Codira ESQ Bankruptcy & Restructuring

Turn Financial Distress Into Restructuring Intelligence.

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Bankruptcy and restructuring matters bring together enormous volumes of financial, legal, operational, and creditor information—often under intense time pressure. Debt. Assets. Creditors. Claims. Contracts. Leases. Liens. Cash flow. Litigation. Executory contracts. Financing. Court filings. Deadlines. Plans. Distributions.

Codira ESQ transforms that complexity into connected restructuring intelligence.

Know the capital structure. Understand the claims. Follow the money. Control the process.

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Bankruptcy Is a Connected Financial System.See the Case as a Financial and Legal System.

A bankruptcy case isn’t simply a docket. Every creditor connects to a claim. Every claim connects to an obligation. Every obligation may connect to collateral, contracts, guarantees, entities, transactions, or disputes.

✓
Debtor
✓
Entities
✓
Assets
✓
Debt

✓
Creditors
✓
Claims
✓
Collateral
✓
Contracts

✓
Cash
✓
Proceedings
✓
Plan
✓
Distributions

Instead of managing the case through disconnected spreadsheets, documents, and court filings, your team works from a structured intelligence model of the entire restructuring.

Restructuring Intelligence.One Connected View of the Matter.

Every material relationship can become part of the same intelligence layer.

Bring together:

Debtors
Affiliates
Lenders
Bondholders
Trade creditors
Equity holders
Assets
Debt
Liens
Guarantees
Contracts
Leases
Claims
Litigation
Court filings
Restructuring proposals

Understand who is owed what, by whom, and why.

Capital Structure Intelligence.See the Debt Stack.

Understanding the capital structure is fundamental to restructuring.

Paid firstPaid last

Revolving credit facilityFirst lien · receivables and inventory$85M
Term loan BFirst lien · all other assets · matures 2028$420M
Second lien notesSecond lien · 9.5% · matures 2029$150M
Senior unsecured notes7.25% · guaranteed by subsidiaries$300M
Trade and other unsecuredVendors, landlords, litigation claims$95M
Subordinated notesContractually subordinated$40M
EquityCommon stock$30M

Connect each obligation to:

Borrower
Lender
Principal
Priority
Collateral
Guarantee
Agreement
Maturity

Turn the capital structure into something your legal team can interrogate.

Creditor Intelligence.Know Who Is at the Table.

Connect creditors to claims, agreements, collateral, payments, communications, objections, and distributions.

Creditor	Type	Claim	Status
First Harbor Bank (agent)	Secured lender	$505.0M	Allowed
Northpoint Notes Trustee	Bondholders	$300.0M	Filed
Meridian Fuel Supply	Trade creditor	$4.2M	Disputed
Port of Tacoma	Landlord	$2.8M	Cure pending
State tax department	Government	$1.1M	Priority

Create connected profiles for:

Secured lenders
Unsecured creditors
Trade creditors
Landlords
Employees
Government entities
Bondholders
Contract counterparties
Litigation claimants

Understand the creditor—not just the name on the schedule.

Claims Intelligence.Turn the Claims Register Into Actionable Intelligence.

Compare proofs of claim against schedules, contracts, invoices, payment records, and other matter evidence.

Reviewing3

Claim 214 · Northpoint Notes
Bond indenture
Claim 388 · Kessler Tire
Invoices attached
Claim 412 · Former employee
Wage priority

Disputed2

Claim 102 · Meridian Fuel
$600K above our records
Claim 271 · Port of Tacoma
Cure amount contested

Allowed3

Claim 1 · First Harbor Bank
Per DIP order
Claim 56 · State tax department
Priority tax
Claim 93 · Coastal Freight
Agreed amount

Codira ESQ helps organize claims around:

Creditor
Debtor
Claim amount
Claim type
Priority
Security
Supporting documents
Disputed amount
Objections
Resolution
Distribution treatment

Know what is claimed, what supports it, and what remains disputed.

Claims Reconciliation.Find the Differences Before They Become Bigger Problems.

A creditor claims $4.2 million. The debtor’s records show $3.6 million. The underlying contract shows another amount. Payments may not have been credited. Codira ESQ can help attorneys connect and compare those records.

