In-Court

Industrials

Multi-Color: A Sticky Situation (Special 200th Edition)

Jul 24, 2026

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36 min read

Multi-Color: A Sticky Situation (Special 200th Edition)

How CD&R wiped out nearly $4bn of debt and retained control of the world’s largest prime label manufacturer

Technical Lesson

Non-Pro-Rata Rewards In-Court: An Attempt to Loot Bankruptcy

Jul 17, 2026

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31 min read

Non-Pro-Rata Rewards In-Court: An Attempt to Loot Bankruptcy

A legal analysis of three key creditor attempts in 2025 to extract non-pro-rata rewards in Chapter 11

Veritas

Anthology: $1.6bn EdTech Roll-Up in Restructuring

Jul 14, 2026

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23 min read

Anthology: $1.6bn EdTech Roll-Up in Restructuring

From Veritas’ EdTech consolidation strategy to a $1.6bn capital structure unwind, Anthology’s distressed situation culminated in a costly lender-led takeover with a non-pro-rata Chapter 11 situation

Tech, Media & Telecom

ConvergeOne (C1): When Majority Control Meets Judicial Constraint

Jul 10, 2026

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26 min read

ConvergeOne (C1): When Majority Control Meets Judicial Constraint

How growing judicial scrutiny in-court prevents mmay ajority creditors from leveraging their voting power to capture outsized economics at the expense of similarly situated lenders

Deep Dives

Jun 19, 2026

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25 min read

Carestream: A Negative Film

How a turnaround buyout of an X-ray company turned into a two-decade battle against technological obsolescence

Tech, Media & Telecom

Cyxtera Technologies: A Data Center Business Built on the Wrong Real Estate

Jun 12, 2026

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26 min read

Cyxtera Technologies: A Data Center Business Built on the Wrong Real Estate

How the company’s leasing model pushed it into bankruptcy, then became one of the cleanest post-reorg turnarounds in years

Consumer & Retail

Hostess Brands: The Pension Liability That Ate Twinkies

May 29, 2026

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24 min read

Hostess Brands: The Pension Liability That Ate Twinkies

Understanding the Role of Multi-Employer Pensions in Hostess’s 2012 Chapter 22

Platinum Equity

May 8, 2026

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24 min read

LifeScan: Too Hard to Turn Around

How Platinum Equity's turnaround plan for a legacy medical device company ended up as a debt-to-equity swap

Industrials

United Site Services: A Royal Equity Flush

May 1, 2026

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25 min read

United Site Services: A Royal Equity Flush

How a $4bn portable bathroom continuation vehicle didn’t go as planned

Deep Dives

Apr 24, 2026

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28 min read

Sunnova: Too Close to the Sun

The collapse of America's second-largest residential solar provider in one of 2025's largest Chapter 11 restructurings

Deep Dives

Mar 27, 2026

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21 min read

23andMe: Predisposed to Bankruptcy

From a $6bn valuation to bankruptcy court: inside the collapse of a pioneer in direct-to-consumer genetic testing

Industrials

Jervois Global: Anatomy of a Commodity-Driven Chapter 11

Mar 24, 2026

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15 min read

Jervois Global: Anatomy of a Commodity-Driven Chapter 11

How an unexpected decline in commodity pricing and substantial capex needs led to Jervois’ bankruptcy

Deep Dives

Mar 20, 2026

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25 min read

ModivCare: A Drive to Bankruptcy Court

The rise and fall of America's largest medical transportation company

Consumer & Retail

Mar 3, 2026

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32 min read

Big Lots: Discounted Into Bankruptcy

Post-COVID retail market shift, capital allocation missteps, and a Chapter 11 that did not go as planned.

