Hedge funds join forces to tackle the Hovnanian question

Elliott, Apollo, CQS and Anchorage among firms trying to ensure CDS markets are not undermined


A New Jersey-based building company has been catapulted into the limelight of the financial press over its murky restructuring, and now hedge fund giants such as Elliott, Apollo, CQS and Anchorage are joining forces to try to stop the move undermining the CDS market. Hovnanian is a fairly unremarkable corporation,