PETITION

Our beloved Johnny found himself in NYC recently and opted, on a sweltering summer day, to take an MTA bus rather than suffer the Hades that is NYC‚Äôs underground subway system. As the Select-bus pulled up, a dozen people disembarked while about two score piled in. Only Johnny‚Äôs dumba$$ actually paid. Literally. So how did he pay? He tapped his iphone to San Diego-based Cubic Corporation‚Äôs (‚ÄúCubic‚ÄĚ or the ‚Äúcompany‚ÄĚ) fancy touch screen and Apple Inc. ($AAPL) took care of the rest.

… a biglaw attorney recently told Johnny, while getting ready to tee up. On a Tuesday afternoon. The irony decidedly lost on the guy. “Suuuuure you are,” thought Johnny, “the entire industry is twiddling their thumbs but you’re super crazy busy, got it.” Cue the 🙄. Yes. Johnny is judgmental as f*ck. But the numbers back his skepticism. On Friday, July 17, 2026, Fitch Ratings (“Fitch”) issued new commentary.

On June 26, 2026, Braskem S.A. and five affiliates (collectively, the ‚Äúdebtors‚ÄĚ and together with their non-debtor affiliates, the ‚Äúcompany‚ÄĚ) filed long-anticipated chapter 15 recognition proceedings through their foreign representative Antonio Reinaldo Rabelo Filho (the ‚Äúforeign rep‚ÄĚ) in the Southern District of New York (Judge Wiles).

Holy hell, is the appellate process slooooooooooow.

Let‚Äôs dive into the big recent chapter 11 filing and get into some updates. LFG! What even is a ‚Äúprepack‚ÄĚ? At one point, Johnny thought he knew ‚ÄĒ a filing that was expected to go smooth as butter on account of prebaked widespread support. More and more though, he isn‚Äôt sure. Case in point.

What even is a “prepack”? At one point, Johnny thought he knew — a filing that was expected to go smooth as butter on account of prebaked widespread support. More and more though, he isn’t sure. Case in point. On June 30, 2026, EchoStar Corporation ($ECHO)-owned, Englewood, CO-based DISH DBS Corporation (“DBS”), DISH Wireless L.L.C. (“DWLLC”), and sixteen…

On June 24, 2026, Camp Mystic LLC and three affiliates (the “debtors”) filed chapter 11 bankruptcy cases in the Southern District of Texas (Judge Lopez) and we’re gonna be up front here: we’ve got no jokes for this one. Originally built in 1926, the debtors own/operate a private Christian girls summer camp named Camp Mystic in the hill country of west-central Texas.

The team had been scattered for the holiday and now we’re playing catchup. Let’s dive right in âŹ‡ïž with two short updates and some unfortunate coverage. In March ‘26, we covered Skillsoft Corp. ($SKIL)(”Skillsoft” or the “company”), the New Hampshire-based digital learning platform for enterprises to teach employees about leadership, technology, and compliance.

On June 28, 2026, Austin-based U.S. TelePacific Corp. and 11 affiliated debtors (collectively, the "debtors") ‚ÄĒ ‚Äúnational provider[s] of managed IT services spanning connectivity and networking, cybersecurity, communications, and information technology infrastructure services to business customers across the United States‚ÄĚ ‚ÄĒ filed chapter 11 bankruptcy cases in the Southern District of Texas (Judge Perez). Why?

On June 28, 2026, Austin-based U.S. TelePacific Corp. and 11 affiliated debtors (collectively, the ‚Äúdebtors‚ÄĚ) ‚ÄĒ ‚Äúnational provider[s] of managed IT services spanning connectivity and networking, cybersecurity, communications, and information technology infrastructure services to business customers across the United States‚ÄĚ ‚ÄĒ filed chapter 11 bankruptcy cases in the Southern District of Texas (Judge Perez). Why?