Restructuring Report

This episode covers key developments in four major restructuring and bankruptcy cases: Cumulus Media , operator of 394 radio stations nationwide, files a prepackaged Chapter 11 in Houston with a deal to eliminate approximately $592 million in debt , reduce annual interest expense by nearly $49 million , and hand 95% of the reorganized equity to secured lenders. The filing marks the broadcaster’s s...

This episode covers key developments in four major restructuring and bankruptcy cases: Hawthorne Race Course , North America’s oldest family-owned racetrack, files for Chapter 11 in Illinois while pursuing a Section 363 sale of substantially all assets. The filing follows frozen bank accounts, the loss of a key sportsbook partner, and a sharp drop in wagering deposits, with the company securing $1...

This episode covers key developments in four major restructuring and bankruptcy cases: Avenger Flight Group , a global aviation simulator and flight training provider, files for Chapter 11 in Delaware with approximately $273 million in secured debt , backed by $43.5 million in DIP financing from prepetition lenders who will serve as stalking horse bidders in a credit bid sale process. The filing f...

This episode covers key developments in six major restructuring and bankruptcy cases: Nine Energy Service files a prepackaged Chapter 11 with support from more than 70% of its senior secured noteholders, seeking to eliminate $319 million in secured debt through a full debt-for-equity conversion while preserving approximately 1,100 jobs and targeting a rapid 31-day exit from bankruptcy. Bitcoin min...

This episode covers key developments in five major restructuring and bankruptcy cases: Multi-Color Corporation files a prepackaged Chapter 11 plan to eliminate $3.9 billion in debt , backed by its private equity sponsor and a supermajority of first-lien lenders, while securing $889 million in new funding and paying general unsecured creditors in full. An Arizona luxury resort developer , F-Star So...

This episode covers key developments in four major restructuring and bankruptcy cases: Tonopah Solar Energy files for Chapter 11 for the second time in six years, seeking $10 million in DIP financing from an affiliate lender as persistent technical failures cut output at its pioneering molten-salt solar facility and a broad marketing process fails to produce a stalking horse bidder. The Franciscan...

This episode covers key developments in four major restructuring and bankruptcy cases: A federal bankruptcy appeals panel affirms dismissal of Reno City Center Owner LLC’s Chapter 11 case , clearing the way for a $42 million refinancing outside of bankruptcy after rejecting arguments that the dismissal improperly favored certain creditors over others. The Chapter 11 trustee for Beverly Community H...

This episode covers key developments in four major restructuring and bankruptcy cases: Hearthside Food Solutions faces a pivotal Texas court ruling that sharply limits post-confirmation bankruptcy jurisdiction , with the court holding it lacks authority to enforce post-confirmation contractual obligations that do not affect plan implementation—while leaving the door open for fraud claims tied to t...

This episode covers key developments in four major restructuring and bankruptcy cases: Artist & Craftsman Supply files for Chapter 11 in Maine just before the holidays, seeking court approval to continue operations, pay employees and vendors, and honor $715,000 in outstanding gift card balances to sustain its 18-store art and craft retail business.  Luminar Technologies proposes a $110 million...

This episode covers key developments in four major restructuring and bankruptcy cases: Bravo Brio Restaurants details a reorganization plan that would transfer ownership of its 48 Italian dining locations to senior lender GPEE, providing unsecured creditors with a $750,000 distribution from the sale of a New Jersey liquor license—the only recovery available compared to a zero-return Chapter 7 outc...

This episode covers key developments in five major restructuring and bankruptcy cases: Spirit Airlines seeks court approval for a $140 million engine settlement with International Aero Engines to resolve disputes stemming from the Pratt & Whitney engine crisis that grounded much of its fleet. The agreement includes engine credits, replacement leases, and new purchase commitments as the airline...

This episode covers key developments in five major restructuring and bankruptcy cases: Lugano Diamonds seeks approval for $12 million in DIP financing from majority owner Compass Group Diversified Holdings to sustain operations through the 2025 holiday season and support an orderly liquidation through Enhanced Retail Funding. Warner Bros. Entertainment challenges an $18.5 million film rights sale...

