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Eurozone c.banks emerge from Lehman bankruptcy without loss-Buba
Reuters: Financials
Wed, 20 Feb 2013
FRANKFURT, Feb 20 (Reuters) - The euro zone's central banking system is on track to emerge from the Lehman Brothersbankruptcy without loss, the Bundesbank said on Wednesday.
The Fairholme manager comments on the fund's significant investment in the convertible bonds and bank debt of bankrupt mall operator General Growth Properties.
A shorter, more orderly bankruptcy process is good news for distressed debt investors, but it does shift the game a little bit, says Third Avenue's Jeff Gary.