Restructuring Report

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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. 1d ago

    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.

  2. 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.

  3. 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.

  4. Aug 31

    August 31, 2026 - Grupo HIMA San Pablo, And Go Concepts, Hughes Satellite Systems

    This episode covers key developments in three major restructuring and bankruptcy cases: A Puerto Rico bankruptcy court confirms the Grupo HIMA San Pablo liquidation plan and upholds its opt-out third-party releases, finding that creditors who received clear disclosure and failed to opt out could be deemed to have consented. The decision addresses an issue left open by the Supreme Court’s Purdue Pharma ruling, although the court emphasized that its holding is limited to the specific facts of the case. Salad and Go parent And Go Concepts wins approval for a two-bidder auction between Dutch Bros and 7 Brew involving roughly 130 leases. Dutch Bros entered with a $105 million prepetition agreement, while the competing bid must remain above a contractual threshold of approximately $118.8 million, setting up a closely watched auction as landlords raise objections to proposed lease assignments. And a Texas bankruptcy court orders the appointment of an examiner in the Hughes Satellite Systems Chapter 11 case amid allegations involving more than $1.5 billion in related-party transfers. The court leaves the investigation’s scope, budget, timing, and other key questions unresolved for a later hearing as competing investigations and discovery disputes continue. 💡 From post-Purdue third-party releases and competitive bankruptcy auctions to examiner investigations of major related-party transactions, this episode explores how consent, asset-sale strategy, and independent oversight are shaping outcomes in complex Chapter 11 cases. Thank you for listening! Visit researchsuite.stretto.com for more information. Follow us on LinkedIn.

  5. Aug 24

    August 24, 2026 - Braskem Idesa, BFG Supply, TelePacific

    This episode covers key developments in three major restructuring and bankruptcy cases: Braskem Idesa, Mexico’s primary polyethylene supplier, files a prepackaged Chapter 11 in Houston with approximately $3.6 billion in debt, after years of declining ethane deliveries from Pemex dramatically increased production costs. Backed by approximately $409 million in DIP financing, the plan would eliminate more than $920 million in funded debt while leaving trade creditors unimpaired. BFG Supply, a national horticulture and garden products distributor, enters Chapter 11 after beginning an inventory liquidation 15 days before filing. With more than $340 million in funded debt, the company is pursuing three paths simultaneously—a going-concern sale, inventory liquidation, and real estate dispositions—supported by a proposed $55 million DIP revolver. And TelePacific pivots from a sale process to a Chapter 11 reorganization after an extensive marketing effort fails to produce a single qualified bid. The amended plan would reduce approximately $1.1 billion in funded debt to a $129 million reorganized capital structure, while first-lien lenders face recoveries of just 2% to 7% and general unsecured creditors are projected to recover between 3% and 11%. 💡 From petrochemical supply disruptions and prepetition liquidations to failed bankruptcy auctions, this episode explores how operational pressures, constrained sale markets, and aggressive balance-sheet restructurings are shaping the latest Chapter 11 cases. Thank you for listening! Visit researchsuite.stretto.com for more information. Follow us on LinkedIn.

  6. Aug 17

    August 17, 2026 - American Efficient, Genesis Healthcare

    This episode covers key developments in two major restructuring and bankruptcy cases: A creditor in the American Efficient bankruptcy seeks appointment of a Chapter 11 trustee or independent examiner, citing federal regulatory findings that an affiliate allegedly sold nearly two gigawatts of “fake capacity” and received roughly $500 million in capacity payments. The motion also raises concerns over insider transactions, affiliate-provided DIP financing, and the absence of a creditors’ committee. A Texas district court dismisses an appeal challenging Genesis Healthcare’s postpetition financing releases, holding that Section 364(e) prevents the court from disturbing provisions that were part of the lenders’ financing bargain when the underlying order was never stayed. The decision leaves the releases intact without deciding whether they were proper and weighs in on an unsettled question over the scope of appellate protections for bankruptcy financing orders. 💡 From allegations of energy-market misconduct and demands for independent oversight to appellate protections for DIP lenders, this episode examines how regulatory findings, insider relationships, and bankruptcy financing rules are shaping creditor rights in complex Chapter 11 cases. Thank you for listening! Visit researchsuite.stretto.com for more information. Follow us on LinkedIn.

  7. Aug 10

    August 10, 2026 - Archdiocese of Baltimore, Vi-Jon, Sleep Number

    This episode covers key developments in three major restructuring and bankruptcy cases: The Archdiocese of Baltimore sees both competing disclosure statements rejected, with the bankruptcy court finding that neither provides adequate information and that each describes a patently unconfirmable plan. The ruling highlights disputes over insurance trust assets, classification of unsecured claims, and the attempted treatment of non-debtor parishes and affiliates. Vi-Jon files a prenegotiated Chapter 11 aimed at channeling hundreds of talc personal injury claims into a Section 524(g) trust. The proposed structure relies on a $25 million affiliate contribution, insurance rights with more than $900 million in stated limits, and other contingent assets as the company confronts a sharp increase in projected talc liabilities. And a New York bankruptcy court rules that approximately $17.6 million in Sleep Number deferred compensation funds held in a rabbi trust are property of the estate, meaning the money will be available for general unsecured creditors rather than reserved for participating executives and employees. 💡 From mass-tort plan disputes and talc trust structures to executive compensation and estate property, this episode explores how courts are defining creditor rights, plan feasibility, and the boundaries of bankruptcy protection in complex Chapter 11 cases. Thank you for listening! Visit researchsuite.stretto.com for more information. Follow us on LinkedIn.

  8. Aug 3

    August 3, 2026 - Alkegen, FreshRealm, Sleep Number

    This episode covers key developments in three major restructuring and bankruptcy cases: Alkegen, a global manufacturer of high-performance industrial fibers, files a prepackaged Chapter 11 designed to eliminate approximately $3.1 billion in funded debt. Backed by overwhelming lender support and a $630 million DIP facility, the plan would reduce term debt to roughly $400 million, preserve trade creditor recoveries, and transfer substantially all reorganized equity to first-lien lenders. FreshRealm seeks approval to solicit votes on a Chapter 11 liquidation plan funded largely by a settlement with former customer Blue Apron, whose departure—along with Walmart’s—eliminated approximately 90% of the company’s revenue. The proposed plan remains under negotiation, with no disclosed recovery estimates and no qualifying bids received for the company’s assets. And a New York bankruptcy court approves $1.825 million in retention awards for 38 Sleep Number employees over the U.S. Trustee’s objection, finding that the participants were not statutory insiders and that the payments represented a reasonable exercise of business judgment following a $701.8 million winning auction bid. 💡 From multibillion-dollar balance sheet restructurings and customer-driven liquidations to contested employee retention programs, this episode explores how creditor support, settlement proceeds, and workforce stability are shaping outcomes across today’s Chapter 11 landscape. 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
    48
  • Rating
    Clean
  • Copyright
    © 2026 Stretto
  • Show Website
    Restructuring Report

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