KKR

Del Monte Foods: From LME to Section 363

Feb 20, 2026

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29 min read

Del Monte Foods: From LME to Section 363

The Amazing Story of Del Monte’s Failed LME and Chapter 11

Consumer & Retail

Franchise Group: The Roll-Up That Collapsed in Bankruptcy and Reemerged as Fusion

Feb 10, 2026

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27 min read

Franchise Group: The Roll-Up That Collapsed in Bankruptcy and Reemerged as Fusion

How an aggressive group of structurally subordinated lenders turned a simple Chapter 11 into one of the messiest and most litigious bankruptcies of 2025

Deep Dives

Jan 27, 2026

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22 min read

Wellpath’s Chapter 11 Deep Dive

How inadequate care services and mass tort claims drove Wellpath to restructure under a Prepack Chapter 11 and Section 363 asset sale

Deep Dives

McDermott, A Cross-Border Double Restructuring

Jan 16, 2026

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26 min read

McDermott, A Cross-Border Double Restructuring

A classic case of leverage outpacing growth

Tech, Media & Telecom

Mitel Networks Deep Dive and Uptier Analysis

Jan 9, 2026

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24 min read

Mitel Networks Deep Dive and Uptier Analysis

A delayed pivot to the cloud and descent from a legally robust uptier into Chapter 11

Deep Dives

YesCare (Corizon Health): Texas Two-Step Case Study

Dec 12, 2025

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16 min read

YesCare (Corizon Health): Texas Two-Step Case Study

Substandard medical care, mass tort claims, and a Texas Two-Step case study.

Consumer & Retail

Rough Justice Resolution: Weight Watchers Prepackaged Chapter 11

Dec 5, 2025

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25 min read

Rough Justice Resolution: Weight Watchers Prepackaged Chapter 11

How impaired creditors may have marked a pragmatic alternative in bankruptcy

Deep Dives

Nov 28, 2025

•

25 min read

Intrum, a Transatlantic Turnaround

How a European Debt Collector Executed a Texas Prepack

Consumer & Retail

Washington Prime Group: From Tenant Churn to Balance-Sheet Failure

Nov 21, 2025

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21 min read

Washington Prime Group: From Tenant Churn to Balance-Sheet Failure

How a combination of secular headwinds and COVID-induced macroeconomic shock drove one of the largest U.S. operators of shopping malls into Chapter 11

Tech, Media & Telecom

Audacy Deep Dive, From Radio Pioneer to an Impaired DIP

Nov 14, 2025

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18 min read

Audacy Deep Dive, From Radio Pioneer to an Impaired DIP

A breakdown of the mechanics that turned a short-term DIP into a high-upside equity play

Tech, Media & Telecom

Silicon Carbide’s Champion Stumbles: Wolfspeed’s Path to Bankruptcy

Oct 31, 2025

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31 min read

Silicon Carbide’s Champion Stumbles: Wolfspeed’s Path to Bankruptcy

How an expected beneficiary of the semiconductor boom collapsed from its largest bet on silicon carbide

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Multi-Color: A Sticky Situation (Special 200th Edition)

Non-Pro-Rata Rewards In-Court: An Attempt to Loot Bankruptcy

Anthology: $1.6bn EdTech Roll-Up in Restructuring

ConvergeOne (C1): When Majority Control Meets Judicial Constraint

Carestream: A Negative Film

Cyxtera Technologies: A Data Center Business Built on the Wrong Real Estate

Hostess Brands: The Pension Liability That Ate Twinkies

LifeScan: Too Hard to Turn Around

United Site Services: A Royal Equity Flush

Sunnova: Too Close to the Sun

23andMe: Predisposed to Bankruptcy

Jervois Global: Anatomy of a Commodity-Driven Chapter 11

ModivCare: A Drive to Bankruptcy Court

Big Lots: Discounted Into Bankruptcy

Del Monte Foods: From LME to Section 363

Franchise Group: The Roll-Up That Collapsed in Bankruptcy and Reemerged as Fusion

Wellpath’s Chapter 11 Deep Dive

McDermott, A Cross-Border Double Restructuring

Mitel Networks Deep Dive and Uptier Analysis

YesCare (Corizon Health): Texas Two-Step Case Study

Rough Justice Resolution: Weight Watchers Prepackaged Chapter 11

Intrum, a Transatlantic Turnaround

Washington Prime Group: From Tenant Churn to Balance-Sheet Failure

Audacy Deep Dive, From Radio Pioneer to an Impaired DIP

Silicon Carbide’s Champion Stumbles: Wolfspeed’s Path to Bankruptcy

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