slug":"as-banks-retreat-hedge-funds-smell-profit","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2013\/as-banks-retreat-hedge-funds-smell-profit.html","title":{"rendered":"As Banks Retreat, Hedge Funds Smell Profit"},"content":{"rendered":"<p>WSJ &#8211; School Specialty Inc., a distributor of classroom supplies, borrowed $64 million from a private investment fund last year after it couldn&#8217;t get a loan from a bank. Its financial problems persisted, and, in January, it sought bankruptcy protection.<\/p>\n<p>Most of the company&#8217;s creditors lost money and its shareholders were wiped out. But its last-ditch lender, Bayside Capital, had its loan repaid in full, plus 12.5% interest. It also stands to collect a $23.7 million &#8220;early-payment&#8221; fee that would vault its profit above 30%, which has prompted a bankruptcy-court challenge by other creditors.<\/p>\n<p><a href=\"http:\/\/online.wsj.com\/article\/SB10001424127887324637504578567383459564510.html\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WSJ &#8211; School Specialty Inc., a distributor of classroom supplies, borrowed $64 million from a private investment fund last year after it couldn&#8217;t get a loan from a bank. Its financial problems persisted, and, in January, it sought bankruptcy protection. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-36925","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36925","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=36925"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36925\/revisions"}],"predecessor-version":[{"id":36927,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36925\/revisions\/36927"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=36925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=36925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=36925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}