This podcast recaps on Hawaiian Electric and Spirit AeroSystems, Yellow Corp's in-court action, potential restructurings for Mallinckrodt, Pure Fishing, Cano Health, and Tenneco. Kate Thomas provides a preview of future coverage. The episode delves into bankruptcy developments, financial proceedings, mediation requests, market challenges, legal updates, and upcoming events in bankruptcy cases.
Hawaiian Electric Industries may face liability for damages, while Spirit AeroSystems experiences declining deliveries and negative cash flow.
Yellow Corp secures a new money DIP facility, while FTX and Genesis propose a global settlement for due link claims.
Deep dives
Restructuring Developments in the Corporate World
This week's segment delves into the restructuring scenarios of Hawaiian Electric Industries, Spirit Arrow Systems, and Radiate Holdco. Hawaiian Electric Industries, under HEI, faces potential liability for damages from the Lihanu-Mawi fire. Spirit Arrow Systems experience a drop in deliveries, resulting in negative free cash flow. Radiate Holdco observes customer loss and decreased revenue, prompting the need for interest expenses.
Recent Debt Restructuring Strategies
Yellow Corp selects a new money dip facility from Citadel Credit Master Fund. FTX and Genesis propose a global settlement to resolve due link claims. SBB Financial Group engages in a legal battle with the FDIC over withheld funds. Diamond Sports Group seeks mediation with key stakeholders for plan issues.
Financial Challenges and Market Responses
Pure Fishing extends forbearance agreements amid financial challenges. Kano Health navigates potential debt restructuring after breaching leverage covenants. A $1.9 billion secured bond for Tenico faces market uncertainties. Notable legal developments include dismissals of certain cases and global settlements in litigation proceedings.
This week’s episode includes recaps of new coverage names Hawaiian Electric and Spirit AeroSystems, In-Court Action in Yellow Corp, FTX and Diamond Sports and potential restructurings from Mallinckrodt, Pure Fishing, Cano Health and Tenneco.
And, as always, Reorg’s Kate Thomas presents a preview of what’s to come.
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