Expert Views: Breaking The Bank Holding Company: The Extraordinary Power of Bankruptcy Code Section 365(o)

Editor’s Note: Below is the latest in Reorg’s Expert Views series: an article written by Martin J. Bienenstock and Vincent Indelicato of Proskauer Rose LLP. Date originally published: Mon 03/13/2023 02:41 PM GMT Over the last several days, alternative capital providers have raced to identify new money opportunities exacerbated by distress across the regional banking sector, from bidding on deposit claims to structuring rescue loans for portfolio companies with imminent payroll obligations. This underwriting exercise inevitably brings into focus one very important question: What happens when a holding company of an FDIC-insured bank subsidiary files for chapter 11? One answer...

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Reorg Webinar: Digital Bank Runs and a New Cycle of Bank Distress?

Reorg Webinar: Digital Bank Runs and a New Cycle of Bank Distress?

Throughout the year, Reorg hosts webinars bringing together industry professionals to discuss themes in the performing, distressed, restructuring and post-reorg credit markets. Register for our upcoming webinar here. On Thursday, March 23, we will discuss the fallout from the failure of Silicon Valley Bank, including regulatory responses and legal processes that will impact creditor recoveries. Reorg is excited to have an esteemed group of panelists whose deep background in restructuring financial institutions will set the stage for a wide-ranging discussion of risks and opportunities for investors stemming from the emerging pressures in the financial system caused by recent market events....

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Turbulent days in global markets…

Turbulent days in global markets…

After several turbulent days during which some $42 billion of deposits was yanked from Silicon Valley Bank, the bank’s holding company, SVB Financial Group, was placed into Federal Deposit Insurance Corp. receivership on Friday, March 10. The news sent shock waves across global markets, and the extent of repercussions from the financier's collapse on startups and financial services in general remains unknown. To help our subscribers stay on top of a rapidly evolving situation, Reorg’s editorial team published a series of articles, including a snapshot of the bank’s financial liabilities, counterparties that might suffer from its failure, an insight piece...

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Reorg Webinar: China Real Estate 2022 Review, 2023 Recovery Prospects

Reorg Webinar: China Real Estate 2022 Review, 2023 Recovery Prospects

2022 saw the China real estate sector undergoing unprecedented offshore and onshore debt restructurings. Toward the end of the year, three policy “arrows” aimed at improving developers’ financial conditions were fired, along with the release of other stimulus policies. Will 2023 bring about a fresh start for the industry? What will a recovery of the housing market look like? How will messages coming out of the “two sessions” (两会) affect the prospects? What lessons can be drawn from 2022? On Tuesday, March 28, Reorg will be hosting a webinar featuring Robert Ciemniak, founder and CEO of Real Estate Foresight, and...

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Fundamentals by Reorg: Comprehensive Financial Data

Fundamentals by Reorg: Comprehensive Financial Data

Reorg is combining the extensive coverage of Aggredium and FinDox Analytics, and leveraging the best features of both platforms to create an even more powerful solution: Fundamentals by Reorg. As we work to finalize and roll out this solution we’ll keep you posted on new content and capabilities you’ll have access to. This expanded platform provides the largest set of fundamental financial data on both private and public subinvestment grade companies in Europe and the U.S., and leverage the best features of both platforms, including: Best-in-class library of 2,500+ financial models on private and public sub-investment-grade loan and bond issuers...

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Vedanta Resources: Funding Gaps, Prospective Plans and THL Zinc Deal

Vedanta Resources: Funding Gaps, Prospective Plans and THL Zinc Deal

Panelists: Jeff Burton, senior legal analyst (moderator); Malvika Joshi, India editor;Junguang Tan, director; andKen Yao, credit analyst. On Monday, Feb. 27, we held a discussion of Vedanta Resources Ltd., which is among India’s largest high-yield issuers and one of the most volatile Asian credits. We considered its funding gap, prospective financing plans, the potential THL Zinc related-party transaction and the issuance/credit structure of the dollar bonds.    As Vedanta Resources approaches the end of its 2023 fiscal year on March 31, it has achieved the halfway point of its $4 billion deleveraging target. However, the company has significant maturities coming due in...

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