Out-of-court

IndustrialsTech, Media & TelecomKKRTechnical LessonConsumer & RetailDeep DivesVistaIn-CourtAresEnergy / PowerMacquarieHealthcareClearlakeLiquidationPersonalAngelo GordonSearchlightOtherApolloOut-of-court HPS OaktreeFinancials
KKRKKR
+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

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
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

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

Consumer & RetailConsumer & Retail
+2+2
Saks Global Restructuring, A Thrilling 2025 Saga

Saks Global Restructuring, A Thrilling 2025 Saga

An analysis of Saks Global’s vendor payment delays, loose bond indentures, and coercive uptier exchange transaction

Tech, Media & TelecomTech, Media & Telecom
+3+3
Caught Offside, an Inter-Oaktree Loan Case Study

Caught Offside, an Inter-Oaktree Loan Case Study

A comprehensive overview of soccer in distress, plus a note on Manchester United’s covenants

IndustrialsIndustrials
+4+4
What is the Hunter-gatherer LMT and analysis of the Ardagh-Apollo deal
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What is the Hunter-gatherer LMT and analysis of the Ardagh-Apollo deal

Primer, Simplified Example, Case Study Deep Dive, Uptier Comparison

IndustrialsIndustrials
+2+2
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

OtherOther
+1+1
2025 Wharton Distressed Investing and Restructuring Conference Recap
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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