Spending hundreds of millions of dollars on hotels in the years and weeks before the coronavirus upended travel is the kind of thing that might catch a short-seller’s attention. The fact that most of these hotels were in the U.K., a country struggling not only to contain the pandemic but also to figure out what, exactly, Brexit means might pique this interest a little further. Throw in the arrest of the company’s controlling shareholder, and there are hardly enough Vivion Investments bonds available to lend to meet the demands of those desperate to bet against that sort of trifecta.

Speculators are predicting more pain for a firm that has more than half its real-estate portfolio tied to British hotels as the U.K. suffers through yet another national lockdown…. As much as 16% of the company’s 1 billion euros ($1.2 billion) of bonds are currently on loan to investors seeking to profit if the price drops….

JPMorgan Chase & Co. strategists cited the potential for the tax investigation to leave the Dayan family facing a hefty bill as a central reason for issuing a “sell” recommendation on Vivion’s bonds this week…. The founder may need to raise cash by calling for repayment of a loan to the company or selling assets to the firm at an inflated price, they said.

Hedge Funds Target Firm That Bet $2 Billion on Hotels Pre-Covid [Bloomberg]

Related

Like this but worse. By Anonymous [Public domain or Public domain], via Wikimedia Commons

For British Bankers, Brexit Might As Well Already Be Here

The pounds are very much not taking care of themselves.

coronavirus

First Hedge Fund Dies Of Coronavirus

If you’ve been in contact with Solus Alternative Asset Management’s flagship, please lock your door right away and swallow the key.

coronavirus

Pharma Accused Of Taking Break From COVID Vaccine Work To Give Former Hedge Fund Owner An Opportunity To Do A Little Insider Trading

That pause in selling Vaxart shares and increase in ownership ceiling sure was fortuitously timed for Armistice Capital, no?

Mnuchin Lampert

Hedge Fund Managers Forced To Find Creative New Way To Avoid Paying Taxes

The loophole in the carried-interest loophole is closed, for now.

2020 1040

It’s Probably Best To Use The Same Address On Your Tax Returns, SEC Filings

Failure to do so can lead to some uncomfortable, $105 million questions.

gamestop 2

Andrew Left Embraces His Inner Millennial

Short selling is out. Helping Redditors ride rocket stonks to the moon is in.

n95

If You Survive This, You Might Be An Accredited Investor On The Other Side

There may not be any hedge funds left to invest in, but that’s not Jay Clayton’s problem.