Bankruptcy Blogs

The Broke and the Beautiful: Soundelux Edition

05/23/14

This week on The Broke and the Beautiful, Soundelux entered bankruptcy protection, and four 38 Studios executives want to keep some documents out of public view. Also, Girls Gone Wild founder Joe Francis got arrested.

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Weekly Wrap: Helping Homeowners; Preparing for ACA Disruption

05/23/14

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

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Energy Future Starts Moving Pieces on Chapter 11 Chessboard

05/23/14

Energy Future Holdings Corp. has agreed to discuss an alternative bankruptcy loan offer from a group of bondholders it’s trying to win over as it pushes ahead on a multi-front restructuring strategy.

The bankruptcy loan offer comes from the smallest and possibly least perturbed group of unhappy creditors in the Chapter 11 case, but the agreement to negotiate is a sign of progress in Energy Future’s effort to reshape its balance sheet in bankruptcy.

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Healthcare Lenders Should Prepare for ACA Turmoil

05/23/14

The dramatic headwinds of the Affordable Care Act will result in increasing defaults and bankruptcy for many healthcare operators. Lenders should start evaluating risk in their healthcare portfolios now.

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Morning Scan: Barclays Fined for [Insert Misdeed Here]; AML's Collateral Damage

05/23/14

Receiving Wide Coverage ...

Another Day, Another Fine: Barclays again, $43.9 million, for manipulating gold prices. Wall Street Journal, Financial Times, New York Times

Housing: Sales of previously owned homes rose in April for the first time this year, and per "Heard on the Street," new home sales data due out Friday is expected to show a rebound from March's anemic figure. Affordability remains a challenge, though, this Journal column notes, and according to the Times, in...

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The Daily Docket: Energy Future Bankruptcy to Stay in Delaware

05/23/14

Energy Future Holdings Corp.’s $42 billion bankruptcy will remain in Delaware, a judge said Thursday, dashing the hopes of unhappy creditors who wanted to see the big Chapter 11 case moved to the company’s home state of Texas. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Siphoning Value through Captives: Private Equity and Securitization

05/22/14

Yves Smith has a fascinating post about how private equity firms (which, as she notes in the comments is largely a polite rebranding of "leveraged buyout firms") charge fees for services provided by captive affiliates to their portfolio companies.  On some level none of it is anything so new--part of the LBO game has always been to suck out fees and dividends from the target company, while gambling that the target would be able to service the debt incurred for its acquisition.

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Turnaround Professionals Help Launch New York Business Mentoring

05/22/14

When Hurricane Sandy hit the northeast in late 2012, devastating parts of New York and New Jersey, many turned to local organizations asking for ways to help those that didn’t weather the storm well.

As residents up and down the East Coast came together to collect debris, rebuild homes and nail down boardwalk planks, members of the Turnaround Management Association of New York saw a group that had largely been left to fend for itself: small businesses.

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Soundelux Enters Bankruptcy, Seeks Cash

05/22/14
This publicity image released by HBO shows Peter Dinklage, left, and Sophie Turner in a scene from “Game of Thrones.” Todd-Soundelux, which recently filed for bankruptcy, has done sound for the TV show.
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