Debtwire Radio

Creditflux editorial staff discuss how the structured and synthetic markets are shaking off a sluggish summer. With host Seth Brumby, Creditflux Head of Americas, Deputy Editor Dan Alderson and Senior Reporter Hugh Minch.

On the September edition of the Debtwire Middle Market podcast senior reporter Bill Weisbrod sat down with Michael Fanelli, partner at accounting firm RSM to break down the quality of earnings process in an increasingly competitive market.

Last year, the United Nations Commission on International Trade Law (UNCITRAL) Working Group V revealed a new Model Law on the Recognition and Enforcement of Insolvency-Related Judgments. This has been referred to as “UNCITRAL 2” or “UNCITRAL lite” and establishes a framework for recognition and enforcement of foreign insolvency judgments. Morrison & Foerster’s Sonya Van de Graaff and Kathlene Burke of Skadden – who, as first Co-Chair and current Co-Chair of the International Women’s Insolvency & Restructuring Confederation’s (IWIRC) London Network, were both involved in the preparation of the new Model Law – sat down with Debtwire Europe Legal Analyst Dawn Grocock and head of European court reporting Hossein Dabiri to discuss the new Model Law’s aims and the road to implementation, the impediments to universalism in the UK (including the controversial rule in Gibbs and the recent OJSC International Bank of Azerbaijan case) and the US position.

Discussion on the US Virgin Islands has avoided a default so far by Head of municipal research; the anticipated opening of the American Dream Mall by Kathie O’Donell; and a roundup of the financial performance of certain nonprofit hospitals by Senior reporter Simone Baribeau.

The US automotive industry has undergone a rapid (and arguably unanticipated) response since the USD 81bn bailout that began more than a decade ago. After sinking to a low of nearly 10m units in 2009 (the lowest level since 1982), annual light-duty vehicle sales in the US steadily increased to 17.4m units in 2015, and have exceeded 17m units in each of the past four years. But what goes up must ultimately come down. In 1H19, light-duty vehicle sales declined 1%-2% YoY and the market is projected to miss 17m units for the full year. Much of the fatigue the industry faces is due to the uncertainty confounding the marketplace, marked by SUV superiority, “Dieselgate,” the fall of hybrids and the unanticipated embrace of electrification. Given this, Debtwire’s Richard Goldman recently welcomed Steve Wolf, President and Chief Commercial Officer for Hilco Industrial, and Keith Spacapan, Vice President of Hilco Valuation Services’ automotive practice, to the latest episode of Debtwire Radio to discuss the state

With a looming IPO, WeWork has topped the business headlines in the past weeks. From the buzz around valuation cuts, to management conflicts, and dropping bond values, the real estate firm has the markets divided on the resilience of its model. In this episode of ABS in Mind, we dive into the CMBS investors’ perspective, discuss the latest chatter among the landlords and brokers and hear the European perspective. Our guest for this episode is Manus Clancy, managing director at analytics platform Trepp.

Cov-lite deals are now a market norm, and the lack, or absence of covenants in leverage deals has often been cited as causes of why sponsors can take so long to nip problems in the bud. More recently, however, private equity sponsors have become more protective of their deals by including more and more clauses to limit debt ownership transferability in loan docs. While the long-term implications of these restrictions on debt restructurings are still being digested, the most obvious ramifications of expanding 'whitelists' has been to constrain market liquidity. JPMorgan’s executive director Ash Tehrani, the desk lawyer for the EMEA secondary loan trading desk, joins Adelene Lee, director of subscriber/content relations at Debtwire, to discuss how restrictions on loan transferability are impacting the distressed market. They also explore why limiting lenders' ability to sell out of problem credits could negatively affect how businesses restructure and how investors are able to manage their risk exposures dur

Litigation finance is a phenomenon growing at a monumental pace. Five years ago, capital committed to commercial litigation financing in the US totaled approximately USD 500m. Today, that capital commitment sits at approximately USD 10bn, according to Marc Carmel, co-head of McDonald Hopkins’ litigation finance group. Yet notwithstanding this growth, many questions remain about the industry’s demand, investment mechanics and funding arrangements, especially when they relate to distressed and restructuring litigation financings. To help unravel some of this mystery, Marc recently joined Debtwire’s Richard Goldman for the latest episode of Debtwire Radio. During their conversation, Marc and Richard explain the increased demand for commercial litigation finance in the US, examine how law firm portfolio funding has helped to spur this demand, and analyze the terms and structure of funding agreements that often govern litigation finance investments.

After university Andrew Cleland-Bogle had intended to join the army and had his offer to Sandhurst sorted before his brother suggested he try an internship in the city. Fast forward a few years and a couple of restructuring advisory roles and he is Managing Director at EQT Credit. Joelle Jefferis sits down with Andrew to chat about his want for better incentives to keep the market focused on common sense in deals, and EQT Credit’s secret weapon in securing the GBP 110m refinancing of Paymentsense. He also answers Thomas Kyriakoudis’ question from the previous episode on how many large players there will still be in European direct lending in five years’ time.

Muni Lowdown: COFINA, Virgin Islands, Kentucky P3 And National Law Enforcement Museum by Debtwire Radio

DWMM: JMP’s Chris York on consolidation in the BDC world by Debtwire Radio

ABS in Mind, the new podcast series from Debtwire ABS, presents listeners with the most top-of-mind issues in the asset backed markets, from real estate to fintech.

Muni Lowdown Illinois Lawsuit, Opioid Litigation, Oroville Overturned And Las Vegas Monorail by Debtwire Radio

DW/XT: White & Case bankruptcy pro on restructuring the next wave of cov-lite debt by Debtwire Radio

In this episode of Debtwire ABS podcast, Jeremy Berger and Igor Pesin discuss Arival bank’s plans in the US, their fundraising efforts and plans for global expansion. The bank will target ‘abnormal’ customers, including businesses in the cryptocurrency sector, tech startups, freelancers and micro businesses, which have limited to no access to traditional banking services.

Muni Lowdown: Puerto Rico’s Governor Keeping A Low Profile, Newark’s Water Problem And More by Debtwire Radio

LIVE EVENT: Sanchez Energy free fall sets stage for battle of ad hoc groups by Debtwire Radio

DWNA: Locke Lord partners analyze intercreditor waterfall protocols by Debtwire Radio

Muni Lowdown: StarShine, Puerto Rico, Virgin Islands And Milwaukee County by Debtwire Radio

The Inside Track, Episode 17 – Tom Lauria by Debtwire Radio