Thames Water’s funding negotiations falter amid regulatory pushback. Negotiations to smooth the injection of a touted £500 mn equity injection, the first step in a more comprehensive funding package for…
Executive Summary Never much trusted by the HY market, Patrick Drahi’s Altice team plumbed new depths in laying out the bones of a coercive plot for creditor burden-sharing. Threatening creditors with…
Our reporters examine the impact of Altice France’s aggressive new stance. Altice France‘s bonds have continued to slide this morning after the sell-off prompted by yesterday’s investor call, as…
Executive Summary This note explores how Bestwall LLC, a Georgia Pacific subsidiary with over 64,000 asbestos claims against it, employed the so-called Texas Two-Step to file for bankruptcy and protect…
Executive Summary In this note we provide an update on certain activity in the SVB HoldCo bankruptcy case. SVB HoldCo is working closely with its creditor constituencies on a plan…
This report contains a summary of the pending LME transactions, its impact (if the transactions close as planned), and an FAQ from clients. Executive Summary Liability management offers limited…
Introductory Note On May 2, 2023, we issued a note entitled Make-Wholes in Bankruptcy: A General Primer (the “Primer”) that discussed what make-wholes are and how certain courts have interpreted them. In…