Contrarian Capital Management, L.L.C. is an independently-owned investment firm specializing in opportunistic credit and special situations globally. Since 1995, we have been known for disciplined long-term investing, deep fundamental research, and a consistent focus on downside protection.
Contrarian was founded to capitalize on opportunities in parts of the credit markets that are often less trafficked due to issuance size, structure, or market conditions. This includes developed and emerging markets, where we seek to identify securities with embedded value and favorable risk/reward characteristics. We focus on:
The terms and conditions of use set forth herein apply to each of the pages of this website (collectively, the “Site”). Please read these terms and conditions of use carefully before using this Site.
By using the Site, you signify your agreement with the following terms and conditions of use pertaining to both this Site and any material on it without limitation or qualification. Contrarian Capital Management, L.L.C., its subsidiaries and affiliates (collectively referred to herein as “Contrarian”) may at any time revise these conditions by updating this posting. You are bound by any such revisions and should therefore periodically visit this page to review the then-current terms and conditions of use to which you are bound.
Not an offer of advisory services or securities
The Site is limited exclusively to the dissemination of general information about the services provided by Contrarian. No fiduciary or advisory relationship is created solely by visiting this website. The Site and the information contained herein do not constitute and should not be used or considered as an offer to sell or a solicitation of any offer to buy an interest in any investment fund managed by Contrarian or for the provision of any investment management or advisory services in any jurisdiction. Any such offer or solicitation will be made only by means of the Confidential Private Offering Memorandum relating to the particular fund. Any such advisory services will be provided through an investment management agreement. The contents of this Site do not constitute legal, tax or accounting advice or advice regarding the suitability or profitability of any transaction or investment. Access to information about any fund managed by Contrarian is limited to investors who, among other requirements, qualify as accredited investors within the meaning of the Securities Act of 1933, as amended, and qualified purchasers within the meaning of the Investment Company Act, as amended and who are sophisticated in financial matters, such that they are capable of evaluating the merits and risks of prospective investments.
Jurisdictional Issues
Unless otherwise specified, the materials in or accessible through the Site are directed at residents of the United States, its territories, possessions, and protectorates. The Site is controlled and operated by Contrarian from its offices within the State of Connecticut, United States of America. Contrarian makes no representation that material in or accessible through the Site is appropriate or available for use in other locations or that access to them where their content is located is not illegal and prohibited. Those who choose to access the Site from other locations do so on their own initiative and are responsible for establishing the legality, usability and correctness of any information or materials under any or all jurisdictions and the compliance of that information or material with local laws, if and to the extent local laws are applicable. You may not use or export the information or materials in violation of U.S. export laws and regulations. The information provided in or accessible through the Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Contrarian to any registration or other requirement within such jurisdiction or country.
Investment risk
Contrarian makes no representation, and it should not be assumed, that past investment performance is an indication of future results. Moreover, wherever there is the potential for profit there is also the possibility of loss. Certain of Contrarian’s strategies involve investments that are illiquid, are subject to a substantial risk of loss and are not suitable for many investors.
Restrictions on use of materials
Except as otherwise permitted by Contrarian, no materials from www.contrariancapital.com or any website owned, operated, licensed or controlled by Contrarian may be copied, reproduced, republished, uploaded, posted, transmitted or distributed in any way. You may download material displayed on this website for noncommercial, personal use only, provided you also retain all copyright and other proprietary notices contained on the materials. You may not distribute, modify, transmit, reuse, report or use the content of the Site for public or commercial purposes, including the text, images, audio and video, without Contrarian’s prior written permission.
Trademarks and copyrights
The Site and all its content including without limitation all trademarks, service marks, trade names, logos, and icons are proprietary to Contrarian. Nothing contained on the Site should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trademark displayed on the Site without the prior written permission of Contrarian or such third party that may own the trademarks displayed on the Site. No act of downloading or otherwise copying from this site will transfer title to any software or material at this site to you. Your use of the trademarks displayed on the Site, or any other content on the Site, except as provided herein, is strictly prohibited.
Anything that you transmit to this site becomes the property of Contrarian, may be used by Contrarian for any lawful purpose, and is further subject to disclosure as deemed appropriate by Contrarian, including to any legal or regulatory authority to which Contrarian is subject.
