Deep Dives

IndustrialsTech, Media & TelecomKKRTechnical LessonConsumer & RetailDeep DivesVistaIn-CourtAresEnergy / PowerMacquarieHealthcareClearlakeLiquidationPersonalAngelo GordonSearchlightOtherApolloOut-of-court HPS OaktreeFinancials
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+5+5
Thames Water Part 3, The Last Drops?

Thames Water Part 3, The Last Drops?

A debt-ridden utility caught up between hedge funds fighting for scraps, all while the public watches on

Deep DivesDeep Dives
+4+4
Thames Water Part 2, Sink or Swim?
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Thames Water Part 2, Sink or Swim?

The years that pushed Britain’s biggest utility to an all out national crisis

Deep DivesDeep Dives
+4+4
Thames Water Part 1, How the Tap Ran Dry
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Thames Water Part 1, How the Tap Ran Dry

From a privatization dream to a public liability nightmare, an in-depth analysis of the utility giant’s unravelling

Consumer & RetailConsumer & Retail
+2+2
The Container Store’s Prepack Chapter 11: From Organization to Reorganization
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The Container Store’s Prepack Chapter 11: From Organization to Reorganization

A commoditized product set and intense e-commerce competition that ultimately pushed The Container Store into bankruptcy, and a prepack to extend looming maturities

Deep DivesDeep Dives
+2+2
Better Health: Liability Management’s Post-Serta Prototype
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Better Health: Liability Management’s Post-Serta Prototype

How a physician rollup became the first test of the “Extend-and-Exchange” LME

Deep DivesDeep Dives
+2+2
Bausch Health: A Restructuring Story Still Unfolding

Bausch Health: A Restructuring Story Still Unfolding

How the Pharmaceutical Enron restructuring solved the near-term debt wall, but the endgame is still uncertain

Tech, Media & TelecomTech, Media & Telecom
+3+3
Core Scientific: The $9 Billion AI Comeback Story

Core Scientific: The $9 Billion AI Comeback Story

How one of America’s largest bitcoin miners reinvented itself through Chapter 11

Consumer & RetailConsumer & Retail
+3+3
Bed Bath & Bankrupt

Bed Bath & Bankrupt

How a failed private-label strategy, aggressive financial engineering, and eroded stakeholder confidence led to Bed Bath & Beyond Inc.’s liquidation

Tech, Media & TelecomTech, Media & Telecom
+3+3
One Identity, Five Tranches: The Quest Software LME

One Identity, Five Tranches: The Quest Software LME

How cooperation agreements, extensive pre-process, and voluntary subordination are shaping the next phase of sponsor-backed LMEs

Consumer & RetailConsumer & Retail
+3+3
Bird Global: From VC Unicorn to Chapter 11

Bird Global: From VC Unicorn to Chapter 11

What began as the fastest unicorn in VC history ended with a bankruptcy filing, a 97% shareholder wipeout, and Apollo walking away with the keys

IndustrialsIndustrials
+2+2
(G)rounded, (O)verleveraged, and (L)anding in Chapter 11: GOL Restructuring Deep Dive

(G)rounded, (O)verleveraged, and (L)anding in Chapter 11: GOL Restructuring Deep Dive

Low-cost carrier business models, the Boeing 737 MAX crisis, and a fascinating case of FX volatility-related airline bankruptcy

IndustrialsIndustrials
+3+3
American Tire Distributors, In-Court LME

American Tire Distributors, In-Court LME

How ATD’s bankruptcy reshaped DIP financing and signaled a shift toward intra-class conflict in Chapter 11