Bankruptcy & Restructuring News & Analysis — Conductor

A carve-out that opened with no cash and largely unsalable inventory entered a lender-controlled liquidation sixteen months later. This report traces how the structure of the transaction relates to the bankruptcy, and where the filings indicate recoveries are most likely to come from

A lender-led change of control converts the funded debt of a former $6.6 billion public company into takeback paper and equity, winding the business down to collect a long-tail commission book on a timeline measured against the Medicare enrollment calendar

A 664 MWp Polish solar enterprise with roughly $952 million of funded debt enters Chapter 11 in Texas with less than €1.1 million of unencumbered cash

A consensual, supermajority-supported balance-sheet restructuring proposes to eliminate roughly $325 million of funded debt, convert debtor-in-possession loans straight into exit financing, and hand most of the reorganized equity to first-lien lenders while leaving trade creditors whole

Miyoshi America advances what it describes as a first-of-its-kind prepackaged talc bankruptcy plan, using Section 524(g) to channel present and future talc claims into a trust funded primarily by its Japanese parent, with more than 99% support from voting talc claimants