Weekly News – April 28
First Republic teeters
Binance deal collapses…
Will crypto bankruptcies become forced cash
liquidations over regulatory concerns?
As noted by our friends @Cherokee Acquisition
Federal Reserve criticizes itself on bank failures
5th Circuit takes on ‘Open Market Purchase’ decision
Will Serta ruling create more chaos in the credit markets?
Creditors fight back!
Uptiers opening up?
Our take:
Will markets choose order over chaos?
Deathtrap triggered and one to watch…
As noted by our friends @Petition
Our take:
With the UCC appointment the deathtrap has been triggered, and, oh, by the way, the secured creditors are gifting 14% of the equity to the parent company!
Unsecureds get a donut while equity gets $$$$.
What we’re reading
MNK make-whole analyzed
Do you think a make-whole should be paid if debt is reinstated?
SVB & FDIC slugfest coming up
FTX creditors on losing end…
Creditor recoveries in the spotlight
Don’t want to miss
livestreamed event
GS on S&P and earnings
Save the Date
Read our recent coverage:
Where Are We In The Credit Cycle?
Read our recent coverage from Contributor Cliff White on Examiners
Look out for more great features from our Contributors
Have something interesting to share?
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Upcoming Events
May 1: **NEW EVENT** Milken Institute: Evaluating Credit Market Dislocations
May 4: Selendy Gay Elsberg/J.F. Lehman: Seminar on Liability Management Transactions
May 4: EMTA: Emerging Markets Forum on Distressed Debt
May 16: LSTA & Deal Catalyst: Annual CLO Conference
May 18: LSTA/LMA: Joint NY Conference
May 24: ABI: New York City Bankruptcy Conference
May 27: SAVE THE DATE: Creditor Rights Coalition & LSTA 2023 Restructuring Symposium