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1 month ago | 
ionanalytics.com | Sara M. Tapinekis |Kennedy Rose |Ben Miller
To mark International Women’s Day, the women of ION Analytics, including reporters and analysts at Debtwire, MergerMarket, Dealreporter, Cybersecurity Law Report, Hedge Fund Law Report, and Anti-Corruption Report have interviewed outstanding women in their respective jurisdictions and fields. It is our honor to highlight these women and their accomplishments and contributions to their industries and share some of their insights and perspectives.
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Dec 2, 2024 | 
ionanalytics.com | Kennedy Rose |Sara M. Tapinekis |Roshan Mehta |Seth Crystall
News (Intelligence) Beverage company Stoli Group (USA) LLC (Stoli USA) filed for Chapter 11 in freefall last week as the debtors faced declining demand for spirits, inflationary pressures, a data breach and a ransomware attack, as well as a dispute with lender Fifth Third Bank, National Association.
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Nov 18, 2024 | 
ionanalytics.com | Taylor Harrison |Sara M. Tapinekis |Seth Crystall |Roshan Mehta
News (Intelligence) In addition to the RSA that outlines treatment for a reorganization plan, the bondholders are providing USD 300m in debtor-in-possession (DIP) financing to fund the Chapter 11 case. Judge Sean Lane of the US Bankruptcy Court for the Southern District of New York is overseeing the case and has scheduled a first day hearing for today at 4pm ET.
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Nov 12, 2024 | 
ionanalytics.com | Scott Flaherty |Sara M. Tapinekis |Seth Crystall |Ben Miller
News (Intelligence) Wellpath filed its Chapter 11 petition on Monday (11 November) in the US Bankruptcy Court for the Southern District of Texas, reporting USD 644.1m in prepetition funded secured debt. The company comes into the process with a restructuring support agreement (RSA) signed by 85% of Wellpath’s first lien lenders and at least 80% of the company’s second lien lenders.
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Oct 10, 2024 | 
ionanalytics.com | Kennedy Rose |Sara M. Tapinekis |Rahul Dhapare |Seth Crystall
Wheel manufacturer Accuride Corporation filed for Chapter 11 bankruptcy protection yesterday (9 October) backed by USD 103m in debtor-in-possession (DIP) financing. The DIP financing comes from an ad hoc group of the debtors’ first lien term loan lenders, and the ad hoc group and prepetition ABL lenders provided access to cash collateral, according to a declaration of Charles Moore, the debtors’ chief restructuring officer. Accuride has not yet filed a DIP motion or scheduled a first day hearing.
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Aug 13, 2024 | 
ionanalytics.com | Kennedy Rose |Sara M. Tapinekis |Rahul Dhapare |Seth Crystall
News (Intelligence) AIO US Inc, a holding company for Avon’s international operations, filed for Chapter 11 bankruptcy protection yesterday (12 August) backed by a USD 43m debtor-in-possession (DIP) financing facility and a stalking horse bid from prepetition lender Natura &Co Holding SA, as well as a proposed settlement agreement with Natura.
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Jul 16, 2024 | 
ionanalytics.com | Taylor Harrison |Aline Lima |Sara M. Tapinekis |Seth Crystall
News (Intelligence) Brazilian cement maker InterCement Brasil SA has filed for Chapter 15 relief in the US seeking recognition of insolvency proceedings in Brazil. InterCement requested a precautionary measure on Monday (15 July) from the First Bankruptcy Court of São Paulo ahead of the impending maturity of its 2024 bonds and also filed a Chapter 15 petition in the US.
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Jun 27, 2024 | 
ionanalytics.com | Sara M. Tapinekis |Ben Miller
Report Purdue Pharma appeared before the US Supreme Court on 4 December to battle with the US Trustee over[1] what the District Court for the Southern District of New York dubbed “the great unsettled question” – whether bankruptcy courts are authorized to approve non-consensual releases of claims held by non-debtors against other non-debtors.
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May 2, 2024 | 
ionanalytics.com | Kennedy Rose |Sara M. Tapinekis |Jayjeet Sharma |Shirley Williams
Fashion retailer rue21 found itself in Chapter 11 once again, this time seeking to conduct store closing sales and wind down its operations. The company comes to Chapter 11 backed by a cash collateral deal with prepetition ABL agent Bank of America. rue21 previously filed for bankruptcy in 2017, and the company reduced its debt load by about USD 700m and closed hundreds of stores.
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Apr 19, 2024 | 
ionanalytics.com | Sara M. Tapinekis |Dawn Grocock |Jayjeet Sharma |Ben Miller
Report Altice France’s strategy for deleveraging its balance sheet by designating Altice Media as an unrestricted subsidiary, and thereby keeping €1.55bn in expected sale proceeds out of the restricted assets bucket, triggered a swift market reaction. As creditor groups have reportedly formed and brought on restructuring professionals, the Debtwire legal analyst team explores the company’s in-court restructuring options in both France and the US.
