This is what I found on greywolf. It doesn't sound to me like they don't do their homework DD

Founded in 2003, Greywolf Capital Management LP is an investment firm focused on realizing value for its capital partners primarily through opportunistic credit-based and fundamental analysis-driven investment strategies.

As of January 1, 2011 Greywolf manages approximately $956 million invested in two strategies: Special Situations and Structured Products. Each of these strategies has a domestic and an off-shore fund.

Greywolf executes its investment strategies through a team of approximately 16 investment professionals, led by the firm’s five partners.

Greywolf is an SEC-registered investment adviser. PricewaterhouseCoopers serves as independent auditors for the funds that Greywolf manages