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Sponsor-backed companies' share of overall defaults surged to the highest ever, while Fitch found LMEs and distress depressed recovery numbers.
The decision increases uncertainties for creditors and distressed debtors contemplating liability management deals.
New records are being set in the CLO market on both sides of the Atlantic, despite a subdued M&A market.
A plethora of pressures point to challenging times for some parts of the private debt market.
Judge’s ruling does not give a number to pension liability but suggests that it will far exceed the debtors’ assets.
Barclays’ liability management exercise report depicts a normalisation of the practice, and a scramble for creditors to protect themselves.
The 'disease' may be curing itself, one expert suggests, as self-interest has incentivised restraint.
The latest twist in trucking company Yellow’s litigation may bring some relief to funds holding debt of firms engaged in pension controversies.
SoftBank’s March 2023 uptiering has met resistance in the wake of WeWork’s November chapter 11 filing.
Tough times may lie ahead for the UK – but will expectations for distressed activity be realised this time?