Restructuring Report

This episode covers key developments in three major restructuring and bankruptcy cases: airBaltic , Latvia’s flag carrier, files for Chapter 11 in New York with approximately $584 million in funded debt and significant aircraft lease obligations after soaring fuel prices and limited hedging sharply strained liquidity. The airline plans to return surplus aircraft, reduce its fleet from 54 planes to...

This episode covers key developments in three major restructuring and bankruptcy cases: Spirit Airlines’ proposed $10 million sale of corporate data to Google faces six objections and joinders over employee privacy, aviation safety records, and proprietary third-party information. The contested data set includes records tied to roughly 190 million passenger flights and hundreds of millions of corp...

This episode covers key developments in three major restructuring and bankruptcy cases: Sleep Number Corporation files a Chapter 11 liquidation plan following the sale of nearly all its operating assets to an affiliate of Sleep Country Canada. The company is also seeking approval for a $153.5 million cash payment to prepetition lenders , while unsecured creditors would share remaining value throug...

This episode covers key developments in three major restructuring and bankruptcy cases: A Puerto Rico bankruptcy court confirms the Grupo HIMA San Pablo liquidation plan and upholds its opt-out third-party releases , finding that creditors who received clear disclosure and failed to opt out could be deemed to have consented. The decision addresses an issue left open by the Supreme Court’s Purdue P...

This episode covers key developments in three major restructuring and bankruptcy cases: Braskem Idesa , Mexico’s primary polyethylene supplier, files a prepackaged Chapter 11 in Houston with approximately $3.6 billion in debt , after years of declining ethane deliveries from Pemex dramatically increased production costs. Backed by approximately $409 million in DIP financing , the plan would elimin...

This episode covers key developments in two major restructuring and bankruptcy cases: A creditor in the American Efficient bankruptcy seeks appointment of a Chapter 11 trustee or independent examiner , citing federal regulatory findings that an affiliate allegedly sold nearly two gigawatts of “fake capacity” and received roughly $500 million in capacity payments . The motion also raises concerns o...

This episode covers key developments in three major restructuring and bankruptcy cases: The Archdiocese of Baltimore sees both competing disclosure statements rejected, with the bankruptcy court finding that neither provides adequate information and that each describes a patently unconfirmable plan . The ruling highlights disputes over insurance trust assets, classification of unsecured claims, an...

This episode covers key developments in three major restructuring and bankruptcy cases: Alkegen , a global manufacturer of high-performance industrial fibers, files a prepackaged Chapter 11 designed to eliminate approximately $3.1 billion in funded debt . Backed by overwhelming lender support and a $630 million DIP facility , the plan would reduce term debt to roughly $400 million, preserve trade...

This episode covers key developments in three major restructuring and bankruptcy cases: Alea Holdings files a prearranged Chapter 11 to complete a restructuring that failed outside of bankruptcy—not because creditors objected, but because 40% of trust preferred security holders never responded . The case highlights how Chapter 11 can bind nonresponsive creditors and facilitate a consensual restruc...

This episode covers key developments in two major restructuring and bankruptcy cases: The Celsius Network bankruptcy produces a landmark ruling establishing the first judicial framework for valuing appreciating cryptocurrency in clawback actions . The court rejects a one-size-fits-all approach, instead adopting a fact-specific methodology that ties recoveries to whether digital assets were held, s...

This episode covers key developments in four major restructuring and bankruptcy cases: Central Falls Detention Facility Corporation , operator of Rhode Island’s Donald W. Wyatt Detention Facility, files a prearranged Chapter 11 to restructure more than $167 million in bond debt , using Chapter 11 rather than Chapter 9 to reduce bond principal by approximately 60% while resolving long-running litig...

This episode covers key developments in four major restructuring and bankruptcy cases: DISH D.B.S. Corporation files a dual-track Chapter 11 that separates its Pay-TV and wireless businesses, combining a prepackaged plan to reduce $9.75 billion in debt with a Section 363 sale of its 5G network. The restructuring follows multibillion-dollar spectrum sales and establishes a $2.4 billion trust to res...

