Restructuring Report

Stretto
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Stretto’s Restructuring Report is a podcast featuring notable stories curated by professionals, and powered by Stretto Intelligence. Join us each week for highlights, updates, and news impacting restructuring professionals.  Dig deeper into research and analysis online, using Research Suite by Stretto, now enhanced by AI to make it easier for professionals to find, review, and understand information that matters most.  Visit researchsuite.stretto.com to learn more.

  1. 3d ago

    November 2, 2026 - RiverStreet Communications, DISH Wireless, Trajector Holdings, Republic National Distributing Company, The Dolphin Company, The Phoenix Fund

    This episode covers key developments in asset sales and Chapter 11 plans across major restructuring cases: RiverStreet Communications, a rural broadband provider, launches a $92.5 million stalking horse sale process backed by an Oaktree Capital Management affiliate, while DISH Wireless restructures its auction procedures after terminating its agreement with EchoStar. Meanwhile, Trajector Holdings advances a sale process without an initial bidder, and disputes over previously approved transactions highlight growing challenges in closing bankruptcy asset sales. Republic National Distributing Company secures confirmation of its Chapter 11 liquidation plan despite overwhelming opposition from unsecured creditors, with approximately 96% of voting unsecured claim amounts at the lead debtor rejecting the plan. The ruling comes as several other major cases, including Stream TV Networks, Linqto, Paragon Industries, and Simply Interior Homes, reach confirmation or plan effectiveness. The Dolphin Company faces objections from its unsecured creditors' committee over a proposed liquidation plan that would provide first-lien lenders with just 0.14% recovery while leaving unsecured creditors with nothing. The committee challenges the plan's voting structure, treatment of priority claims, and significant prepetition debt roll-up. And The Phoenix Fund advances a lender-backed liquidation plan in Puerto Rico featuring a $4 million litigation trust, with unsecured creditors entitled to the first $25 million in recoveries before lenders participate. Meanwhile, Leslie's, the Archdiocese of San Francisco, and DISH Wireless face upcoming hearings and deadlines as their restructuring efforts continue. 💡 From competitive asset auctions and contested sale closings to creditor voting disputes and litigation-funded recoveries, this episode examines how sale execution, plan confirmation battles, and competing creditor interests are shaping outcomes in large Chapter 11 cases. Thank you for listening! Visit researchsuite.stretto.com for more information. Follow us on LinkedIn.

  2. Oct 26

    October 26, 2026 - Rad Power Bikes parent Summit Collective, RiverStreet Communications

    This episode covers key developments in two major restructuring and bankruptcy cases: Rad Power Bikes parent Summit Collective converts its Chapter 11 cases to Chapter 7 liquidation following the sale of its electric bike business to Life Electric Vehicles Holdings for approximately $14.9 million, including assumed liabilities. The conversion comes after pandemic-era overexpansion, declining demand, and mounting product liability concerns, with senior lender JPMorgan Chase paid in full while $26.3 million in subordinated noteholder claims remain outstanding. RiverStreet Communications, a rural broadband cooperative serving more than 31,000 subscribers across Virginia and North Carolina, files for Chapter 11 after an ambitious fiber expansion project creates a $153 million funding gap. Facing suspended government grants, rising construction costs, and mounting creditor claims, the company enters bankruptcy with a $92.5 million stalking horse sale agreement backed by Oaktree Capital Management and seeks up to $80 million in DIP financing while working to preserve essential telecommunications services in underserved communities. 💡 From electric bike industry consolidation and post-sale liquidations to rural broadband financing challenges, this episode examines how shifting market demand, government funding structures, and creditor recoveries are shaping outcomes in complex Chapter 11 cases. Thank you for listening! Visit researchsuite.stretto.com for more information. Follow us on LinkedIn.

  3. Oct 19

    October 19, 2026 - Republic National Distributing Company, Highlands Community Charter and Technical Schools

    This episode covers key developments in two major restructuring and bankruptcy cases: Republic National Distributing Company seeks court approval for its participation in joint venture asset sales in Kentucky and Michigan, expected to generate approximately $50 million in net proceeds, alongside a $9 million settlement with Tito’s Handmade Vodka maker Fifth Generation. The transactions involve non-debtor joint ventures and are tied to critical liquidity deadlines as the wine and spirits distributor approaches confirmation of its Chapter 11 plan. Highlands Community Charter and Technical Schools, a California nonprofit serving approximately 2,000 adult students, asks a bankruptcy court to halt a pending charter revocation appeal that threatens its ability to continue operating. Facing approximately $186.5 million in disputed state repayment demands, the schools argue that the automatic stay should prevent the revocation proceedings from moving forward while they pursue reorganization and seek to preserve educational services. 💡 From complex joint venture sales and supplier settlements to charter school funding disputes and the reach of the automatic stay, this episode examines how liquidity pressures, regulatory proceedings, and bankruptcy protections are shaping outcomes in Chapter 11 cases. Thank you for listening! Visit researchsuite.stretto.com for more information. Follow us on LinkedIn.

