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Restructuring

A Longtime Player Goes Bust

- Several weeks after a FINRA order, Jesup & Lamont surprises creditors by going bankrupt; some say it has only itself to blame.

Turnaround Firm Grows in N.Y.

- Ex-Traxi pro helps MorrisAnderson with East Coast expansion.

Hunting Some Bigger Game

- Using the heft of its Canadian parent as a selling point, RBC Capital Markets is reaching out to large Wall Street customers.

NewOak Brings on CRE Pro

- NewOak Capital, a New York-based asset manager and advisory firm, hired Carlos Vigon to develop a new business that will buy and actively manage real estate properties for clients, mostly institutional investors.

Nomura Jumps into Tech M&A

- Sasson Darwish last week became Nomura Securities’ first major tech banker in North America, where the Japanese firm expects a pickup in mergers and acquisitions.

LBO Debt Could Be Readily Absorbed

- IMS Health transactions could serve as a case study for future M&A-related junk bond offerings.

Nonprofit Hospitals Now in Play

- Private-equity group Cerberus Capital Management LP yesterday said it would buy Boston’s nonprofit Caritas Christi Health Care for $830 million, taking over the Catholic system’s long-term debt and spending $400 million on capital upgrades.

Regulator to Administer Ambac’s Toxic Holdings

- The office of the Wisconsin insurance commissioner ordered troubled bond guarantor Ambac Assurance Corp. to deposit the more toxic holdings of its insured portfolio into a newly-created account that the office will administer.

The Class of 2009

- Nearly 50% of all nonfinancial firms that defaulted last year were PE-owned, and most defaults were distressed exchanges.

KBW Launches New Practice

- JPMorgan veteran will lead firm’s real estate I-banking team.

C.P. Eaton Expands Ranks

- C.P. Eaton Partners hired Loren Boston, a fundraising veteran and former global head of origination for Bank of America Merrill Lynch's private-equity funds group, as part of the advisory firm's efforts to grab market share from larger rivals.

High Yield: The New Wellspring

- Junk-rated companies are finding it easier and cheaper to raise money in the bond market and rely less on bank loans.

Health Care Takes Debt Mart by Storm

- Loan and bond markets provide attractive terms. Some participants ask: is there too much supply from the industry sector?

Agribusiness Banking Crops Up Anew on Wall Street

- Investment bankers have found that, at a time when food commodity prices are above historical levels, interest is heightened in cross-border transactions among agribusiness companies.

Arriving in Familiar Territory

- Shannon Lowry Nagle’s first day as a partner in Fried, Frank, Harris, Shriver & Jacobson’s bankruptcy and restructuring practice may have been this week, but she’s no stranger to Fried Frank partners such as Gary Kaplan and Brad Eric Scheler.

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