peHUB First Read

* InsideCRM has compiled the 20 Worst VC Deals of All Time. Heavy emphasis on dollars invested, which is why the top two are Amp’D Mobile and Procket.

* United Rentals is suing Cerberus for bailing on its buyout agreement. It basically alleges that the pullout is primarily to negotiate a lower price, which is a violation of good faith. Download the full complaint here. URI_Cerberus.pdf.

* Will covenant-lite loans reduce recovery rates?

* The BVCA today is issuing a voluntary code of conduct, which it says is a major concession. Not surprisingly, its critics don’t think it goes far enough. It also is intended to cover sovereign wealth funds and folks like Richard Branson.

* A $4 billion Chrysler loan sale is postponed. Where are all of those “credit opportunity” funds?