Introduction

In this month’s State of Distressed Debt edition of the FICC Focus podcast, Bloomberg Intelligence global credit strategy head Noel Hebert and distressed credit analyst Philip Brendel discuss high yield’s and distressed’s uncanny strength through the summer amid higher rates. Then, bankruptcy litigation analyst Negisa Balluku and Brendel have an in-depth interview with Kris Hansen, co-chair of the financial restructuring group at Paul Hastings, on how “creditor-on-creditor violence” is a misnomer, the intersection of crypto and bankruptcy, Chapter 11 as a forum for resolving mass tort and his outlook for restructurings (6:10). Balluku, Brendel and Hebert wrap up with the latest developments for Johnson & Johnson, 3M, Alameda, Grayscale, Yellow Corp., Diamond Sports and National Cinemedia (1:22:09).