💥PETITION💥

Strongly considering starting a subreddit called "WallStreetDebts" to discuss: 📍Independent directors who are clearly not independent 📍PE shops' shameless div recaps and financial pillaging of balance sheets 📍Sh*tty lawyers who violate ethics on the reg. 📍Arrogant judges

@BoringBiz_ Lol.

Criminally underrated article and account Easily one of the best Chapter 11 and restructuring related write ups you will read on this platform

For FY25, Sleep Number Corp. ($SNBR) reported reported net sales of $1.4b,⬇️16% YOY; gross profit margins of 59%,⬇️60bps; and Adjusted EBITDA of $78mm,⬇️35% YOY with margins⬇️160bps to 5.5%. But don't worry, Travis Kelce is now on board with a brand partnership, 🙄. Link in bio.

I asked a third-year to summarize a 200-page deposition. He turned it around in 48 hours. It was actually quite good. I didn't tell him that, obviously. I replied, "Is this the final version?" I saw him typing for ten minutes, then stopping, then typing again. He replied, "I can take another look." He spent the entire weekend rewriting it. He sent v2 on Sunday night. I responded, "I liked the first one better. Let's use that." He looked like he wanted to cry. He essentially billed twenty hours to revert to the original draft. I bill for the review time on both versions. Insecurity is a billable asset. If they aren't second-guessing themselves, they aren't trying hard enough.

@bankingslut @AyyouEm @piktoggle_ @lolviolence @sindap Looks like slut is saying anyone but @Restructuring__.

@petition @AyyouEm @piktoggle_ @lolviolence @sindap

Aside from @petition of course, what are the top RX/credit oriented X accounts to follow? Let's start a list 👇...

Really wish this damn feed would stop pumping threads about how AI is the future and would go back to pumping threads about how NFTs are the future.

More like investment analysts heading into the office on Monday to have a cause action to sue Centerview Partners for now that they've settled the last one.

excited to see what innovations private equity will bring to the… hospice industry:

💥Tariff Relief?💥, by @petition open.substack.com/pub/petition/p…

Seems like a good time to bring back this classic.

PETITION is a media partner to this year’s private credit focused Wharton Restructuring & Distressed Investing Conference taking place at The Plaza Hotel in New York City on Friday, February 20, 2026. Use PETITION10 at checkout for discount: 2026.wrdic.org.

Any one else notice that February has introduced the return of crypto-related chapter 11 bankruptcy? Link in bio to signup for PETITION before our latest drops in a few hours.

@DasWreck That's good stuff. But what do the private equity overlords say?

I have legal analysts (writers) worried about AI, esp with the “all in” baloney every company is pulling. I tell them this is like Cervantes getting worried about losing his job due to mass literacy and the printing press. More people will “write” now, using AI, and there will be more text generated than ever, and there is def money in that. But there will always be a market for high quality. Generative text is always going to be quality-limited by its inputs and expectations; it’s a mass medium (it has to be considering the massive expense required and the revenue expectations of the market). I tell them @OctusCredit stuff should be a luxury good for experts and insiders, people who expect hand-made perfection, and there’s always demand for that. You just gotta be really good at your work. And yes, Cervantes wrote a TON about LMEs and their destabilizing effect on debt markets

Blue Owl classifies the same company as “chemicals” in one fund and “software” in another. Same loan. Same borrower. Different label. Their explanation: “Each fund has a different investment strategy, so classifications can differ.” This is what self-reported disclosure looks like. You get to pick your own sector the same way you get to pick your own marks.

@beehiiv - can someone please reach out to us. Thanks.

Note the month. This is BEFORE last week's market vomit.

Kirkland & Ellis LLP chapter 11 bankruptcy cases and jurisdictions where they've filed thus far in 2026: 📍STG Logistics Inc. -- NJ 📍Pretium Packaging LLC -- NJ 📍Multi-Color Corporation -- NJ 📍Nine Energy Service Inc. -- Texas 📍Eddie Bauer LLC -- NJ 🤔

Major Rorshach test. One person sees cooperation agreements as anti-competitive antitrust violations whereas another see free market participation.

Anyone else notice how Gemini can't pass a basic typing test? Ask it to write Oaktree and it will pump out Oaktroe.

We were so flustered by this Johnny literally just fat-fingered a post. Happy Friday.