Restructuring Data Room for Investment Banks

Restructuring is the most complex financial process

Restructuring and special situations work is fundamentally different from standard M&A. The stakeholder universe is larger and more diverse — debtors, secured creditors, unsecured creditors, official committees, equity holders, regulators, courts. Information is asymmetric by design, with different parties entitled to different levels of disclosure.

SpaceNexus gives restructuring teams a purpose-built platform for managing the information flows, information barriers, and court-admissible documentation that restructuring demands.

Chapter 11 workflow support

SpaceNexus supports the full Chapter 11 process:

• Pre-petition planning — confidential due diligence for prospective DIP lenders and acquirers
• First-day motions — DIP financing, cash management, critical vendor payments
• Operating during Chapter 11 — rolling 13-week cash flow forecasts, weekly reporting to creditors' committee and DIP lenders
• Plan and disclosure statement — preparation, negotiation, and creditor voting
• Plan confirmation and emergence — emergence financing, asset sales, and post-emergence reporting

Multi-creditor access management

Restructuring requires precise access control across creditor classes:

• Secured creditors see collateral packages, perfection documentation, and priority analysis
• Unsecured creditors see general unsecured recovery analysis and pro rata calculations
• Official creditors' committee has broader access with their own advisors
• DIP lenders see financing-specific materials, cash flow forecasts, and budget reports
• Prospective acquirers see 363 sale materials with tiered access
• Equity holders see equity recovery analysis and plan voting materials

Each group is isolated from the others, with the audit trail recording all access for creditor and court review.

Information barriers across deal teams

Restructuring creates unique information barrier challenges. Banks may advise:

• The debtor (as restructuring advisor)
• The creditors' committee (separate mandate)
• Secured creditors (as lender advisor)
• Prospective acquirers (as M&A advisor)
• The DIP lender (as financing advisor)

SpaceNexus information barriers (Chinese walls) prevent cross-team access, with technical controls and audit trails supporting regulatory compliance and firm conflict policies.

Section 363 asset sales

363 sales in bankruptcy require court approval and often involve competitive bidding. SpaceNexus supports:

• Stalking horse review — confidential diligence for the initial bidder
• Bid procedures — qualified bidder designations, deposit requirements, and bid forms
• Auction coordination — round-by-round bid tracking with deadline management
• Court filing packages — sale motion, asset purchase agreement, and supporting declarations
• Closing mechanics — wire instructions, document execution, and post-closing transition

Court-admissible documentation

Restructuring frequently involves court proceedings — DIP hearings, plan confirmation, 363 sale approvals, and adversary proceedings. The data room audit trail provides:

• Immutable records of all creditor access and communications
• Documentation of disclosure adequacy for plan confirmation
• Evidence of compliance with bidding procedures for 363 sales
• Records supporting fee applications and interim compensation