Podcast
Kawhi Leonard in Bankruptcy Court, Spirit on the Brink, and Disqualified Counsel Provisions
In episode 15 on The Octus Download, we dive into the biggest sports scandals, explore major airline restructuring, and unpack the latest innovations in credit designed with sponsors in mind.
The Kawhi Leonard Bankruptcy Bombshell
Los Angeles. What started as investigative journalism has exploded into the biggest sports bankruptcy story in memory. NBA superstar Kawhi Leonard allegedly received $28 million through a suspicious endorsement deal with Aspiration Partners, a tree-planting startup that filed for bankruptcy as CTN Holdings. The contract required virtually no work from Leonard while tying his compensation to his employment with the LA Clippers—whose owner Steve Ballmer was a major Aspiration investor.
Spirit Airlines’ Second Act
The conversation moves to Spirit Airlines’ return to Chapter 11 court just six months after emerging from its first bankruptcy. Aircraft lessor AerCap terminated 36 future Airbus deliveries and issued default notices on 37 current fleet leases, forcing the ultra low cost carrier to seek protection again. Recent data shows revenue per passenger dropped 9% year-over-year while operating cash burn nearly tripled, highlighting persistent operational challenges the first restructuring failed to address.
Credit Market Innovation and Cultural Commentary
Wrapping up with liability management insights from Octus expert Julian Boulou on disqualified counsel provisions—the latest sponsor tool to control lender-side representation. The discussion then shifts to Netflix’s “Hunting Wives,” a suburban Texas drama that raises questions about political scandal tolerance in the modern era.
Listen & Subscribe
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Produced and edited by two-time Emmy Award-winning producer Tanya Hubbard.
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