Restructuring Report

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 million in tax attributes, and utilizes a unique DIP-to-exit financing structure that replaces cash re...

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 and litigation. West Marine, the boating and watersports retailer operating more than 200 stores n...

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 stay to non-debtors in the Genesis Healthcare case, ruling that the bankruptcy court failed to fo...

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 approval of a $100 million credit bid backstop sale, positioning its lender to acquire the business...

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 litigation continues on the remainder. Bravo Brio Restaurants secures confirmation of its Chapter 11 plan a...

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: 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 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 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: 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: 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: 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 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...