Images displayed on this Site are either the property of, or used with permission by, Contrarian. You may not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information, software, products, or services obtained from this site. The use of these images by you, or anyone else authorized by you, is prohibited unless specifically permitted herein. Any unauthorized use of the images may violate copyright laws, trademark laws, the laws of privacy and publicity, and communications regulations and statutes.
Inquiries concerning use of Contrarian’s trademarks, service marks, trade names, logos, icons, copyrights or other intellectual property should be addressed to Contrarian Capital Management, L.L.C., attn. Office of the General Counsel, 411 West Putnam Avenue, Suite 425, Greenwich, Connecticut 06830.
Links to other websites
The Site may contain links to other websites. Contrarian does not review or monitor any websites linked from or to the Site and will not be responsible for the content of any such linked website. If you decide to access the linked website, you do so at your own risk. Contrarian is not responsible for the information, materials or services obtained on or from such other websites and will not be liable in any respect for any damages arising from your access of such websites. Any such links are provided merely for the convenience of the users of the Site and the inclusion of the links does not imply any endorsement, representation or warranty by Contrarian with respect to any such website or the content or services contained through such websites. Furthermore, you agree not to link any websites to the Site without the express prior written consent of Contrarian.
Contrarian encourages you to read the privacy policies of others websites you link to from this website and disclaims any responsibility for the privacy policies and procedures of any third party websites that you reach via a hyperlink contained on this Site.
Disclaimers
Contrarian makes no warranties or representations with respect to the Site, express or implied. Under no circumstances shall Contrarian or any party involved in creating, producing, or delivering the Site be liable for any direct, incidental, consequential, indirect, punitive or other damages that result from the use of, or the inability to use, the materials on the Site, even if a Contrarian authorized representative has been advised of the possibility of such damages. Applicable law may not allow the limitation or exclusion of liability or incidental or consequential damages, so the above limitation or exclusion may not apply to you.
All materials at this site are meant to be reviewed in their entirety, including any footnotes, legal disclaimers, restrictions or disclosures, and any copyright or proprietary notices. Any disclaimers, restrictions, disclosures or hedge clauses apply to any partial document or material in the same manner as they do the whole, and will be deemed incorporated in the portion of any material or document that you consult or download. Contrarian also assumes no responsibility, and shall not be liable for, any damages to, or viruses that may infect, your computer equipment or other property on account of your access to, use of, or browsing in this Site or your downloading of any materials, data, text, images, video, or audio from this Site.
WITHOUT LIMITING THE FOREGOING OR ANYTHING ELSE SET FORTH HEREIN, THE SITE AND ALL OF ITS CONTENTS ARE MADE AVAILABLE BY CONTRARIAN “AS IS,” WITH ALL FAULTS, AND WITHOUT ANY WARRANTIES WHATSOEVER, EXPRESS OR IMPLIED. ALL WARRANTIES, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR ANY PARTICULAR PURPOSE, NON-INFRINGEMENT, TITLE, UNINTERRUPTED USE, QUIET ENJOYMENT, SYSTEM INTEGRATION, OR ACCURACY, SECURITY OF INFORMATION, OR RELIABILITY, ARE SPECIFICALLY EXCLUDED AND DISCLAIMED. CONTRARIAN MAKES NO WARRANTY THAT THE SITE, IN WHOLE OR IN PART, WILL MEET USERS’ REQUIREMENTS. USERS OF THE SITE ASSUME ALL RISK AS TO THE QUALITY, ACCURACY, UITABILITY, AVAILABILITY AND PERFORMANCE OF THE SITE AND ITS CONTENTS AND ACKNOWLEDGE THAT THE SITE AND ITS CONTENTS MAY BE REVISED, ALTERED AND CHANGED FROM TIME TO TIME IN THE SOLE DISCRETION OF CONTRARIAN. CONTRARIAN DOES NOT REPRESENT OR WARRANT THAT ANY SITE CONTENT WILL OPERATE CONTINUOUSLY OR WILL BE UNINTERRUPTED OR ERROR-FREE, OR THAT ANY DEFECTS WILL BE CORRECTED, OR THAT THIS SITE OR ANY SITE REFERRED OR LINKED TO HEREIN IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.
