Restructuring Report
This episode covers key developments in four major restructuring and bankruptcy cases: Office Properties Income Trust heads toward confirmation of its $2.4 billion restructuring, following extensive intercreditor disputes and a series of settlements that stabilized enterprise value and reduced leverage through conversion of its DIP facility into equity, leaving unsecured noteholders with modest recoveries and wiping out existing equity. FAT Brands enters the final phase of its Chapter 11 sale process after resolving a high-profile governance battle, with bids due April 24th and lenders positioned to credit bid nearly $1 billion in debt if no third-party offers emerge. Axip Energy Services completes a $161 million Section 363 sale in just 43 days, one of the fastest recent processes in the Southern District of Texas, though the outcome leaves unsecured creditors and junior stakeholders facing little to no recovery. And BlockFills, a digital asset brokerage, advances a dual-track restructuring strategy combining a potential customer-led NewCo transaction with a court-supervised sale, as the case centers on whether customer crypto assets constitute property of the estate. 💡 From distressed office real estate and franchise governance battles to rapid asset sales and crypto restructuring frameworks, this episode explores how speed, stakeholder negotiations, and emerging legal questions are shaping outcomes across today’s Chapter 11 landscape. Thank you for listening! Visit researchsuite.stretto.com for more information. Follow us on LinkedIn [https://www.linkedin.com/company/stretto-com/].
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