Davis Polk Bills $4.8M in April for Spirit Case
Davis Polk this week submitted $4.8 million in April-only billings to bankruptcy court overseeing Spirit Airlines case, including three 2nd yr associates charging $1,410/hr who together cost $725k: https://t.co/YxyN9VN17A https://t.co/S2cbum3w9w
PE Interviews Demand Impossible LBO Modeling From Rookies
we need to broadcast PE associate interviews this way… like imagine David Sambur screaming at a first-year GS analyst demanding an LBO model with multiple cash sweeps, IPO and M&A exit toggles, etc.
Judge Enforces Absolute Priority Amid $500M Trump Priming
so you have Trump’s priming $500mn, the ad hoc bondholder group, and a federal judge sworn to uphold the absolute priority rule 🍿: https://t.co/nLx7Z4Tz0f https://t.co/ddFVAt6bSH
Kirkland & Ellis Appoints Wachtell Star as Nemecek Successor
NEW: Kirkland & Ellis hires Wachtell star to replace Dave Nemecek. From @mroliverbarnes and me: https://t.co/4sYasj7toe
Family Wealth Fuels Speculative Startup Funding
“He just put together a small fund and went to his family… If you’re coming from a family situation where they can afford to cut you a check for a few million dollars for something speculative, then that’s absolutely going...
Ackman's 78% Premium Is Merely a Self‑valued Projection.
the “78% premium” that Ackman is advertising isn’t really a premium in the classical M&A sense… it’s just his view of future value of UMG with him in charge after a basically all-stock merger🙄: https://t.co/otTHJExZ64
Apollo Plans Second Headquarters in a Red‑state Location.
NEW: Apollo wants a 2nd HQ outside of NYC and will put it in a red state: https://t.co/geTbHJ1Vla https://t.co/CRqBAkfAcy
Musk's Lawyers Fight Delaware Judge over LinkedIn ‘Like’ Scandal
NEW: a LinkedIn scandal involving securities fraud tweets: https://t.co/Cvklcqp0qx Musk lawyers try to bar Delaware judge over LinkedIn ‘like’ cheering legal defeat https://t.co/kVtbkkOEVN
Blackstone’s Jon Gray Offers SaaS Loans at 98¢
it’s your promotion year at Blackstone and Jon Gray calls and asks if you wanna buy some SaaS loans at 98 cents: https://t.co/7xdf7c8YNt https://t.co/CvnV13BVpL