Surface potential:

Duplicate claims
Amount discrepancies
Unsupported claims
Priority questions
Security questions
Entity mismatches
Payment discrepancies
Amended claims

Turn claims reconciliation from spreadsheet work into structured analysis.

Asset Intelligence.Know What the Estate Owns.

Connect each asset to ownership, valuation, liens, documents, transactions, and proposed treatment.

34%22%18%12%

Real estate · 34%Three terminals · sale to stalking horseProposed
Equipment and fleet · 22%412 trucks · sale approvedApproved
Accounts receivable · 18%Collected into the DIP accountCompleted
Inventory · 12%Parts and fuel · ordinary courseCompleted
Intellectual property · 8%Routing software · included in saleProposed
Causes of action · 6%To the litigation trustProposed

Build a structured inventory of:

Cash
Accounts receivable
Real estate
Equipment
Inventory
Investments
Intellectual property
Business interests
Contracts
Causes of action
Digital assets
Other property

See the estate—not merely the schedules.

Lien & Collateral Intelligence.Understand What Secures the Debt.

Codira ESQ helps connect the debt to the collateral behind it.

DebtTerm loan B · $420M
Security AgreementDated Mar 2021 · § 2 grant
CollateralAll assets except ABL priority
LienUCC-1 · Delaware 2021-1184420
DebtorHarborline Logistics, Inc.
LenderFirst Harbor Bank, agent
Supporting RecordsMortgages on 3 terminals

Organize:

Mortgages
Security interests
UCC records
Pledges
Guarantees
Assignments
Priority information
Collateral descriptions
Supporting documents

Follow the secured claim back to the collateral behind it.

Contract & Lease Intelligence.Know Which Agreements Matter to the Restructuring.

Contracts can determine whether a business can continue operating.

Customer contracts
4 open issues · 92% reviewed
Supplier agreements
6 open issues · 80% reviewed
Real estate leases
3 open issues · 100% reviewed
Equipment leases
5 open issues · 74% reviewed
Licenses
2 open issues · 88% reviewed
Employment agreements
1 open issue · 95% reviewed
Technology agreements
2 open issues · 70% reviewed
Joint ventures
No open issues · 100% reviewed

Darker means more open issues.

Surface terms involving:

Termination
Defaults
Assignment
Change of control
Payment
Renewal
Cure
Consent
Other restructuring-related provisions

Understand the agreement before deciding how it fits into the restructuring.

Executory Contract Intelligence.Make Contract Decisions With Context.

For each potentially relevant agreement, connect the terms, the money and the operational stakes.

Terminal lease · Port of Tacoma

Counterparty: Port of Tacoma
Economic value: $9.6M a year in throughput
Payment history: 2 months behind before filing
Defaults: Rent · Feb and Mar
Cure amount: $2.8M claimed · $2.3M by our records
Operational importance: Handles 31% of volume
Assignment: Landlord consent, not unreasonably withheld
Related disputes: Claim 271
Supporting documents: Lease, 2 amendments, ledger
Attorney analysis: In progress

Bring legal terms and business reality into the same decision.

Cash & Transaction Intelligence.Follow the Money.

Connect transactions to entities, counterparties, accounts, agreements, and supporting documents.

Actual cash ($K) DIP budget ($K) Difference for review

Codira ESQ helps organize:

Payments
Transfers
Receipts
Intercompany transactions
Loans
Asset sales
Insider transactions
Creditor payments
Distributions
Supporting financial records

Every important dollar should have a traceable history.

Transaction Investigation.See What Happened Before the Filing.

Prepetition transactions can require detailed factual and legal investigation. Build a timeline and connect each transaction to the underlying documents and parties.

Insider payments

Bonuses · $1.2MOfficer loan repaid

Liens granted

New lien to lender

Asset transfers

40 trucks to affiliate

Creditor payments

Vendor paid in fullLandlord paid

DecJanFebMarAprMay

Petition date · May 20

Organize potentially relevant:

Payments
Transfers
Asset dispositions
Loans
Liens
Insider transactions
Intercompany activity
Debt repayments
Corporate actions

Investigate the transaction without losing its context.

Entity Intelligence.Complex Restructurings Rarely Involve One Company.

Corporate groups may contain dozens or hundreds of legal entities.

Harborline Holdings, Inc.

