Litigation, Regulatory and Chapter 11 Restructuring Trends
The ever-growing subscriber base for Reorg in the Americas has long enjoyed premium content, including our coverage of legal and financial analysis as well as reporting of performing, stressed and distressed credits. Part of our “secret sauce” is Reorg’s trifecta approach, which combines experienced reporting with the expertise of seasoned financial analysts and lawyers. This results in more than the sum of its parts, as it provides customers with an unmatched holistic perspective.
In recent months, the Americas team has been busy covering the litigation, regulatory and chapter 11 restructuring spaces. Chapter 11 filing frequency in the beginning of the second half of the year is off to a similar start as the first half but with a more balanced distribution across sectors and with less of an emphasis on consumer discretionary and real estate filings. Recent chapter 11 filings that have garnered substantial interest include the freefall bankruptcy of oil refinery Limetree Bay Refining and the chapter 11 filings of two Latin American companies: Colombian consumer financial services business Alpha Latam Management and Chile-based Corp Group subsidiary holding company Corp Group Banking, which also filed with its subsidiary Inversiones CG Financial Chile Dos SpA.
In-court action has also been hot, including the recent disclosure statement approval in the Puerto Rico Title III cases and the decision in Mallinckrodt disallowing approximately $203 billion of the $213 billion in private Acthar antitrust claims filed against the debtors. Our litigation and regulatory coverage has also been active, with highlights including coverage of the ongoing drama between the state of Florida and the U.S. Centers for Disease Control relating to the CDC’s cruising regulations and of the recent House Judiciary Committee hearing on “Confronting Abuses of the Chapter 11 System.”
Additionally, Reorg’s reporter team broke the news on July 28 that Berkeley Research Group has been appointed as Novalpina’s third party manager as NSO continues its attempt to raise up to $400 million, which it could use to buy out Novalpina, the holder of a controlling stake in the Israeli spyware company. As always, Reorg looks forward to continuing to deliver leading, timely coverage of market-moving situations. We’ll be taking a break next week, back Wednesday, August 18.
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