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Nov 9, 2023 | 
info.debtwire.com | Pat Holohan |Sara M. Tapinekis |Seth Crystall |Arora Vishal
Legal Analysis By Pat Holohan, Sara Tapinekis and Seth Crystall Office space provider WeWork Inc and certain debtor affiliates filed their long-awaited Chapter 11 cases last night (6 November) with a restructuring support agreement (RSA) setting up the equitization of its debtor-in-possession (DIP) financing, prepetition letter of credit (LC) facility claims, and first and second lien notes. The company’s first day declaration from Chief Executive Officer David Tolley hit the docket early...
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Nov 9, 2023 | 
info.debtwire.com | Arthur Almeida |Arora Vishal
Legal Analysis By Arthur Almeida During a conference held by the Brazilian Chapter of the Turnaround Management Association (TMA Brasil), restructuring experts weighed in on controversial legal issues regarding distressed concessionaires of public services, guarantee-related claims and Brazilian companies filing for bankruptcy abroad. The case law that was discussed came from high-profile in-court restructurings, including Light SA,Oi SA,Abengoa Construcao,Viracopos Airport,Rodovias do...
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Nov 7, 2023 | 
info.debtwire.com | Álvaro Ledgard |Arora Vishal
News Analysis By Alvaro Ledgard Three issuers raised just over USD 2bn in the Latin American primary market this week as they tried to squeeze in deals on the back of the US Federal Reserve’s announcement on 1 November that it would hold rates.
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Nov 7, 2023 | 
info.debtwire.com | Nidhi Negandhi |Arora Vishal
Report By Nidhi Negandhi TalkTalk Telecom Group (TalkTalk), a UK-based telecommunications enterprise, on 29 September 2023, announced the sale of its B2B Business arm for GBP 95m to its shareholders. Although this has aided its cash position, the agreed sale price is lower than previous expectations.
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Nov 7, 2023 | 
info.debtwire.com | Madalina Iacob |Arora Vishal
Breaking News By Madalina Iacob Lumen Technologies’ recently announced agreement with a group of creditors to address near-term maturities has emboldened a group of creditors left out of the deal to craft a competing proposal, said two sources familiar with the matter.
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Nov 2, 2023 | 
info.debtwire.com | Sara M. Tapinekis |Catherine G. Corey |Ryan Patwell |Arora Vishal
Legal Analysis By Sara Tapinekis, Catherine Corey and Ryan Patwell Allegations that Judge David R Jones of the US Bankruptcy Court for the Southern District of Texas had an undisclosed romantic relationship with Elizabeth Freeman while she was an attorney at Jackson Walker, where she frequently appeared before Jones as counsel to debtors and other parties, is beginning to have consequences beyond Judge Jones’ resignation from the bench. For one, as the Debtwire legal analyst team discussed...
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Nov 1, 2023 | 
info.debtwire.com | Dan Anghelache |Arora Vishal
Legal Analysis By Dan Anghelache Although Turkey’s Framework Agreement (FA) — an inter-creditor agreement through which debtors and their creditors can negotiate an agreement to restructure debt — lapsed in July 2023 after having been extended for two years in 2021, there is an expectation that a new restructuring law will replace it soon, according to two restructuring advisors and a lawyer. “I expect a new restructuring framework to be drafted soon, hopefully one that is influenced by the...
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Oct 31, 2023 | 
info.debtwire.com | Arora Vishal |Pat Holohan |Sara M. Tapinekis |Seth Crystall
Legal Analysis By Pat Holohan, Sara Tapinekis, Seth Crystall, Jayjeet Sharma and Catherine Corey Air Methods Corp, an emergency medical transportation company, filed for Chapter 11 early this morning (24 October) with a plan of reorganization backed by a majority of its secured lenders and unsecured noteholders.
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Oct 31, 2023 | 
info.debtwire.com | Mariana Santibanez |Arora Vishal
News Analysis By Mariana Santibanez PetroPeru is expected to continue to receive support from Peru’s government, despite comments that there is no budgetary space for new financial support to the state-owned oil company this year, according to a corporate and sovereign analyst.
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Oct 26, 2023 | 
info.debtwire.com | Sara M. Tapinekis |Jayjeet Sharma |Arora Vishal
Legal Analysis By Sara M. Tapinekis and Jayjeet Sharma Diamond Sports Group LLC‘s (DSG) action against Sinclair Broadcast Group, Inc (SBG) and Bally’s Corporation has the potential to yield a substantial recovery for Diamond that could materially enhance distributions to its creditors.
