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 6 likes 21 Sep 21
Part I. What is Evergrande? So this one is a colossal clusterf*ck. Shenzhen-based The Evergrande Group ($EGRNF) is China’s second largest property developer by sales and the 122nd largest developer in the world by revenue according to the 2021 Fortune Global 500 List.* While its core business is buying land and developing it into residential real estate, it is really an investment holding company that, in addition to property development, dabbles (or dabbled, as the case may be) in hotel operations, finance, internet businesses (for real estate and automobile sales), professional sports, theme parks, mineral water and health industry businesses. This sucker has had its tentacles in a lot of pots over the years, leveraging billionaire founder
PETITION 1 likes 17 Oct 21
Red River Waste Solutions LP, a TX-based family-run waste management services company that services more than 310k households and commercial locations across the Southern and Midwestern US, filed for chapter 11 bankruptcy in the Northern District of Texas earlier this week, continuing the theme of relatively small cases ending up in bankruptcy courts ac…
PETITION 1 likes 17 Oct 21
We told you so. Back in June, we profiled NJ-based Teligent Inc. ($TLGT) and noted how the specialty generics pharmaceutical company was … well … as we put it then … “total trash.” Now it, and three of its affiliates are chapter 11 bankruptcy filers in the District of Delaware.
PETITION 1 likes 17 Oct 21
Florida-based Gulf Coast Health Care LLC and 61 affiliates (the “debtors”) is the latest in a string of skilled nursing facilities to wind its way into chapter 11 bankruptcy proceedings. The debtors filed in the District of Delaware. Some specs: 📍The debtors operate 28 SNFs across FL, GA and MI. They have 3350 licensed beds.