  4. Oct 14

    October 14, 2026 - Mirra-Access Holdings, Spirit Airlines

    This episode covers key developments in two major restructuring and bankruptcy cases: Mirra-Access Holdings, one of Florida’s largest outpatient healthcare providers, files for Chapter 11 with approximately $400 million in matured debt, then takes the unusual step of seeking a 45-day suspension of its own bankruptcy proceedings. The company and its senior lender are requesting time to negotiate a consensual restructuring while preserving the automatic stay, raising questions about creditor representation and patient care oversight. Spirit Airlines faces further complications in its Chapter 11 wind-down as its proposed $10 million data sale to Google is delayed until November amid continuing employee privacy objections, despite new safeguards for personal information. Meanwhile, a 20-aircraft sale unravels following alleged buyer defaults, with Spirit seeking to retain approximately $53 million in escrow deposits, while separately selecting a buyer for four flight simulators in an $8.3 million transaction. 💡 From unconventional bankruptcy pauses and healthcare debt negotiations to contested AI data sales and aircraft liquidation disputes, this episode examines how creditor negotiations, privacy concerns, and asset monetization challenges are shaping outcomes in complex Chapter 11 cases. Thank you for listening! Visit researchsuite.stretto.com for more information. Follow us on LinkedIn.

  5. Oct 5

    October 5, 2026 - Special Report: LIV Golf in Chapter 11, on the green or stuck in the rough?

    This special report takes a deep dive into LIV Golf’s Chapter 11 restructuring and the high-stakes effort to build “LIV 2.0.”  LIV Golf files for Chapter 11 in New Jersey after its Saudi-backed investor ends new equity funding, leaving the professional golf league with approximately $495 million in secured debt after roughly $5 billion in prior equity investment. The restructuring follows years of operating losses and an extensive search for new capital that ultimately produced a deal with private equity firm BC Partners.  Under the proposed restructuring, BC Partners would invest $300 million in LIV 2.0, while participating players would collectively receive 52.5% of the reorganized company’s common equity, along with signing bonuses, certain restored name and likeness rights, and ownership stakes in their teams. The Saudi fund’s existing debt and equity would be cancelled, although it is providing up to $49.6 million in DIP financing to fund the bankruptcy process.  The restructuring now hinges heavily on player support. By October 13th, players representing at least two-thirds of player claims by dollar value and half of players by number must sign on to the new structure. If the BC Partners transaction cannot close within the required timeline, the alternative is a liquidation.  🏌️ From guaranteed player contracts and sponsor-backed financing to private equity ownership and a potential liquidation, this special report examines whether Chapter 11 can give LIV Golf a viable second act—or whether the league is headed for the clubhouse.  The episode also highlights a new Research Suite Intelligence Report examining 14 previous bankruptcies involving professional sports leagues, franchises, and governing bodies—including the XFL, Arena Football League, Los Angeles Dodgers, Texas Rangers, Phoenix Coyotes, and USA Gymnastics—to identify lessons for LIV around player claims, restructuring support agreements, and creditor recoveries. Thank you for listening! Visit researchsuite.stretto.com for more information. Follow us on LinkedIn.