This episode covers key developments in five major restructuring and bankruptcy cases: Office Properties Income Trust moves to sell a vacant Tempe, Arizona office complex for $11 million to Opus Development, the only bidder willing to assume carrying costs and proceed without parking contingencies, as the company seeks to streamline operations in Chapter 11. First Brands Group’s affiliate Broad St...

This episode covers key developments in four major restructuring cases: Office Properties Income Trust seeks approval for a $125 million DIP facility with a unique feature allowing full conversion to equity upon emergence . Groff Tractor Mid Atlantic proposes a three-member Restructuring Committee to oversee the sale of its CASE construction equipment dealerships across the Mid-Atlantic region. In...

This episode breaks down key developments in the following restructuring cases:  Eastern Mountain Sports and Bob’s Stores advance toward liquidation under parent company Mountain Sports LLC’s Delaware plan, with unsecured creditors projected to recover less than 3% as the committee urges approval.  Big Lots seeks conversion from Chapter 11 to Chapter 7 after administrative expenses surpass $60 mil...

This episode breaks down key developments in the following restructuring cases:  Claire’s Holdings charts an unexpected turnaround , moving from full-chain liquidation to a creditor-backed reorganization.  Lodging Enterprises advances a liquidation plan following a $91 million credit-bid sale of its hotel portfolio.  SilverRock Development battles over a disputed 99-year “Luxury Lease” that could...

This episode breaks down key developments in the following restructuring cases: A bankruptcy court blocks the State of Texas from using pre-2009 conduct by “Old GM” in its data privacy lawsuit against General Motors, reaffirming the scope of successor liability protections from GM’s 2009 Chapter 11 restructuring. BH Downtown Miami, LLC , the owner of a luxury Biscayne Bay hotel , proposes a Sotheb...

This episode breaks down key developments in the following restructuring cases: Rite Aid seeks urgent court approval to sell its remaining preference claims before key prosecution deadlines expire, aiming to generate immediate liquidity for creditors. CTL-Aerospace pushes for a rapid asset sale to meet tight financing milestones and preserve core manufacturing operations. Powin Energy files a join...

This episode breaks down key developments in the following restructuring cases: TPI Composites creditors challenge a $400 million Oaktree-led uptier financing deal, alleging unfair treatment and insider favoritism in the wind energy manufacturer’s Chapter 11 case.   The Rite Aid Bankruptcy Trust files suit against Walgreens , seeking tens of millions in reimbursement for opioid litigation costs ti...

This episode breaks down key developments in the following restructuring cases: The ConvergeOne confirmation order is overturned after a District Court finds unequal treatment among creditor classes, raising new questions about fairness in plan structure.   The DC Solar bankruptcy sees a major reversal as a Nevada court reclassifies tax priorities, potentially blocking a $90 million creditor distr...

This episode breaks down key developments in the following restructuring cases: The Oakland Diocese moves to dismiss its own Chapter 11 case after $29 million in losses and failed settlement talks with abuse survivors. Pinstripes Entertainment files for bankruptcy and pursues a fast-track asset sale to preserve 900 jobs and sustain its “eatertainment” concept. Alachua Government Services , a biolo...

This episode breaks down key developments in the following restructuring cases: Avon wins conditional court approval for its talc liability plan, despite ongoing insurance disputes. Claire’s seeks creditor approval for a $140 million going-concern sale to preserve its retail footprint and workforce. ModivCare files for Chapter 11 with a plan to cut $1.1 billion in debt , aiming to stabilize its he...

This episode breaks down key developments in the following restructuring cases: FTX Recovery Trust moves to cut $1.93B in disputed claims , potentially speeding up payouts to creditors. 23andMe’s $305M asset sale approved despite privacy concerns over genetic data. CareerBuilder & Monster.com’s parent company files for Chapter 11 amid falling ad revenue and new competition. Higher Ground Educa...