Trinseo, a Double Dip "Pari-Plus" Case Study
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Trinseo, a Double Dip "Pari-Plus" Case Study

Today, we are going to look at another variation of the double-dip: the pari-plus transaction by analyzing the fascinating restructuring of Trinseo.

Double-Dip Explained Simple
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Double-Dip Explained Simple

Today’s restructuring world is highly complex. Uptier and Dropdown were the first versions of liability management transactions we saw. In the past few years, we have seen a new breakthrough in liability management transactions: double-dips.

Triple Dip Primer and Spirit Analysis
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Triple Dip Primer and Spirit Analysis

In this paper, we will first understand how triple-dips could be created. Then, we will analyze the real world case of Spirit Airlines and see the potential of the triple-dip as a revolutionary liability management maneuver.

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What is Synthetic PIK?

The evolution of the private credit industry, the creation of the synthetic PIK, and the implications of this “creative” financing structure

Pluralsight, the Restructuring Deal of 2024 (Special 100th Edition)

A cocktail of restructuring, private equity, and private credit. Let's enjoy the 100th Pari Passu Edition

(Trash)io: The Stumble from Scale and Short-Term Solutions

From doubling revenue every 73 days for years to Chapter 11

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(Trash)io: The Stumble from Scale and Short-Term Solutions

(Trash)io: The Stumble from Scale and Short-Term Solutions

From doubling revenue every 73 days for years to Chapter 11

Restructuring LessonRestructuring Lesson
Section 365 Primer and Express Chapter 11 Case Study

Section 365 Primer and Express Chapter 11 Case Study

Executory Contracts, Unexpired Leases, Considerations, Store Economics

Restructuring Deep DiveRestructuring Deep Dive
PPP: Zips Car Wash, a Quick Private Credit Chapter 11

PPP: Zips Car Wash, a Quick Private Credit Chapter 11

A case study in how opaque private credit markets can distort risk, delay recognition of impairment, and mislead investors to the real credit quality of their portfolios

Restructuring Deep DiveRestructuring Deep Dive
Graftech, Credit Analysis to Break Down the Out-of-Court Restructuring

Graftech, Credit Analysis to Break Down the Out-of-Court Restructuring

How To Read A Credit Doc & Structural and Legal Considerations

Restructuring Deep DiveRestructuring Deep Dive
Too Broke to Smile: SmileDirectClub Chapter 11 Deep Dive

Too Broke to Smile: SmileDirectClub Chapter 11 Deep Dive

A litigation-riddled company, challenges in healthcare regulations, and the fascinating dynamic of insider structures within a Chapter 11 bankruptcy.

Restructuring LessonRestructuring Lesson
Equitable Subordination Primer and LightSquared Case Study
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Equitable Subordination Primer and LightSquared Case Study

Billionaires Fighting in Bankruptcy Court

Tuesday Morning, or Tuesday Mourning? Restructuring Deep Dive
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Tuesday Morning, or Tuesday Mourning? Restructuring Deep Dive

A retail Chapter 22 bankruptcy with more disputes than a clearance aisle.

The Evolution of CLOs and their Role in Restructuring Scenarios
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The Evolution of CLOs and their Role in Restructuring Scenarios

Not to be confused with Collateralized Debt Obligations (CDOs)!

No Room to Vent: First HVAC Roll-Up to File for Chapter 11

No Room to Vent: First HVAC Roll-Up to File for Chapter 11

Premium: A failed HVAC roll-up that allows us to examine the necessity of successful business integration and healthy cash flows

Restructuring Deep DiveRestructuring Deep Dive
Talen Restructuring, Powering Through Bankruptcy
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Talen Restructuring, Powering Through Bankruptcy

Talen’s financial distress, the key legal and financial maneuvers used during its restructuring, and the broader implications of its remarkable turnaround

Enviva Restructuring, Getting Burned Selling Pellets
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Enviva Restructuring, Getting Burned Selling Pellets

How trying to meet contractual demand led to complete equity wipeout

FTX Restructuring, Falling from Grace
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FTX Restructuring, Falling from Grace

"Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here"

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