This week's episode includes recaps of Serta's chapter 11 plan confirmation, settlement between Cineworld and National CineMedia, and chapter 11 filings from Cyxtera Technologies and Lucky Bucks. The podcast also previews upcoming content and covers various legal proceedings, enforcement actions, potential restructuring, transaction refinancing, and Chapter 11 cases.
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Quick takeaways
Judge David R. Jones confirmed SIRDA's Chapter 11 plan and ruled that the 2020 exchange transaction was binding and enforceable.
Sinnerworld and National Cinemedia settled their dispute with a new network affiliate transaction agreement.
Deep dives
Confirmation of SIRDA's Chapter 11 Plan and 2020 Exchange Transaction
Judge David R. Jones confirmed SIRDA's Chapter 11 plan and ruled that the 2020 exchange transaction was binding and enforceable. FLSO and non-parity term loan creditor Citadel Equity Fund appealed the decision.
Settlement of Sinnerworld and National Cinemedia Exhibitor Service Agreement
Sinnerworld and National Cinemedia settled their dispute with a new network affiliate transaction agreement. NCM will have exclusive rights to provide on-screen advertisements to Sinnerworld's US cinemas for 10 years in exchange for guaranteed payments based on attendance and advertising revenue.
SEC Lawsuits Against Binance US and Coinbase
The SEC filed suit against Binance US and Coinbase alleging that they violated US securities law. Binance systematically attempted to evade the law since 2018, while Coinbase acted as an unregistered exchange and sold unregistered securities. Both cases have upcoming hearings for temporary restraining orders against freezing assets.
We’re taking a brief recess from our weekly interview segment this week but will be back next week with more premium content.
This week’s episode includes recaps of Judge David R. Jones’ hotly anticipated opinion confirming Serta’s chapter 11 plan and ruling that the debtors’ 2020 uptier exchange transaction was permitted under the company’s credit agreement, Cineworld and National CineMedia’s settlement of their longstanding fight over their exhibitor services agreement and chapter 11 filings from Cyxtera Technologies and Lucky Bucks. We also preview what is coming next week.
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