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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LMEs Reshape Chapter 11 Dynamics
- LMEs have become the default liability-management approach, reshaping how Chapter 11s look when they occur post-LME.
- Post-LME bankruptcies often mirror traditional restructurings but with different capital-structure cadences and court roles.
Purdue's Ripple Effects Persist
- Purdue and its aftermath continue to influence in-court releases and third-party release doctrine across jurisdictions.
- Ongoing district and appellate opinions mean third-party release law remains unsettled going into 2026.
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.