Parent · guarantor

Senior notes issuer

Harborline Logistics, Inc.

Operating debtor

Term loan borrower

Harborline Fleet LLC

Owns the trucks

Guarantor

Harborline Realty LLC

Owns 3 terminals

Guarantor

Harborline Canada ULC

Non-debtor

Intercompany debt

HL Receivables SPV

Special-purpose entity

ABL collateral

Codira ESQ helps map:

Parent companies
Subsidiaries
Operating entities
Holding companies
Special-purpose entities
Joint ventures
Intercompany ownership
Intercompany debt
Guarantees
Shared assets

See where the debt sits, where the assets sit, and how the entities connect.

Intercompany Intelligence.Understand What’s Happening Inside the Corporate Group.

Codira ESQ can connect the internal financial relationships of the group.

Make the internal financial relationships visible.

Court & Docket Intelligence.Connect Court Activity to the Business Problem Behind It.

Instead of treating court filings as isolated documents, connect them to the creditors, assets, contracts, claims, and issues they affect.

May

Petition
First-day hearing

Jun

Interim DIP order
Schedules

Jul

Final DIP order
Bar date

Aug

Sale procedures

Sep

Claim objections
Sale hearing

Oct

Disclosure statement

Filings Hearings Orders

Organize:

Petitions
Schedules
Statements
Motions
Objections
Orders
Hearings
Notices
Claims
Adversary proceedings
Deadlines

Turn the docket into case intelligence.

Deadline Intelligence.Bankruptcy Moves Fast.

Connect every deadline to the matter, filing, order, or requirement behind it.

Oct 6Objection deadline · cure noticesSale procedures order ¶ 145 days
Oct 15DIP milestone · disclosure statement filedFinal DIP order § 6.214 days
Nov 3Voting deadlineDisclosure statement order33 days
Nov 17Confirmation hearingScheduling order47 days

Deadlines involving:

Filings
Hearings
Claims
Objections
Schedules
Notices
Contract matters
Plan milestones
Disclosure materials
Voting
Closing requirements

Know what’s due—and why.

DIP Financing Intelligence.Understand the Financing That Keeps the Business Moving.

Track the covenants and milestones that come with debtor-in-possession financing.

Budget variance · cumulativeProposed 11% · allowed 15% · within
Professional fees vs carve-out ($M)Proposed 9.2 · allowed 8 · over
Capital spending vs cap ($M)Proposed 3.1 · allowed 5 · within

Connect DIP financing to:

Lenders
Facilities
Borrowing limits
Collateral
Priority
Covenants
Milestones
Budgets
Reporting
Orders
Fees
Events of default

See the financing terms alongside the restructuring obligations they create.

Restructuring Milestone Intelligence.Know What Has to Happen Next.

Connect each milestone to its documents, responsible parties, conditions, and dependencies.

✓FinancingFinal DIP order · Jul 2
✓Asset salesFleet sale approved
•NegotiationsCommittee settlement
Court approvals
Disclosure
Voting
Plan confirmation
Effective date
Closing
Post-emergence obligations

Turn the restructuring timeline into an actionable system.

Plan Intelligence.Understand How the Proposed Restructuring Treats Everyone.

Make it easier for the legal team to trace proposed treatment back to the affected parties and claims.

Distributable value · $646M

Administrative & priority · $12M allowed100% · Cash
Class 1 · Revolver · $85M allowed100% · Cash
Class 2 · Term loan B · $420M allowed100% · New term loan
Value runs short from here
Class 3 · Second lien notes · $150M allowed70% · New equity
Class 4 · General unsecured · $395M allowed6% · Litigation trust
Class 5 · Equity 0% · Cancelled

Connect the plan to:

Classes
Claims
Creditors
Equity
Treatment
Recoveries
Voting
Distributions
New securities
Governance
Conditions
Supporting documents

See the plan as a connected restructuring model.

Distribution Intelligence.Follow Value Through the Plan.

Connect distributions back to the claim and plan provisions supporting them.

Codira ESQ can help organize:

Allowed claims
Classes
Recovery terms
Cash distributions
New debt
New equity
Trust interests
Reserves
Settlement treatment
Distribution status

Know who receives what—and what created the entitlement.

