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What Is ‘Distressed Debt 3.0?’

GoldenTree Asset Management’s Steve Tananbaum says the old playbooks in distressed-debt investing no longer work. In this interview excerpt, he explains why investors need to use restructurings as “platforms” for mergers and acquisitions. He calls it “Distressed 3.0.” Tananbaum spoke exclusively with Erik Schatzker on Bloomberg’s “Front Row.
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