Australian lenders are taking a more positive view of secondary debt traders and are more inclined to deal with them than in the past, according to an adviser in the field.
A partner in the restructuring and insolvency group at the law firm Ashurst, Tim Sackar, said he was advising a growing number of lenders on the ins and outs of dealing with hedge funds and other secondary debt buyers.
Sackar, who was speaking at a Finsia seminar on insolvency in Sydney yesterday, said: "Hedge funds can create problems but on the positive side they create liquidity and they give lenders...
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