Limitation of liability
CONTRARIAN ASSUMES NO LIABILITY FOR LOSS OR DAMAGE RESULTING FROM ANY USE OF OR RELIANCE UPON THE SITE OR ITS CONTENTS. IN NO EVENT WILL CONTRARIAN BE LIABLE FOR ANY LOST PROFITS, LOST SAVINGS, LOST DATA, BUSINESS INTERRUPTION, OR OTHER DIRECT, INDIRECT, EXEMPLARY, PUNITIVE, SPECIAL, CONSEQUENTIAL, INCIDENTAL OR OTHER DAMAGES OR CLAIMS (WHETHER IN CONTRACT, IN TORT, OR OTHERWISE) ARISING OUT OF OR RELATING TO THE SITE, ITS CONTENTS, THE USE THEREOF, OR THE INABILITY TO USE THE SITE, EVEN IF CONTRARIAN HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE. IF ANY WARRANTY DISCLAIMER OR LIMITATION ON LIABILITY IN THIS AGREEMENT IS FOUND TO BE INVALID OR UNENFORCEABLE FOR ANY REASON, THEN THE AGGREGATE LIABILITY OF CONTRARIAN UPON ANY CLAIM (WHETHER IN CONTRACT, IN TORT, OR OTHERWISE) ARISING OUT OF THE SITE, ITS USE OR ITS CONTENTS SHALL NOT EXCEED ONE THOUSAND DOLLARS ($1,000.00). THIS LIMITATION OF LIABILITY APPLIES REGARDLESS OF ANY NEGLIGENCE OR GROSS NEGLIGENCE OF CONTRARIAN OR ANY OF ITS DIRECTORS, OFFICERS, MEMBERS, PARTNERS, PRINCIPALS, EMPLOYEES, AGENTS OR REPRESENTATIVES. YOU ACCEPT ALL RISKS IN RELYING ON ANY INFORMATION CONTAINED IN THIS SITE. IF YOU ARE DISSATISFIED WITH ANY PORTION OF THIS SITE, OR WITH ANY OF THESE TERMS AND CONDITIONS, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THIS SITE.
Indemnification
You agree to defend, indemnify and hold Contrarian and its directors, officers, members, partners, principals, employees, agents and representatives harmless from any and all claims, liabilities, costs and expenses, including, without limitation, reasonable attorneys’ fees, arising in any way from (i) your use of the Site, in whole or in part, or (ii) your breach or violation of law or any provisions contained herein. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, and in such case, you agree to cooperate with any such defense.
Governing law and consent to jurisdiction
These terms and conditions of use shall be governed by and construed in accordance with the laws of the state of Connecticut applicable to agreements made and to be performed wholly within such state. You agree that any dispute or action at law or inequity arising out of or relating to these terms and conditions of use or your use of the Site shall be commenced only in the state or federal courts located in Fairfield County, Connecticut and you hereby consent and submit to the personal jurisdiction of such courts for the purposes of any such dispute or action.
Waiver
No waiver by Contrarian of any right under or term or provision of these terms and conditions of use will be deemed a waiver of any other right, term or provision of these terms and conditions of use at that time or a waiver of that or any other right, term or provision of these terms and conditions of use at any other time. Nothing in these Terms shall be construed as a waiver of any rights that cannot be waived under applicable federal or state securities laws.
Integration and severability
If any provision of these terms and conditions of use is found to be invalid, unlawful, void or for any reason unenforceable then that provision shall be deemed severable from these terms and conditions of use and shall not affect the validity and enforceability of any remaining provisions. These terms and conditions of use represent and constitute the entire agreement between Contrarian and you relating to the subject matter discussed herein.
Termination
These terms and conditions of use are effective until terminated by Contrarian. Upon termination of these terms you must destroy all information and materials obtained by you or on your behalf from the Site and all associated documentation, copies, and installation whether made under these terms or otherwise.
Safeguarding of Information
This Website is not absolutely protected against unauthorized third parties. You acknowledge that any information provided through the internet may be potentially accessed by unauthorized third parties. Although Contrarian will make reasonable efforts to protect the privacy of users of this site, no guarantee can be made that unauthorized third parties will not access the information contained on this Website. For example, Contrarian’s information and technology systems may be vulnerable to potential damage or interruption from computer viruses, network failures, computer and telecommunication failures, infiltration by unauthorized persons and security breaches, usage errors by their respective professionals, power outages and catastrophic events such as fires, tornadoes, floods, hurricanes and earthquakes.