A four-player chess game
Back in June 2019, hedge fund Aurelius wrote a letter to Frontier Communications (FTR) to pursue an out-of-court debt exchange.
On October 2019 Robert Citrone recommended the company file for Chapter 11 “sooner than later”.
In November 2019 a different group of creditors holding Frontier’s debt hired a law firm to ensure their interests were represented in the troubled telecom company’s restructuring negotiations.
Just in case three different creditor groups, all of them pursuing different targets, are not enough to confuse investors about the possible outcome for the company,