Skip to main content

Carvana - Considering Both the Equity and Credit Story

Thursday, December 15th

Thursday, December 15th
10:00 a.m. EST

Join CreditSights, Covenant Review, LevFin Insights and Wedbush Equity Research as they discuss Carvana from both a Credit and Equity perspective.  Jory Eisenberg (CreditSights), Jason Suh (Covenant Review), Max Frumes (LFI) and Seth Basham (Wedbush) will discuss their views on the Carvana situation as well as take investor questions during the webinar.


  • Fundamental outlook for the used car industry
  • Carvana’s liquidity and outlook
  • Key covenant and capital structure considerations, including covenant differences
  • Debt restructuring options and game theory

This webinar is open to CreditSights, Covenant Review, and LFI subscribers.


Jory Eisenberg, CFA, FRM
Senior Analyst – Special Situations

Jory Eisenberg joined CreditSights in May of 2022 as a Senior Analyst focused on special situations and distressed credits. Prior to this he was employed at Emigrant Business Credit Corp. where he has focused on middle-market private credit transactions. Previously, he had spent 12 years at Elliott Management Corporation where he pursued investments across the capital structure in public and private equity and credit as well as non-correlated bespoke investment strategies. He began his career at Bear Stearns where he assisted with the arrangement of structured credit derivative products. Jory is a CFA Charterholder and a Certified FRM, graduating from the Wharton School with a B.S. Economics, finance and management concentrations.

Max Frumes
Special Situations Editor
LevFin Insights

Max Frumes is a veteran financial journalist who currently leads the North American Special Situations news team at LevFin Insights. He is the co-author of “The Caesars Palace Coup”, the authoritative account of the Caesars Entertainment bankruptcy and the defining book on distressed debt investing and corporate restructuring. He was the founding editor of and employee number one at Reorg Research, and previously reported for The Deal and Standard & Poor’s LCD. Frumes received his BA from the U.C. Berkeley, and MSJ from Northwestern’s Medill School of Journalism.

Jason Suh
Senior Covenant Analyst
Covenant Review

Jason Suh joined Covenant Review in 2014. Prior to joining Covenant Review, he practiced law at Sullivan & Cromwell LLP and Latham & Watkins LLP, focusing primarily on capital markets and corporate finance transactions. His experience includes investment grade and high yield debt offerings, public and private equity transactions, as well as liability management transactions that ranged from simple consent solicitations through complex debt exchange offerings. Jason graduated with a degree in computer science from Stanford University in 1998 and the University of Pennsylvania Carey Law School cum laude in 2006.

Seth Basham
Managing Director and Hardlines Retail Equity Research Analyst
Wedbush Securities

Seth Basham has 19 years of experience covering retail stocks.  Seth covered the hardline retail sector for five years at Credit Suisse and UBS, followed by five years investing in retail and consumer stocks on the buy side. He joined Wedbush in 2013. Seth’s edge is in detailed modeling and analysis and a strong network of contacts in the hardlines sector.  Prior to business school at Columbia, Seth was a strategy consultant.