With a net worth of $1.3 billion, Marc Lasry manages the famous Avenue Capital Management. The fund lost 10 percent last year—the second worst year ever for hedge funds. Lasry invests in distressed companies and has also voiced some interest in European investments as long-term plays. He and his sister, Sonia Gardner, founded Avenue Capital with $7 million of their own capital.
According to the 13F document released more »
Memphis-based Verso Paper Corp. (NYSE: VRS) received notification, dated Dec. 21, 2011, from the NYSE stating they had fallen below the required listing standard for market capitalization. It’s not the first time, as they received notification in 2009 when their share price dropped below $1 in the first quarter. This second notice gave 45 days for Verso to submit a plan to get back in compliance within 18 months more »