SINGER’S HITS AND MISSES

ELLIOTT MANAGEMENT HAS USED THE COURT SYSTEM TO WIN PAYOUTS ON ITS DISTRESSED-DEBT HOLDINGS.

DELPHI AUTOMOTIVE PLC

2009 TO 2011

PURCHASE PRICE $300M

WINS $1B+

Elliott paid about $300 million for $3 billion of Delphi debt in 2009. The fund wound up with a 13 percent equity stake in the auto-parts maker, valued at more than $1 billion, after the 2011 IPO.

LEHMAN BROTHERS

2008 TO 2012

PURCHASE PRICE UNDISCLOSED AMOUNT

WINS $2B

Elliott acquired Lehman Brothers debt after the investment bank’s 2008 bankruptcy. With the bankruptcy settlement in April, the value of the fund’s position rose to about $2 billion.

PERU

1996 TO 2000

PURCHASE PRICE $11M

WINS $58M

An Elliott fund paid $11 million for $20 million of debt of two government-controlled banks in 1996. The courts said Peru owed Elliott $58million, which it paid in 2000.

MARC DREIER

2009

SETBACKS $101M

An Elliott fund bought $101.1 million of phony promissory notes from lawyer Marc Dreier in 2009. Dreier was convicted of defrauding hedge funds of $400 million that year.

COLT GROUP SA

2002

SETBACKS £75M

An Elliott fund bought bonds with a face value of £75 million in what was then Colt Telecom Group Plc and filed to put the company into bankruptcy. A U.K. High Court judge threw out the case the same year.

ARGENTINA

2001 TO 2012

SETBACKS $600M+

An Elliott fund acquired more than $600 million of Argentine bonds. The fund has won $1.6 billion in judgments but has yet to receive any payments.

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