Restructuring

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

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Management Compensation: Primer on Aligning Incentives in Bankruptcy
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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

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

Did you really think shrimp killed this business?

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The 2024 Distressed Investing Conference
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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)
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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
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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)

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.