Someone, who shall remain nameless, sent me an email mentioning the name of David J. Wermuth. Upon a short internet search, I found out he is a Senior Principal and the General Counsel of Stone Point and a member of the Investment Committees of the Trident Funds. He used to work for Cleary Gottlieb, PR’s premier restructuring law firm, and is a director of a number of portfolio companies of the Trident Funds, including Freepoint Commodities LLC and Millstein & Co.
Again the three names, Freepoint Commodities LLC who negotiated a billion dollar fuel contract with PREPA, Stone Point who owns pat of Freepoint and Millstein & Co., who’s principal is also owner of Millco Advisors who is involved in the PREPA restructuring and will receive a $9 million bonus if the electric utility restructures by December 31, 2015. This stinks to high heaven.