Sea Containers Ltd (fka SCRA)

[finbar99]

checking out sopris and marathon a bit more - marathon has to file its quarterly holdings with SEC - as of 9/30/07 they did not appear to be holding any Sea Container debt - but I think this debt doesn't publicly trade so maybe they don't have to list it - ah more questions. Sopris doesn't even have to file these. I do see where Sopris played Movie gallery from the debt side of the table, so they definitely do that sort of work, which some funds don't. But they also show up purely on the equity side. I'd forgotten, but they were part of that ad hoc EC for Allied Holdings I mentioned yesterday - where half the committee was bot out - they were part of that side that left the other two - Virtus and Hawk - out in the cold; but in Sorpis defense it was a losing battle against Yucaipa (interesting fund - Bill Clinton was 'gifted' a huge % of that fund for his connections to J Hoffa - so Yucaipa now backdoors a lot of these bk plays by tying up the union and getting the union to say they won't work with anyone but Yucaipa - scares everybody else off and hogties the debtor - they tried it more recently with Interstate Bakeries - when those guys show up I now head straight for the exits). If you look at Sorpri's recent transactions they also bot the crap out of Hancock Fabrics in the high 2s - so they do make some big mistakes. I hate it when one small question only leads to more.