PETITION

Curated financial news, analysis and commentary with an emphasis on distressed investing, restructuring and bankruptcy. We discuss disruption, from the vantage point of the disrupted.

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PETITION's top posts of the month

By hacker news affinity
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PETITION 6 likes 14 May 23
Lumen Technologies Inc. ($LUMN), Roman Catholic Bishop of Oakland, Loan Depot Inc. ($LDI), Christmas Tree Shops LLC, Audacy Inc. ($AUD), Joann ($JOAN) & More
PETITION 0 likes 14 May 23
On May 8, 2023, the Roman Catholic Bishop of Oakland (the “debtor”) filed a chapter 11 bankruptcy case in the Northern District of California (Judge Lafferty) — the latest in a string of dioceses to descend into bankruptcy court because of a deluge of mass tort cases (330+) emanating out of decades-old and statutorily-reinvigorated sexual abuse allegati…
PETITION 0 likes 14 May 23
On May 5, 2023, MA-based and family-owned Christmas Tree Shops LLC and four affiliates (collectively, the “debtors”) filed chapter 11 bankruptcy cases in the District of Delaware (Judge Horan). Actually … it could be a whole lot worse. The debtors operate 82 stores in 20 states and, while the company name is “Christmas Tree Shops,” the debtors spent the last three years putting emphasis on the rebrand to “CTS” with a focus on everyday shopping, carrying 30k skus that could be managed through the debtors’ Middleboro Distribution Center. This apparently is a more attractive proposition than buying a Christmas tree in the middle of May: “
PETITION 0 likes 17 May 23
On May 14, 2023, NY-based and publicly-traded Athenex Inc. (“Athenex,” $ATNX) and five affiliates (the “debtors”) filed chapter 11 bankruptcy cases in the Southern District of Texas (Judge Jones). The debtors are a global oncology-focused biopharma company with one drug in the market (
PETITION 0 likes 17 May 23
On May 14, 2023, MA-based Kidde-Fenwal Inc. (“KFI” or the “debtor”) filed a chapter 11 bankruptcy case in the District of Delaware (Judge Silverstein), a hybrid case joining together two recent dominant but typically segregated themes in bankruptcy: mass torts and asset sales!