The Evil Diaires: Phosphorus Holdco Bonds
Stonehill Capital Partners have entered into a confidentiality agreement with PwC as administrator of Phosphorus Holdco. PwC have no money whilst Stonehill have and, which is more to the point, are hopping mad. Astonishingly, Eurobonds are often issued such that neither the issuer nor, as in this case, the administrator can access the register. This…