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The Cryptocurrency Industry and Its Distressed Cycles

Mar 14, 2025

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20 min read

The Cryptocurrency Industry and Its Distressed Cycles

Business Models, What is Value, the 2022 Crypto Winter and Distress, Summer of Bankruptcies

Other

2025 Wharton Distressed Investing and Restructuring Conference Recap

Mar 7, 2025

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11 min read

2025 Wharton Distressed Investing and Restructuring Conference Recap

LMEs: the past, present, and future (LME 3.0), structured finance, cross-borders restructurings, and bankruptcy for early-stages companies

Other

Breaking down Insurance / Reinsurance to Understand LA Fires

Feb 28, 2025

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8 min read

Breaking down Insurance / Reinsurance to Understand LA Fires

We will learn the complexities of insurance, explain the developing situation in the distressed Los Angeles home insurance market, and explore the future problems

Other

Bargaining in Bankruptcy: Unions and Chapter 11

Feb 21, 2025

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9 min read

Bargaining in Bankruptcy: Unions and Chapter 11

“Corporate bankruptcy law in the U.S. is a joke” the story of this historic sentence

Consumer & Retail

Neiman Marcus Restructuring and the ill-famed myTheresa Spin-off

Feb 14, 2025

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24 min read

Neiman Marcus Restructuring and the ill-famed myTheresa Spin-off

From some hot-potato PE and a contentious drop-down LME, to a COVID-driven luxury retail bankruptcy, and criminal-bid-rigging charges, the drama of Neiman’s restructuring is unmatched, with implications reverberating throughout the restructuring arena.

Technical Lesson

Management Compensation: Primer on Aligning Incentives in Bankruptcy

Feb 7, 2025

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5 min read

Management Compensation: Primer on Aligning Incentives in Bankruptcy

The Role of Managers, Retaining Key Talent in Bankruptcy + Exactech: A Case Study in Zero-Sum Bankruptcy

Consumer & Retail

Red Lobster, a Case of Predatory Private Equity (Not Shrimp)

Jan 31, 2025

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20 min read

Red Lobster, a Case of Predatory Private Equity (Not Shrimp)

Did you really think shrimp killed this business?

Other

NVR Deep Dive, From Chapter 11 to a 1,000 Bagger

Jan 24, 2025

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13 min read

NVR Deep Dive, From Chapter 11 to a 1,000 Bagger

How a failed business became one of the best compounders ever

Consumer & Retail

Jan 17, 2025

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9 min read

Serta is Back, Baby

The 2020 Transaction, Permissibility and Litigation, Indemnification of Uptier Litigation, 5th Circuit Review, Credit Language and LME Implications

Deep Dives

Jan 10, 2025

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10 min read

The Downfall of Rite Aid (RAD)

Overview of Rite Aid, Signs of Distress, Alternatives to Chapter 11, 2.0 Plan, 363 Asset Sale of Elixir, and many more topics

Healthcare

Retail Pharmacy: Deep Dive, Headwinds, and Distress

Jan 3, 2025

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14 min read

Retail Pharmacy: Deep Dive, Headwinds, and Distress

Key Players, The Unit Economics of a Pharmacy, Comparison of Business Models, Factors Behind Financial Distress, Solutions to Address Liquidity Crunch

Personal

Dec 27, 2024

•

17 min read

2024 Pari Passu Year-End Letter #2

Behind the Scenes of your Favorite Newsletter, Key Stats, Best Posts of 2024, and Fun Facts

Other

The 2024 Distressed Investing Conference

Dec 20, 2024

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11 min read

The 2024 Distressed Investing Conference

After all, more business is won by framing advisory as “we have some ideas that will allow you to reconstitute your balance sheet with willing participants” as opposed to “hire us because we are the best at helping you hand the keys to creditors.”

Other

Dec 13, 2024

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12 min read

Sonos ($SONO) Deep Dive

Started with a simple idea: to make it easy for people to listen to any song in any room of their home without hassle. Evolved with a fascinating example of flywheel.

Deep Dives

Dec 6, 2024

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9 min read

The Rise and Fall of SunPower (SPWR)

From a meme stock short squeeze to even the auditor throwing in the towel, the story of SunPower does not lack heat. Let’s dive in.

Learn More

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The Cryptocurrency Industry and Its Distressed Cycles

2025 Wharton Distressed Investing and Restructuring Conference Recap

Breaking down Insurance / Reinsurance to Understand LA Fires

Bargaining in Bankruptcy: Unions and Chapter 11

Neiman Marcus Restructuring and the ill-famed myTheresa Spin-off

Management Compensation: Primer on Aligning Incentives in Bankruptcy

Red Lobster, a Case of Predatory Private Equity (Not Shrimp)

NVR Deep Dive, From Chapter 11 to a 1,000 Bagger

Serta is Back, Baby

The Downfall of Rite Aid (RAD)

Retail Pharmacy: Deep Dive, Headwinds, and Distress

2024 Pari Passu Year-End Letter #2

The 2024 Distressed Investing Conference

Sonos ($SONO) Deep Dive

The Rise and Fall of SunPower (SPWR)

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