Tom
I don't envy writers that take on complex investigations like this. By design, the financial machinations are obtuse and confusing, deliberately concocted to bewilder even the most experienced outsider looking in. Despite the inherent complexity, I think the author could have done a better job explaining the core aspects of this case study.
That aside, the key points I took from this book were:
1. Private equity moved assets between entities in an attempt to defraud creditors
2. Private equity owners used the size of the company during the bankruptcy to avoid personal liability for aforementioned fraud (just like Perdue)
I don't envy writers that take on complex investigations like this. By design, the financial machinations are obtuse and confusing, deliberately concocted to bewilder even the most experienced outsider looking in. Despite the inherent complexity, I think the author could have done a better job explaining the core aspects of this case study.
That aside, the key points I took from this book were:
1. Private equity moved assets between entities in an attempt to defraud creditors
2. Private equity owners used the size of the company during the bankruptcy to avoid personal liability for aforementioned fraud (just like Perdue)