Vivion: Exchanging Reality

Vivion has proposed a bond exchange to extend its maturities. (Muddy Waters remains short Vivion bonds.) Oddly, Vivion has not published up to date financials, and based on pro forma adjustments in the Exchange Offering Memorandum, it appears that Vivion has repaid portions of its shareholder loans… more

Vivion: You Don’t Mess With The Dayan

Muddy Waters remains short bonds of Vivion Investments S.à r.l. Vivion’s December 22, 2022 response to our report contained numerous inaccuracies and misleading statements. Research we have conducted subsequent to Vivion’s response yields new evidence that Vivion systematically inflated the values o… more