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US Post Petition: Zips Car Wash lines up speedy chapter 11 to implement debt-for-equity swap, wipe out unsecureds

This is a preview of LevFin Insights’ new bankruptcy product, LFI US Post Petition News. To maintain access to this coverage after the…
February 7, 20255 min Read More

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EMEA Insight: LMEs made up over two-thirds of defaults in Europe in 2024

A surge in liability management exercises (LMEs) drove defaults in the European market in 2024. Data on distressed debt exchanges…
February 7, 20254 min Read More

Opus Connect Private Debt Deal Connect and Summit: Optimism for dealmaking circulates ahead of New York Conference

A month into 2025 and there is still plenty of anxiousness surrounding M&A. When will it happen? Will the valuation…
February 4, 20252 min Read More

US/EMEA Special Situations: Walgreens suspends dividends

Walgreens suspended its cash dividends paid on a quarterly basis, according to a company press release. The decision aims to strengthen its…
January 31, 20252 min Read More

US Bankruptcy: The Container Store gets confirmation of plan of reorganization, handing equity to DIP lenders

This is a preview of LevFin Insights’ new bankruptcy product, LFI Postpetition News. To maintain access to this coverage after the trial period…
January 31, 20252 min Read More

US/EMEA Special Situations: Negotiations between Altice France and its AHG continue as conclusion nears

The back and forth of proposals between Altice France and its ad hoc group of secured creditors continues, but negotiations between the…
January 24, 20252 min Read More

US Bankruptcy: Tupperware files chapter 11 plan following Dechert-led group credit bid transaction

Related Documents: Disclosure Statement Chapter 11 Plan Tupperware filed its chapter 11 plan and disclosure statement in the Delaware Bankruptcy Court,…
January 17, 20252 min Read More

US Bankruptcy: JOANN files ‘chapter 22’ bankruptcy in Delaware just eight months after exiting first restructuring; Gordon Brothers to lead auction with liquidating bid

Related documents:  Petition First day declaration Cash collateral motion Bid procedures motion Eight months after exiting chapter 11 with a…
January 17, 20254 min Read More

US Bankruptcy: Ligado Networks blames U.S. government for liquidity woes, seeks $939mn DIP – Quick Takes

Related Documents: Declaration of Douglas Smith CEO Motion to Approve DIP Ligado Networks' prearranged chapter 11 in the Delaware Bankruptcy Court…
January 10, 20255 min Read More

US Special Situations: Litigation against Mitel, Searchlight and lenders thrown out by NY appeals court

Related documents:  Ruling A New York appellate court has issued a ruling throwing out claims in uptier litigation against Mitel, owner Searchlight…
January 3, 20254 min Read More

US Special Situations: Empire Today enters new credit facility

Empire Today LLC, also known as Empire Carpet® and Empire Flooring® ("Empire" or "the Company"), the country's largest shop-at-home, direct-to-consumer…
November 22, 20242 min Read More

US Special Situations: Spirit Airlines files Chapter 11 in SDNY with $300mn DIP financing from existing bondholders

DANIA BEACH, Fla., Nov. 18, 2024 /PRNewswire/ -- Spirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE) today announced that it has…
November 22, 20245 min Read More

US Bankruptcy: Wellpath secured lenders to take control via sale and restructuring — Quick Take

Related Documents: Declaration of Timothy Dragelin – CRO RSA Motion to Obtain Post-Petition Financing Motion to Approve Stalking Horse Bid…
November 15, 20244 min Read More
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US Bankruptcy: Tupperware sells company to lenders Stonehill, Alden, BAML, Strategic Investments via credit bid

Related Documents: Sale Order Asset Purchase Agreement Tupperware secured court approval today from Judge Brendan Shannon of the Delaware Bankruptcy Court…
November 1, 20242 min Read More

US/EMEA Special Situations: Altice’s secured creditor group would prefer debt negotiations within a conciliation process to help stave off priming

Altice’s secured creditor group would prefer the struggling telecoms business to enter into a French conciliation process to negotiate a debt restructuring,…
October 25, 20245 min Read More

US Insight: The opaque side of BDCs, private credit’s most transparent market

The opacity of the private credit market has bedeviled investors and market observers for some time, and, to make matters…
October 22, 202413 min Read More

EMEA Special Situations: Intrum pre-pack chapter 11 follows months of talks with dissenting bondholders, who remain opposed to deal; first US court hearing scheduled for November 17 and confirmation hearing December 20

Intrum is pushing through its recap deal with a pre-packaged chapter 11 after months of talks with the dissenting 2025 bondholders…
October 18, 20243 min Read More

US Bankruptcy: Accuride files for chapter 11 with $30mn DIP financing – Press Release

LIVONIA, Mich., Oct. 9, 2024 /PRNewswire/ -- Accuride today announced its intention to restructure its North American business. The proposed restructuring, the…
October 11, 20243 min Read More

US Special Situations: ABI Views from the Bench – Conference Takeaways

LFI’s Special Situations team attended ABI’s Views from the Bench conference in Washington DC last Friday, where 20+ bankruptcy judges from around…
October 4, 20245 min Read More

US Bankruptcy: Third-party releases watchlist for a post-Purdue world

The Supreme Court’s recent Purdue Pharma decision has significantly impacted how bankruptcy courts address third-party releases in chapter 11 cases. The ruling…
September 27, 202416 min Read More

US/EMEA Special Situations: Altice France’s shorter-dated debt climbs on reports Altice is in talks with funds about raising new debt

Debt backing Altice France was mixed this afternoon, with its shorter-dated debt climbing and its longer-dated notes falling after Bloomberg reported that the company…
September 27, 20242 min Read More

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