Stephen Phillips on "Vulture Funds" Actually Saving Businesses? The Truth About Distressed Debt
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Stephen Phillips on "Vulture Funds" Actually Saving Businesses? The Truth About Distressed Debt
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About this listen
In this episode of the Secret Expert Podcast, we sit down with Stephen Phillips, a veteran restructuring lawyer and the Founder of FreiLibertas Law. After 25 years as a partner in elite "Big Law" firms like White & Case and Orrick, Stephen stepped away to launch an independent, conflict-free firm dedicated to helping distressed companies navigate their darkest hours.
We dive deep into the misunderstood world of Distressed Debt, debating whether funds are predatory "vultures" or pragmatic partners who provide the new money needed to survive. Stephen also exposes the problem of "Sponsor Designation" (where Private Equity firms force lenders to use specific lawyers) and explains why independent counsel is critical when directors find themselves in the "maelstrom" of competing interests. Plus, we take a history lesson on how the UK Scheme of Arrangement was pioneered during the high-yield bust of the early 2000s.
🔗 Connect with Stephen Phillips:
Firm: FreiLibertas.com
LinkedIn: Stephen Phillips
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#StephenPhillips #FreiLibertas #RestructuringLaw #Insolvency #DistressedDebt #PrivateEquity #TurnaroundManagement #CorporateFinance #BusinessRescue #Podcast