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

Find it on Reorg here

Will Serta ruling create more chaos in the credit markets?

Creditors fight back!

Uptiers opening up?

Find it on Reorg here

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?

email us at [email protected]

Upcoming Events

May 1: ABI: VALCON 2023

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 9: LSTA: Liability management transactions and the Serta Case: What is an open-market purchase anyway?

May 16: LSTA & Deal Catalyst: Annual CLO Conference

May 18: LSTA/LMA: Joint NY Conference

May 23: NCBJ/ABI: Behind the Bench: Crypto Bankruptcies: Thinking Through Emerging Issues and Cross-Border Cases

May 24: ABI: New York City Bankruptcy Conference

May 27: SAVE THE DATE: Creditor Rights Coalition & LSTA 2023 Restructuring Symposium

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