Matt Doheny has over twenty years of experience in the distressed investing, turnaround and restructuring industry.Weber has over 35 years of experience in litigation support and expert witness work, restructuring consulting (both debtor and creditor) and auditing."Of course, they have to be aggressive (to recover their money), but aggression need not necessarily be negative," says Subex promoter Subash Menon, who has been interacting closely with QVT for the past three years.
Qvt overseas liquidating ltd
Doheny served as a Managing Director and helped lead the Distressed Products Group of Deutsche Bank Securities Inc.
Prior to Deutsche Bank, he was a bankruptcy attorney in the corporate reorganization groups of Orrick and Kelley Drye.
Yes, there are many companies relying on the Indian system to protect them from the QVT onslaught.
But some say that if there's a genuine compromise formula, Fu doesn't refuse the hand.
For the $6-billion fund, in these troubled times, it is imperative to keep investors and fight till the end, even if it means a few million dollars, which would have been just a fraction of the fees before the 2008 credit crisis changed the world of finance.
"We are a hedge fund and we are doing this to maximise our investor returns," says Fu, who declines to part with any information regarding how much is at stake in India, or which are the investee companies.
Their stock prices were nowhere near the agreed conversion price.
Fu rode the Indian convertible boom in 20 when the nation was the highest in raising capital through the instrument.
Industry estimates the fund, that once specialised in convertibles, has an investment of 0 million in India.
Many companies like Wockhardt and Subex, where it bought convertibles, were unable to repay.
"We made some mistakes in the market like everybody else," admits Fu, who remains as secretive as any hedge fund manager is when it comes to talking about the business and investments.