Weekly News – June 2

Historic US default averted!

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Another “PET” (a/k/a uptier) bites the dust!

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Find it on Reorg here

DIPs are the new exit
and why not with these fees!?!?!

Find it here

Our take:
It’s hard to be a creditor when 27% of the common is reserved for a DIP to exit facility. 

KKR-backed Genesis files for BK

Find it here

Third party releases are back!

Wachtell, Lipton, Rosen & Katz on the Purdue opinion

2nd Circuit Opinion here

Tell us what you think:

Did the Court get it right? Will the standard articulated by the 2nd Circuit prove to be more rigorous than current practice? Will this guidance now make the SDNY a more welcoming place for tort cases? How will creditors fair under this new regime?

FTX examiner decision up to 3rd Circuit

Find it on Reorg here

Double-dip financing is back!

What we’re watching

Resilient HY market?

Or, just the calm before the storm?

Read our recent coverage:
“Open Market” Purchases

Click here to tell us what you think.
Should an “open market” purchase be liberally construed to conform to sophisticated parties intentions or are there other limiting factors?
(answers remain anonymous

Read the full length feature here.

Read our recent coverage:
Where Are We In The Credit Cycle?

Read our recent coverage: 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

June 7: Navigating Uncertainty: Insights on the Global Economic Outlook

June 8: INSOL: Recent Developments in the Chinese Real Estate Market

June 8: LSTA: After the Failures–What’s Next for the Banking Sector and Venture Lending?

June 27: REGISTRATION NOW CLOSED: Creditor Rights Coalition & LSTA 2023 Restructuring Symposium

August 22: ABI/NCBJ: Tackling Emerging and Recurring Mortgage Issues in Individual Bankruptcy Cases

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