Recovery Scenario Intelligence.Understand the Structure Behind the Numbers.

Restructuring professionals frequently need to evaluate different assumptions and proposed treatments. The assumptions remain visible alongside the resulting analysis.

465 $M

RevolverTerm loan

Low value

634 $M

RevolverTerm loanSecond lien

Base case

750 $M

RevolverTerm loanSecond lienUnsecured

High value

Organize scenarios around:

Enterprise assumptions
Debt
Claim classes
Priority
Collateral
Plan treatment
Recoveries
Dilution
Distributions

Keep the model connected to the legal structure behind it.

Asset Sale Intelligence.Manage the Transaction Inside the Restructuring.

Because Codira ESQ includes Transactions & M&A, the transaction can operate within the same intelligence platform as the bankruptcy matter.

42potential buyers contacted
18signed NDAs
6indications of interest
3qualified bids
1stalking-horse bidder

Connect:

Assets
Bidders
Offers
Purchase agreements
Due diligence
Contracts
Liens
Objections
Approvals
Closing conditions
Sale documents

The restructuring and the transaction shouldn’t live in separate worlds.

Restructuring Negotiation Intelligence.Preserve the History of the Deal.

Codira ESQ helps organize proposals, term sheets, draft agreements, issues, and negotiated changes among debtors, lenders, committees, equity holders, investors and buyers.

Plan term sheet § 4 · Class 4 treatment · committee’s markup

Holders of general unsecured claims receive their pro rata share of $15 million in cash interests in a litigation trust funded with $5 million and the estate’s causes of action.

Also changes:Class 4 recoveryTrust agreementVoting

Know what changed, who requested it, and what remains unresolved.

Bankruptcy Litigation.When the Restructuring Becomes a Dispute, Keep the Intelligence.

Bankruptcy matters can generate claim objections, avoidance actions, fraudulent-transfer and preference disputes, lien and contract disputes, adversary proceedings and contested matters. Because Bankruptcy & Restructuring operates on the same Codira ESQ platform, those disputes can connect directly with Codira ESQ Litigation.

Don’t rebuild the matter when restructuring becomes litigation.

Ask the Entire Restructuring.Get Answers Across the Case.

Ask questions such as:

What debt is secured by this property?
Which creditors have filed claims above $1 million?
Show differences between this proof of claim and the debtor’s records.
Which contracts contain assignment restrictions?
What payments were made to this creditor before filing?
Which entities guarantee this loan?
Which claims remain disputed?
What obligations must be completed before the next restructuring milestone?

Codira ESQ helps locate relevant information and connects answers to the underlying source material.

Ask the restructuring—not the spreadsheet.

AI With Legal Guardrails.Speed Without Losing Professional Judgment.

Bankruptcy combines law, finance, negotiation, valuation, and litigation. Codira ESQ combines specialized AI workflows with structured matter context, source grounding, deterministic controls, verification, and attorney review.

AI organizes the complexity
Extract, organize, reconcile, compare, connect, search, summarize, draft
Issues surface for review
Every finding tied to its source
Professionals decide
Significance, valuation, strategy, action

AI organizes the complexity. Professionals make the restructuring decisions.

What Changes With Codira ESQ?From Spreadsheets to a Connected Restructuring.

Without Codira ESQ

Debt lives in spreadsheets.
Claims live on the register.
Assets live in schedules.
Contracts live in the data room.
Transactions live in financial records.
Deadlines live on calendars.
Court activity lives on the docket.
Restructuring models live separately from the legal record.

With Codira ESQ

Debt connects to lenders and collateral.
Claims connect to creditors and supporting evidence.
Assets connect to ownership and liens.
Contracts connect to restructuring decisions.
Transactions connect to parties and source records.
Court filings connect to the issues they affect.
Plan treatment connects to claims and stakeholders.

Bankruptcy Is Complex Because Everything Is Connected.Codira ESQ Connects It.

The creditor connects to the claim. The claim connects to the debt. The debt connects to the collateral. The collateral connects to the asset. The contract connects to the operation. The transaction connects to the money. The court order connects to what happens next.

Codira ESQ brings those relationships together.

Know the capital structure. Understand the claims. Follow the money. Control the restructuring.

Explore Codira ESQ Bankruptcy & Restructuring Request a Demo