Benchmark prior transactions, bonds, loans or company profiles using over 300 credit metrics.

Comparables

AI transcripts & instant analysis, making earnings season easier than ever.

Earnings

A full suite of ESG data and analysis. Built for your workflow

Spot undervalued credits and potential future restructurings with our purpose-built tools.

Distressed and Restructuring

We use AI to aggregate newsflow from 2,000 sources, and deliver it to your inbox quicker than anyone else.

News

Full Financial profiles with 3 statements, KPIs, segment splits & credit metrics. All traced to source documents.

Financials

New deal analysis and covenant comparison tools, understand key risks in seconds not days.

Covenants

We've successfully predicted more than 65 price sensitive events - before they happened.

Deal predictions

Say goodbye to CTRL + F with our powerful search. Thousands of documents text searchable for any keyword or phrase.

Search

Track high yield deals from issuance through to maturity, with integrated legal, credit and ESG analysis.

High Yield Bonds

Shine a light on private markets with 9fin's news and legal analysis of syndicated loans

Leveraged Loans

21st century tech and expert analysis to help CLO teams make informed decisions faster.

Structured Credit 

Find information others can't see in one of the fastest growing corners of finance

Private Credit 

Cat Corey

Kirkland & Ellis defeated an attempt by the UCC and UST to prohibit it from representing Invitae in the company’s Chapter 11 case at a hearing held yesterday, 7 May. In addition, Invitae received approval of the sale of substantially all of its assets to Labcorp Genetics for a cash price of $239m plus the assumption of certain liabilities.

Both the UST and UCC objected to the debtors’ retention of Kirkland due to Kirkland’s past and current representation of Deerfield Partners in matters not related to Invitae’s bankruptcy case. Deerfield is a prepetition secured creditor of the company, and participated in a 2023 uptiering transaction with the debtors.

Kirkland denied that it was conflicted out of representing Invitae due to the fact that it had received waivers from Deerfield at the time it signed on as a client with Kirkland. In addition, Deerfield accounted for just 0.03% of Kirkland’s annual revenue in 2023. Mark McKane, who argued for the debtors, also pointed out that disqualifying Kirkland this late in the game would only result in harm to the company and its estate, especially considering that the company plans to file a plan and disclosure statement later this week.

Christopher Shore, of White & Case, argued on behalf of the UCC that the UCC did not want Kirkland completely disqualified. Instead, the UCC was just seeking to have some “guardrails” put in place with respect to the areas of the case that Kirkland could and could not work on due to the fact that the UCC believed that Kirkland had an actual conflict with respect to Deerfield.

Judge Michael Kaplan agreed with the debtors that Kirkland was disinterested and overruled objections to its retention application.

Also addressed at the hearing was the UCC’s emergency motion to extend the challenge period. The UCC is investigating the 2023 uptiering transaction and the challenge period currently runs on 15 May. While the UCC originally sought to argue the motion at the hearing, the judge scheduled a status conference to discuss the relief requested. The court and the parties will pick up the motion at a hearing on Tuesday next week.

Enjoyed this article? Our customers receive news and analysis ahead of the crowd on the 9fin platform. To request a trial, click the button below

Kirkland & Ellis defeats objections to retention in Invitae

Ryan Daniel

Laura Thompson

Nicolle Liu

Lenders resist KKR’s co-op ban in Stepstone carve-out financing

Max Reyes

Rachel Butt

Max Frumes

US distressed year in review 2024 — co-ops proliferate as companies and sponsors seek solutions

Alessia Argentieri

Winding Up — Water bills will drown customers in the new year as Thames saga continues

Shubham Saharan

9Questions — Ashwin Krishnan, Morgan Stanley — Opportunistic credit finds itself in the LP spotlight

Turbocharge your trading desk P&L, with the market's fastest news alerts.

Sales & Trading

Save time, react faster to news, outperform your peers.

Asset Managers & Hedge funds

Save time, pitch more efficiently, and win business.

Investment Banks

Spot novel covenants, save time drafting and win business.

🍪 Our Cookies

Kirkland & Ellis defeats objections to retention in Invitae

Read all our public content for free

Recently Published

Lenders resist KKR’s co-op ban in Stepstone carve-out financing

US distressed year in review 2024 — co-ops proliferate as companies and sponsors seek solutions

Winding Up — Water bills will drown customers in the new year as Thames saga continues

9Questions — Ashwin Krishnan, Morgan Stanley — Opportunistic credit finds itself in the LP spotlight

What are you waiting for?