Victor Khosla and his investment firm Strategic Value Partners are the main competitors of Adler Real Estate Group in its restructuring plans.
(Image: Bloomberg)
Dusseldorf, Frankfurt When the High Court in London decides on the future of the indebted Adler Group next Monday, it will have a lot to do with Victor Khosla. The founder of the financial investor Strategic Value Partners (SVP), who has been in the distressed corporate space for more than 30 years, is currently perhaps the most important exhibitor of the real estate group in its restructuring plans.
Khosla and SVP own a portion of Adler Bonds. The Americans joined three other investors and held the creditor vote in December Adler’s restructuring plan prevented.
Because the group about a senior vice president let votes in Germany fail, Adler is now looking for a director in London. In Britain, the court can force minorities to submit to the majority vote. So Adler founded a British subsidiary and appointed it as the principal debtor of the bonds.
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