In Chapter 11 cases, one of a vendor’s best shots at getting paid its pre-petition debt is being designated as a “critical vendor”....more
Material Chapter 11 cases have morphed to the point that the outcome is often predetermined at the “first day” hearing. Unsecured creditors with material credit exposure should engage early to protect their interests and...more
On 5 July 2022, SAS AB and 13 affiliates filed for Chapter 11 protection in the Southern District of New York. Owned 44% by the Kingdoms of Denmark and Sweden, SAS encountered financial turbulence resulting from increased...more
10/14/2022
/ Airlines ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debt Restructuring ,
Debtors ,
Insolvency ,
Lenders ,
Reorganizations
Since its beginning in 1978, Chapter 11 has been the primary tool for financially distressed U.S. and foreign companies to efficiently restructure their balance sheets and business operations.
Successful Chapter 11 cases...more
According to the American Bankruptcy Institute, total commercial Chapter 11 filings in July 2021 decreased 62 percent from the previous year. Commercial Chapter 11 filings totaled 244 in July 2021, down from the July 2020...more
In the context of a series of complex re-financings and roll-up transactions by Revlon in May and June, 2020, human error caused a $500 million loss for Citibank.
On 16 February 2021, in the case of In re Citibank August...more
We are closely following Revlon on behalf of several creditor interests.
In the context of a series of complex re-financings and roll-up transactions by Revlon in May, 2020, human error caused a $500 million loss for...more
Reuters, Bloomberg and Debtwire are all reporting negative financial information about your customer:
"Bond ratings are down-graded, bond prices are falling, a likely “restructuring” to address the bond debt,...more
Introduction -
Adjusting to the “new reality”, many companies have focused on all aspects of their balance sheets to improve performance for stakeholders. Companies have realized that material extensions of credit...more