Topic: DIP financing

Global cancer care and radiotherapy specialist GenesisCare has secured confirmation of a Chapter 11 plan in Texas to shave off US$1.7 billion from its US$2 billion debt pile.

27 November 2023

Co-working start-up WeWork has sought Chapter 11 protection in New Jersey after weeks of speculation, announcing a plan to slash its debt by US$3 billion and secure funding from its majority shareholder, Japanese technology investment group SoftBank.

07 November 2023

Documents seen by GRR have shed further light on the first major restructuring in the UAE under its 2016 Bankruptcy Law – a case that local practitioners say shows the Emirates’ onshore courts are just as competent at handling complex group restructurings as their offshore courts.

28 September 2023

Singapore-listed healthcare and energy holding company New Silkroutes has entered a debtor-in-possession facility agreement with Canadian real estate investment group Ontario, a week after launching a pre-packaged scheme.

14 September 2023

Canada-headquartered production company Bron Media, responsible for financing and producing critically acclaimed films such as Joker and Liquorice Pizza, has secured Chapter 15 recognition of its Canadian restructuring in the face of opposition from two US-based investors.

21 August 2023

Ohio-headquartered cash machine manufacturer Diebold Nixdorf has secured Chapter 15 recognition of its Dutch WHOA proceeding and obtained approval for a Chapter 11 plan that will cut US$2.1 billion in debt through an equity swap with creditors.

13 July 2023

Nashville-based oil and gas company Alpine Summit Energy Partners has sought bankruptcy protection in Texas, citing the increasing difficultly of finding funding for projects in the sector, as it faces objections to a US$15.5 million debtor-in-possession facility agreed with its bank lenders.

07 July 2023

São Paulo bankruptcy judge and co-chair of the International Insolvency Institute’s judicial committee Judge Daniel Carnio Costa tells GRR about his central role in helping reform Brazil’s bankruptcy law, new tools he would like to see added to the statute book and how time spent studying in the US and Europe helped shape his innovative approach to restructuring.

23 June 2023

Instant Pot and Pyrex maker Instant Brands has secured recognition of its Chapter 11 in Canada, after a Texas court allowed it to tap into a debtor-in-possession facility that it will use to repay a promissory note issued to its equity sponsor as part of refinancing in January.

21 June 2023

In what is the first order of its kind, a Delaware court has authorised bankrupt Seattle-based crypto platform Bittrex to obtain a debtor-in-possession loan to be paid and repaid entirely in bitcoin.

13 June 2023