Link: http://www.ft.com/intl/cms/s/0/a710912e-eb5b-11e5-bb79-2303682345c8.html#axzz434j3l7v4

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>From The Financial Times (UK):

“If you are a Valeant debt holder the first thing you want to see is new
management. The second thing is to make sure the parts of Valeant that can
be sold quickly for cash are sold,” said Erik Gordon, professor at the
University of Michigan Ross School of Business.

“Bondholders are going to now be looking at the sum of parts, and asking
what can be sold in [the] next 12-18 months and how much recovery they can
get in a worst-case scenario.”

http://www.ft.com/intl/cms/s/0/a710912e-eb5b-11e5-bb79-2303682345c8.html#axzz434j3l7v4

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Erik Gordon
Ross School of Business
University of Michigan
Ann Arbor, Michigan