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Stretto’s Restructuring Report is a podcast featuring notable stories curated by professionals, and powered by Stretto Intelligence. Join us each week for highlights, updates, and news impacting restructuring professionals.
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25 Episodes
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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 LYCRA Company files a prepackaged Chapter 11 to eliminate approximately $1.2 billion in debt, backed...
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 management—as the debtor-in-possession. In the Archdiocese of New Orleans bankruptcy, the court finds t...
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 second bankruptcy in seven years, driven by declining ad revenue, digital competition, and disputes o...
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 $16 million in DIP financing and prioritizing purse payments to horsemen as it works to preserve its...
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 follows rapid, debt-fueled expansion and reduced demand for A320 simulator training after Pratt &...
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 mining company NFN8 Group enters Chapter 11 after a catastrophic fire at its Texas facility cut mini...
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 Socorro, seeks approval for $32 million in replacement DIP financing tied to its Ritz-Carlton-branded...
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 Friars of California seek emergency court approval to liquidate investment assets and access res...
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 Hospital Association seeks conversion to Chapter 7 liquidation after recovering more than $40 milli...
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 the bankruptcy process itself. The liquidation trustee for National Realty Investment Advisors seek...
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 liquidation plan following its December bankruptcy filing, with a semiconductor subsidiary ...
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 outcome The Archdiocese of New Orleans secures confirmation of its $230 million reorganization ...
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 works to stabilize operations. SilverRock Development proposes a liquidation plan following the ...
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 to Alcon Media Group, offering a higher bid and arguing the transaction violates bankruptcy restr...
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 Street Financial faces a challenge from lender Aequum Capital, which seeks dismissal of its bankrup...
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 Boston, The Bon Morro apartment complex files for Chapter 11 amid a dispute over restrictive grou...
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 million, arguing a trustee can more efficiently conclude the wind-down. Restaurant c...
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 make or break its asset sale. RunItOneTime seeks approval for a $1.05 million...
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 Sotheby’s-run international auction as part of its Chapter 11 case, seeking to attract global bidders w...
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 joint liquidation plan after $54 million in asset sales, marking the wind-down of a once-promising en...
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