  6. Sep 21

    September 21, 2026 - airBaltic, Noble Supply and Logistics, CashCall

    This episode covers key developments in three major restructuring and bankruptcy cases: airBaltic, Latvia’s flag carrier, files for Chapter 11 in New York with approximately $584 million in funded debt and significant aircraft lease obligations after soaring fuel prices and limited hedging sharply strained liquidity. The airline plans to return surplus aircraft, reduce its fleet from 54 planes to 36, and cut approximately €45 million in annual costs as it restructures operations. Noble Supply and Logistics, a major supplier to the U.S. military, asks a Delaware bankruptcy court to unblock more than $3.2 million in payments from the Defense Logistics Agency, warning that withheld receipts could trigger a default and potentially force the case into Chapter 7. The government counters that it is preserving setoff rights tied to more than $10.8 million in asserted claims against the company. And a California bankruptcy court approves insider financing for CashCall while establishing a heightened framework for evaluating bankruptcy loans from related parties. Applying heightened scrutiny rather than ordinary business judgment, the court required additional protections—including removing liens on avoidance actions and restricting the lender’s enforcement rights—before approving the nearly $4 million facility. 💡 From airline restructuring and government contract disputes to heightened scrutiny of insider financing, this episode examines how liquidity pressures, creditor rights, and evolving bankruptcy standards are shaping complex Chapter 11 cases. Thank you for listening! Visit researchsuite.stretto.com for more information. Follow us on LinkedIn.

  7. Sep 14

    September 14, 2026 - Spirit Airlines, Nikola Corporation, Camp Mystic

    This episode covers key developments in three major restructuring and bankruptcy cases: Spirit Airlines’ proposed $10 million sale of corporate data to Google faces six objections and joinders over employee privacy, aviation safety records, and proprietary third-party information. The contested data set includes records tied to roughly 190 million passenger flights and hundreds of millions of corporate files and communications, while a new bidder has surfaced with a $12.5 million competing offer ahead of the September 30th sale hearing. A Delaware district court affirms Nikola Corporation’s Chapter 11 confirmation order in two separate appeals, upholding the equitable subordination of the former CEO’s approximately $69.8 million claim and rejecting a procedural challenge from securities plaintiffs holding at least $13 million in claims. The rulings clarify the treatment of civil liability following a presidential pardon and the ability to subordinate claims through a Chapter 11 plan. And the unsecured creditors’ committee in the Camp Mystic bankruptcy seeks appointment of a Chapter 11 trustee over all four debtor entities, alleging conflicts of interest, mismanagement, questionable prepetition transfers, and inadequate independent oversight following the deadly Guadalupe River flood. The debtors have proposed installing independent fiduciaries instead, setting up a significant governance dispute. 💡 From AI-driven data sales and appellate battles over claim priority to demands for independent oversight in a high-stakes bankruptcy, this episode examines how privacy, governance, and creditor protections are shaping some of the latest Chapter 11 disputes. Thank you for listening! Visit researchsuite.stretto.com for more information. Follow us on LinkedIn.

  8. Sep 8

    September 8, 2026 - Sleep Number Corporation, Republic National Distributing Company, DISH

    This episode covers key developments in three major restructuring and bankruptcy cases: Sleep Number Corporation files a Chapter 11 liquidation plan following the sale of nearly all its operating assets to an affiliate of Sleep Country Canada. The company is also seeking approval for a $153.5 million cash payment to prepetition lenders, while unsecured creditors would share remaining value through a trust and existing shareholders receive no recovery. Republic National Distributing Company, once the nation’s second-largest alcoholic beverage distributor, continues its Chapter 11 wind-down with a $250 million bankruptcy financing facility and a proposed sale of its 17-state Control States business to Martignetti Companies for $14.5 million plus inventory, as it works toward an October confirmation hearing. And DISH’s Chapter 11 restructuring splits into separate tracks for its satellite and streaming operations and its wireless business. While the satellite side moves toward confirmation of an updated plan, the wireless case faces growing uncertainty as the unsecured creditors committee seeks appointment of an independent Chapter 11 trustee or termination of the debtor’s exclusive right to propose a plan. 💡 From post-sale liquidations and piecemeal asset dispositions to diverging restructuring paths within a single bankruptcy, this episode examines how creditor recoveries, liquidity constraints, and demands for independent oversight are shaping complex Chapter 11 cases. Thank you for listening! Visit researchsuite.stretto.com for more information. Follow us on LinkedIn.

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About

Stretto’s Restructuring Report is a podcast featuring notable stories curated by professionals, and powered by Stretto Intelligence. Join us each week for highlights, updates, and news impacting restructuring professionals.  Dig deeper into research and analysis online, using Research Suite by Stretto, now enhanced by AI to make it easier for professionals to find, review, and understand information that matters most.  Visit researchsuite.stretto.com to learn more.

Information

  • Creator
    Stretto
  • Years Active
    2025 - 2026
  • Episodes
    53
  • Rating
    Explicit
  • Copyright
    © 2026 Stretto
  • Show Website
    Restructuring Report

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