Excess Spread — Pontiffs and Pontification

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News & Analysis

Distressed

Cleared for restructuring: Airline Chapter 11 in a new era

Airline distress is back, and it looks nothing like the last cycle. Supply chain failures, grounded fleets and a changed financing landscape are rewriting the rules of aviation restructuring, and the market is still catching up. We hosted a webinar called Cleared for restructuring: Airline Chapter 11 in a new era to discuss this evolving landscape. Our head of bankruptcy, Kat Corey, was joined by Michael Burke (partner, Pillsbury), Chad Husnik (partner, Kirkland & Ellis) and Anne Wallace (senior managing associate, Sidley Austin).

11 Jun 2026

| US

News & Analysis

Distressed

Private Credit

Private equity firms heighten scrutiny on creditor advisory bills

Some private equity firms are starting to take a deeper look into fees from creditor advisors in a bid to avoid further equity erosion, according to 9fin sources.

10 Jun 2026

| US

9Questions

Private Credit

9Questions — Ming Eng, Granite Asia — Where is private credit headed in Asia?

Private credit is having a moment in Asia. It’s been growing fast from a small base and has made inroads to a lending environment still dominated by traditional banks.

10 Jun 2026

| APAC

Podcasts

Distressed

Cloud 9fin — The In-court Report — What Bitcoin Depot’s bankruptcy means for creditors (and scam syndicates)

Bitcoin Depot went from a $600m, publicly-traded business to bankrupt in a matter of months, but the story around the company and other crypto ATM providers has been brewing for years. We happen to have just the guy on staff to break it all down.

9 Jun 2026

| Global

News & Analysis

CLO

Japanese investors tilt towards European CLOs amid portfolio rebalancing

Greater integration and globalisation has not been the direction of travel for most of the world in recent years with Covid, energy market shocks and tariff escalations increasing barriers and shortening supply chains. So it’s refreshing to see a CLO market that is running counter to this theme with an investor base that spans the world.

8 Jun 2026

| APAC

| US

| Europe

News & Analysis

Distressed

LevFin

Private Credit

Optiv maps out how to A&E without an LME

By the end of 2025, Optiv was in a tight spot. The KKR-backed cybersecurity value-added reseller had more than $1bn of first-lien, second-lien and ABL debt maturing over the next two years, most of it in 2026. The first liens were trading in the low 70s, and a last-ditch effort to sell its managed services business had petered out; the company was effectively un-refinanceable.

5 Jun 2026

| US