Horizon Lines Inc. (fka HRZL)

[hawkmd]

Horizon Lines’ empty bankruptcy threat brings US DoJ to its knees; victorious hedge funds rejoice


“The DoJ blinked,” said the hedge fund analyst. “They didn’t need to, but that’s what happened. The bondholders didn’t really want a filing because their recovery could have been 30 to 40 cents, but the company used the slight chance of bankruptcy as leverage.”

http://www.ft.com/intl/cms/s/2/4f212e9c-7c6b-11e0-b9e3-00144feabdc0,dwp_uuid=e8477cc4-c820-11db-b0dc-000b5df10621.html#axzz1MuRmsa7k