EMEA Podcast: Greensill Administration, Takko Financing Issues

Released on a bi-weekly basis, the EMEA Core Credit Podcast by Reorg discusses the most prominent issues, situations and companies in the high-yield and distressed debt space. Our team of reporters, financial analysts and legal analysts provide comprehensive, real-time and up-to-date news, commentary and analysis on each issue discussing how these situations may impact their surrounding markets. Each episode of the podcast also features a deep-dive into a particularly interesting situation from the previous week. This week’s deep dive discusses U.K. working capital finance provider Greensill and German value fashion retailer Takko. Greensill Capital made headlines earlier in the month...

Read More
Reorg Webinar Series: Deep Dive Into Seadrill Chapter 11 Cases

Reorg Webinar Series: Deep Dive Into Seadrill Chapter 11 Cases

Next Tuesday, March 16, 2021 at 12:00pm, our Americas Core Credit experts including senior legal analysts Ana Lucia Hurtado and Karen Leung, distressed debt legal analyst Cathy Ta, and director of emerging markets credit research Kyle Owusu will be conducting a webinar to delve into deepwater drilling contractor, Seadrill Partners and Seadrill Limited. The webinar will break down the Seadrill chapter 11 cases initiated by both subsidiaries discussing how these filings may impact the company moving forward as a whole. Our coverage team will also provide an overview of the debtors’ respective chapter 11 cases.  Watch the replay here: https://reorg.com/resources/events/seadrill-webinar/...

Read More
Texas Winter Storm Chapter 11 Filings and Other Restructurings – Week of March 8, 2021

Texas Winter Storm Chapter 11 Filings and Other Restructurings – Week of March 8, 2021

Just as a number of large chapter 11 cases that Reorg has been following moved closer to wrapping up, fallout from Winter Storm Uri in Texas, for which the Electric Reliability Council of Texas, or ERCOT, estimates will return in losses of $55 billion, has led to at least two large in court restructurings, including Brazos Electric Power Cooperative, which sought chapter 11 protection in the Southern District of Texas on March 1, and Just Energy, which filed restructuring proceedings in Canada on March 9. The storm led to power generation facilities being knocked off line, lack of natural gas availability, and numerous other...

Read More
Sichuan Languang Development Says Sale of Chengdu Dikang Pharmaceutical Is Strategic Decision

Sichuan Languang Development Says Sale of Chengdu Dikang Pharmaceutical Is Strategic Decision

With the Asia Core Credit team publishing more than 20 updates on Sichuan Languang so far this year, it has certainly been "one to watch." In response to the disposal of drug maker Chengdu Dikang Pharmaceutical in July 2020, Languang denied that the sale was due to its liquidity needs. Languang has been trying to introduce shareholders and sell Dikang when appropriate since 2019. It pointed out that the timing of the announcement of the sale was a function of the natural progression of the negotiations. Please click through to read an update from Thu 03/04/2021, and request a trial to...

Read More

Americas Podcast: Brazos Chapter 11 Filing and Hertz Chapter 11 Plan

Each Friday, the Americas Core Credit by Reorg team releases a podcast discussing high-yield, stressed and distressed markets as well as performing credits in North and South America, including Puerto Rico and Argentina. Each episode features highlights from the previous week and the week ahead as well as a deep dive into a particular company, credit or situation. This week Conor Skelding and Sean Daly discuss Brazos and Hertz in relation to their chapter 11 protections. The after effects of mid-February's extreme cold temperatures in Texas have, so-far, created lawsuits, historically high collateral posting requirements and caused have Brazos to...

Read More
All Year Management Chapter 11 Bankruptcy Case Summary

All Year Management Chapter 11 Bankruptcy Case Summary

All Year Management affiliate Evergreen Gardens Mezz, owner of the Denizen, a luxury apartment complex in Bushwick, NY, filed for chapter 11 on Feb. 22 initiating a public sale as well as a foreclosure of the Denizen. Unfortunately for All Year, the Denizen is one of their most valuable assets and it’s financial health played a primary role in the company’s ongoing restructuring plans. These continued discussions will be focused on paving a path forward to create a plan that maximizes the value for All Year’s bondholders and stakeholders.   The Covid-19 pandemic played a major role in the Evergreen Gardens...

Read More
Thank you for signing up
for Reorg on the Record!