Advisor Cries Foul on JPM Bond Report

Cap Cana’s restructuring advisor, New York based Weston Group, says JPMorgan is looking to influence the outcome of ongoing debt negotiations by releasing a research report on the credit only days ahead of its maturing bridge. “JPMorgan is trying to push Cap Cana to some sort of settlement [with this research report,]” says John Liegey, CEO of Weston Financial Group. The executive, who began advising Cap Cana on its debt issues in early October, alleges the authors of the report have used inside information obtained from previous relationships with the company to write the report. The report, issued on Monday afternoon, discusses the credit and the greenfield project in depth, as well as the various scenarios the company faces today, including its debt problems. It recommends investors be overweight in the 2013 9.625% notes. A JPMorgan spokeswoman declines to comment on the accusations.