Wexford is in the know for sure: ..... "Wexford Capital is an SEC registered investment advisor with over $3 billion of assets under management and a background that includes over two decades of investing in distressed situations, including companies that have filed or are considering filing chapter 11 reorganization proceedings. Wexford and its affiliated investment funds have broad experience with distressed investment situations, including as a sponsor of plans of reorganization, service on creditors' committees, participation as a debtor in possession lender and numerous other matters.
The Purchasing Entities acquired the shares of the Issuer's Common Stock reported on this Schedule 13D after examination of the recent events regarding the Issuer and analysis of the Issuer's financial condition and capital structure. The Reporting Persons' preliminary view is that while the Issuer may need to restructure its debt, such a restructuring should be able to be accomplished either in or outside of a chapter 11 reorganization proceeding, and that with an appropriate capital structure, the fundamentals of the Issuer's business appear to be sound. Depending upon the actions taken by the Issuer and the lenders under the Issuer's credit agreement as amended, the Reporting Persons may consider taking an active role in the discussions regarding the restructuring of the Issuer's financial obligations and balance sheet and the steps that the Issuer should take going forward with respect to the operation of its business. If appropriate, the Reporting Persons may also consider making a proposal to provide debtor in possession financing or other financial support to the Issuer. "
