Tricolor Mulled Restructuring Before Sudden Demise: The Brink

Welcome to The Brink. We’re reporters Dorothy Ma and Scott Carpenter in New York, where we looked at Tricolor’s sudden demise. We also have news on Petrofac’s restructuring plan, Venezuelan bonds and liability management exercises. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net.

Sudden Collapse

Subprime auto lender Tricolor Holdings, a regular in the asset-backed securities market, unexpectedly filed for liquidation in bankruptcy this week amid allegations of fraud, alarming debt investors and consumers.

While signs of distress at the company were largely unknown to the public until this week, Tricolor in late August hired Sidley Austin ...