Restructuring

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The 2024 Distressed Investing Conference

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.”

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The Rise and Fall of SunPower (SPWR)

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.

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The Infamous Hertz Restructuring, Who Laughs Last Laughs Best

The Infamous Hertz Restructuring, Who Laughs Last Laughs Best

An abrupt pandemic-driven bankruptcy, audacious equity raise, and the legal complications of “make-whole” fees.

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

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Cooperation Agreements, Overview and Effectiveness in Restructuring Situations
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Cooperation Agreements, Overview and Effectiveness in Restructuring Situations

Today, we will shift focus to how creditors have responded to LMEs. Until now, creditors had no choice but to watch sophisticated sponsors handpick a select few who would receive preferential treatment. Distrust ran through messy, unorganized capital structures. But what if creditors could defend themselves as a unified group?

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Expedia Deep Dive & COVID Rescue Financing
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Expedia Deep Dive & COVID Rescue Financing

Sometimes restructuring transactions actually work and save the day!

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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.

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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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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.

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The Untold Story of ESL Investments and the Great Decline of Sears
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The Untold Story of ESL Investments and the Great Decline of Sears

The 35-year story that involves two major bankruptcies and countless corporate transactions, including "The Next Warren Buffett" and the kidnapping of an executive

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Special Purpose Entities
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Special Purpose Entities

A simple walkthrough of SPEs to help you better understand non-debtor entities and corporate structures more generally

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What is Synthetic PIK?
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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