Bankruptcy & Restructuring News & Analysis — Conductor
North Star Health Alliance Seeks $60 Million in State-Backed DIP Financing
A rural northern New York not-for-profit health system asks the bankruptcy court to approve below-market priming financing from the State Dormitory Authority, repaying a state bridge loan and funding operations while it negotiates a restructuring partner
Nied Ownership Chapter 11: Sole Secured Creditor Moves to Dismiss on the Eve of Foreclosure Auction
ACRE CFPortfolio LLC argues that a Central Florida real estate holding company filed Chapter 11 to derail a UCC Article 9 sale that drew no qualifying third-party bidder across an 8,000-prospect marketing process
TRM NRE Holding Seeks $3 Million Junior DIP From Its Existing Sponsor
A 100 percent new-money facility from the equity sponsor and existing second lien holder, structured around a 1.5 priority lien, 10 percent PIK economics, and a 185-day path to plan confirmation
YesCare Affiliates File Chapter 11 After a $307 Million Verdict Triggers a Revenue Cascade
A Michigan jury verdict against the correctional healthcare operator precipitated the cancellation of contracts representing nearly 80% of annual revenue, sending four affiliated debtors into Chapter 11 in the Middle District of Florida
Spanish Broadcasting System Files Prepackaged Chapter 11
A Delaware filing seeking to exchange approximately $310 million in 9.750% senior secured notes for $70 million in new notes due 2030 and 100% of the new common stock, with confirmation contemplated within 55 days of the petition date and an effective date keyed to FCC approval