Distressed Debt Investing


 

You may have heard about an important case between Reorg Research and Murray Energy. The case was a potential landmark for journalists and media organizations in New York and beyond.

Court decision energy journalists Murray Reorg Shield Supreme team York

 

One thing that we constantly try to do at Reorg Research is look at how the buy side, bankers, traders and lawyers are consuming source information through other channels, platforms and mediums and improve upon those functionalities.

You can access any SEC filing on Reorg Research and get instant alerts on any company out there (distressed or not distressed).

bankers constantly consuming distressed filing Lawyers platforms Reorg side traders

 

Official Launch of Reorg Covenants [0.27]

Posted on April 4, 2017, 6:35 p.m. by Distressed Debt Investing @ [source]

As many of you know, last year we rolled out a beta of Reorg Covenants. We saw a void in the market for a product that combined subject matter expertise around complex capital structures, whether it be a high yield or investment grade credits, along with innovative technologies that would make the analysis of indentures, credit agreements and other debt documents more efficient, effective and intuitive.

capital combined complex credit expertise market matter product subject void

 

As in years past, Reorg Research will be acting as a Media Sponsor at this year’s Annual Wharton Restructuring and Distressed Investing Conference , which will take place at New York City’s Plaza Hotel on Friday, February 24.

The schedule is jam-packed with exciting restructuring panels, case study presentations and keynote speaker discussions including appearances from James G. Dinan, Founder, Chairman and CEO of York Capital Management and Glenn R. August, Founder and CEO of Oak Hill Advisors.

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Reorg Research is very excited to sponsor the 11th Annual Credit, Restructuring, Distressed Investing & Turnaround Conference. The conference is being held Friday, March 11th at the University Club of Chicago.

agenda bios Chicago Club conference Friday held panelist speakers University

 

This blog will try to dissect distressed debt investing, up and down the capital structure. We will look at current distressed debt situations, try to explain the ins and outs of how decisions are made in the distressed debt world, probably rant a few times about positions that are working against me, and hopefully enlighten some readers.

current debt distressed explain ins made outs rant situations Times

 

Just a quick reminder that the 12th Annual Wharton Restructuring and Distressed Investing Conference will be taking place next week, Feb 26th at the Plaza Hotel here in New York. Since our last past, Anthony Yoseloff, MD at Davidson Kempner has been added as another keynote speaker.

Anthony Davidson Kempner keynote MD past Speaker Yoseloff

 

For many years, Distressed Debt Investing and Reorg Research have encouraged readers to attend the always fantastic Wharton Restructuring and Distressed Investing Conference. The 12th Annual Wharton Restructuring and Distressed Investing Conference will be held on Friday, Feb 26 at the Plaza Hotel here in New York.

annual conference distressed Feb Friday held Investing panel restructuring Wharton

 

Distressed Investments Forum [0.06]

Posted on Jan. 22, 2016, 2:57 p.m. by Distressed Debt Investing @ [source]

On March 9 and 10th, DDC Financial Group is hosting The Distressed Investments Forum in London. Panels for the conference include many interesting topics including geographic focuses on Spain, Greece and emerging markets, the European NPL outlook, commercial real estate and my favorite, a presentation entitled: "Setting up and Running a Bad Bank in Greece – Key Lessons Learned.

arena companies debt distressed European Greece Numerous past themes told

 

Importantly, the patent in question supports Shire's very profitable drug LIALDA, which according to Shire's most recent investor presentation generated $634 million in sales in 2014, up 20% year over year .

Shire has initiated infringement cases concerning Patent #6773720 on numerous occasions over the past few years against generics that target the same health conditions in which LIALDA is prescribed to treat.

 

Reorg First Day [0.03]

Posted on Aug. 10, 2015, 3:40 a.m. by Distressed Debt Investing @ [source]

Secured debt: In excess of $500,000 of liens have been placed against the company’s Belle Grove #1 well in Louisiana. Unsecured debt: More than $10 million in unsecured debt, including accounts payable of about $2.1 million, and amounts owed to critical vendors of about $317,000.

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One of the main focal points of discussions in the distressed world the past two weeks has been the shocking Nortel allocation opinion that moved bond prices precipitously over the past few weeks.

Last night the U.S. debtors as well as the ad hoc bondholders filed motions for reconsideration of that opinion.

allocation allowed bondholder claims debtor include legal motions recoveries Reorg

 

This evening, Hayman Capital through the entity "Coalition For Affordable Drugs" filed a petition for Inter Parties Review on a patent controlled by Shire PLC. Importantly, the patent in question supports Shire's very profitable drug LIALDA, which according to Shire's most recent investor presentation generated $634 million in sales in 2014, up 20% year over year.

drug Importantly IPR law Lialda patent presentation recent Shire supports

 

Reorg Research is hiring a number of Covenant Analysts who are experts in high yield bank and bond financings.

The Covenant Analyst will work closely with our team of in-house experts (from both legal and financial backgrounds) and will be responsible with the rest of the team for producing research, analysis and reporting on covenants and credit documents.

candidate credit financing firm ideal investment law team working years

 

As with years past, the conference has a stellar line up of panels and panelists to discuss the current trends and issues facing the distressed debt universe.

Additionally, there will be two roundtables titled “Profiting from Financial Liquidations” and “Opportunities in Distressed Real Estate.” Other speakers include professionals from firms such as KKR Credit, HSBC, Citibank, Schultze Asset Management, Archview Investment Group, Raith Capital Partners, GLC Advisors, Blackstone, Apex, Centerview Partners, Eyck Capital, BB&T Capital Markets, Siguler Guff & Co., Maglan Capital, Deutsche Bank, Bowery Investment Management, Guggenheim Partners, PMD Capital, Versa Capital Management, Schulte Roth, WAMCO, Orrick Herrington and Sutcliffe, Weil Gotshal, Alumcreek HOldings, Marathon Asset, Alcentra, Halcyon and HIG Capital.For more information visit the 6th Global Distressed Investing Summit page.

distressed Feb funds hotel Lane Park representatives senior summit York

 

The Wharton Restructuring and Distressed Investing Conference is always one of the best conferences of the year. Looking Past the Current Market Cycle.” This conference is always a valuable source of insight and networking opportunities for distressed debt and restructuring professionals.

conference current cycle distress insight market past signs theme valuable

 

In the past we have interviewed a number of emerging hedge fund managers whose strategy and style of investment we particularly respect.

You started your career in equity research, how did you find yourself in distressed debt investing?

AAMRQ advantage banks capital distressed Investing market position significant sold

 

Reorg Research has actively covered the various GSE litigations ongoing in the District Court of the District of Columbia, the Court of Federal Claims, and Iowa. Using our technology, we were one of the first to break the dismissal filed by Judge Lamberth.

acting scope Court FHFA GSE HERA Importantly Judge Lamberth opinion put Treasury

 

Reorg Research is currently seeking a Distressed Debt Analyst to join our team of experienced, successful and highly motivated individuals at one of New York City’s fastest-growing and most successful start-ups. The analyst will be an industry generalist, covering in- and out-of-court restructurings, distressed and post-reorg situations.

analyst Court covering distressed generalist in industry of out restructurings

 

In my estimation, and from talking to our clients, Reorg Research is providing the very best, most informed news, analysis, and commentary on the hottest topic in distressed: Puerto Rico.

Last week, a few members of our team wrote a piece laying down some of the legal issues inherent in the some of the various litigations coming out of the U.S. District Court for the District of Puerto Rico.

act bankruptcy BlueMountain code law PREPA Puerto Puerto Rico Recovery Act Rican