Debtwired! Debtwired Miami 2025: Takeaways and predictions for year's end
Dec 23, 2025
In this insightful discussion, restructuring experts Seth Lieberman, Craig Rassil, John Thompson, and Maria Pekar share their predictions and takeaways for the year. Seth explains the evolution of liability management exercises, while Craig highlights challenges in hospitality and healthcare. John sheds light on opportunities for buyers amid middle-market stress. Maria analyzes the implications of Altice's antitrust lawsuit, cautioning about its effects on credit markets. Their analyses point to a complex financial landscape shaping 2026.
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Treat New Rulings As Guidance Not Gospel
- Expect opinions like Gull-Win to provoke more legal questions even if they offer wins for certain parties.
- Monitor jurisdictional differences closely before relying on any single district ruling.
CRE Pain Promotes Out‑Of‑Court Workouts
- Hospitality and office CRE faced combined pressure from high rates, labor and insurance costs that depressed values and triggered non-monetary defaults.
- Out-of-court workouts and asset sales proved preferable to bankruptcy when possible, especially without ready DIP financing.
Plan Financing Before Filing
- Prepare thoroughly before filing Chapter 11 by securing DIP financing and planning cash collateral use.
- Where possible, pursue out‑of‑court workouts to avoid expensive bankruptcy processes.