This episode covers key developments in three major restructuring and bankruptcy cases: In the long-running A&P bankruptcy , a New York court issues a series of rulings that reduce a $68 million preference recovery effort to just $3.3 million , drawing a sharp line between routine commercial payments protected by Bankruptcy Code defenses and transfers tainted by creditor pressure, altered paym...

This episode covers key developments in three major restructuring and bankruptcy cases: Sleep Number Corporation files for Chapter 11 with a stalking horse bid of $415 million , launching an expedited sale process that leaves a $257.5 million shortfall against secured debt and raises immediate challenges from the U.S. Trustee over roll-up financing, critical-vendor payments, and the absence of val...

This episode covers key developments in two major restructuring and bankruptcy cases: Inotiv , a global contract research organization serving the pharmaceutical and biomedical research industries, files a prepackaged Chapter 11 designed to eliminate approximately $325 million in funded debt . Backed by overwhelming creditor support, the plan converts debt into equity, preserves more than $300 mil...

This episode covers key developments in three major restructuring and bankruptcy cases: Miyoshi America advances what it describes as a first-of-its-kind prepackaged talc bankruptcy plan , using Section 524(g) to channel present and future talc claims into a trust funded primarily by its Japanese parent, with more than 99% support from voting talc claimants and no nonconsensual third-party release...

This episode covers key developments in four major restructuring and bankruptcy cases: Bitcoin Depot , the largest Bitcoin ATM operator in North America, files for Chapter 11 in Houston with plans to wind down operations and sell substantially all assets after identity-verification requirements triggered a dramatic collapse in transaction volume and profitability amid mounting regulatory scrutiny...

This episode covers key developments in four major restructuring and bankruptcy cases: Spanish Broadcasting System , the Spanish-language media company behind Mega TV and La Musica, files a pre-packaged Chapter 11 to restructure approximately $310 million in secured notes , with noteholders set to take ownership of the reorganized company through a debt-for-equity exchange. YesCare Corp. and affil...

This episode covers key developments in four major restructuring and bankruptcy cases: Spirit Airlines moves to sell or abandon its remaining fleet following a full operational shutdown, seeking emergency court approval to dispose of aircraft, engines, and spare parts as surging fuel costs rendered its reorganization plan unworkable. A federal district court vacates the extension of the automatic...

This episode covers key developments in three major restructuring and bankruptcy cases: FreshRealm , a fresh food manufacturer supplying major partners like Blue Apron and Walmart, files for Chapter 11 after a series of Listeria outbreaks wiped out roughly 90% of its revenue , entering with $168 million in secured debt , a $63 million DIP facility , and a stalking horse sale to Misfits Market as i...

This episode covers key developments in four major restructuring and bankruptcy cases: Artist & Craftsman Supply files a disclosure statement projecting a 100% recovery for all creditor classes , outlining a reorganization plan that preserves its remaining retail footprint while demonstrating significantly higher recoveries than a Chapter 7 liquidation. Carbon Health Technologies seeks court a...

This episode covers key developments in four major restructuring and bankruptcy cases: Office Properties Income Trust heads toward confirmation of its $2.4 billion restructuring , following extensive intercreditor disputes and a series of settlements that stabilized enterprise value and reduced leverage through conversion of its DIP facility into equity, leaving unsecured noteholders with modest r...

This episode covers key developments in four major restructuring and bankruptcy cases: A Delaware bankruptcy court issues a mixed ruling on Yellow Corporation’s $1.44 billion pension settlements , approving agreements with thirteen plans while rejecting three that deviated from a standardized valuation methodology or included excessive damages, allowing approved settlements to proceed as litigatio...

This episode covers key developments in four major restructuring and bankruptcy cases: The Uncle Nearest whiskey company’s Chapter 11 cases are dismissed just two days after filing , with the court ruling that a court-appointed receiver—already in place from prior litigation—held exclusive authority to commence bankruptcy, underscoring the limits of debtor control in receivership scenarios. The LY...

This episode covers key developments in four major restructuring and bankruptcy cases: A Puerto Rico bankruptcy court rules that the automatic stay does not block a regulator’s enforcement action against The Phoenix Fund, holding that the island’s financial regulator may continue liquidation proceedings under the police power exception , and recognizing the court-appointed receiver—not prior manag...