Rounding up and focusing our deep dive on the most prominent high yield and distressed litigation situations from the week of April 5, 2021, the Americas Core Credit team’s weekly podcast also takes a look at Hertz’s second amended plan of reorganization, Ferellgas’s lawsuit for their unpaid fees, and Intelsat’s Jackson crossover group and their debtors plans. The Hertz debtors, on April 3rd, filed a second amended plan of reorganization in a company disclosure statement reflecting an “enhanced proposal from Centerbridge Partners, Warburg Pincus, and Dundet Capital Partners” to fund the company’s chapter 11 cases with their $1.6B rates offering, a $565M direct purchase of Hertz reorganized equity by Dundet, Centerbridge and Warburg, and a $385M preferred stock issuance to Centerbridge and Warburg. In a development of the Ferrellgas bankruptcy cases after the company emerged, Moelis Company, which serves as financial advisor, capital markets advisor and investment bankers to Ferrellgas LP and parent Ferrellgas Partners LP, sued the company for more than $20M in unpaid fees in connection with the parent company’s recent chapter 11 filing and Ferrellgas LP’s out of court restructuring. On Intelsat, their ad hoc parent entity convertible noteholder group and the Jackson crossover group objected to the debtor’s proposed 9 month extension of their exclusive periods to file and solicit votes on a chapter 11 plan. Click through to listen to the full podcast on Spotify, iTunes or SoundCloud for our discussion on Hertz, Ferrellgas, Intelsat as well as our deep dive on the prominent high yield and distressed litigation situations from the week of April 5, 2021. If you are not a Reorg subscriber, request access here.