Kevin Eckhardt

Senior Legal Analyst and Editor at Octus. Opinions all mine and not those of my gracious employer.

[Kevin Eckhardt @DasWreck]

@Crowhurst68 If everyone in the market understood how these cases tend to work, then nobody would need to subscribe to @OctusCredit

[Kevin Eckhardt @DasWreck]

@Crowhurst68 The pricing of the shares is not relevant to the bankruptcy analysis. Lots of shares trade higher than what the holders will get in ch 11, even when it is obviously nothing from day one

[Kevin Eckhardt @DasWreck]

If anyone wants to know exactly how dumb some bankruptcy judges are, pls check out Judge Cristol’s idiotic “masters thesis” on this

[Thomas Massie @RepThomasMassie]

On June 8, 2026, I’ll speak on the floor of the House to honor and memorialize the brave crew of the 🇺🇸 USS Liberty who died and were wounded in an unprovoked attack by 🇮🇱 Israel on June 8, 1967. Catch my speech on @cspan.

[Oh Come On! @BluthCapital]

British economist John Kay:
“The critic who exposes a fake Rembrandt does the world no favor: The owner of the picture suffers a loss, as perhaps do potential viewers, and the owners of genuine Rembrandts gain little.”

...why short sellers are vilified?

[Kevin Eckhardt @DasWreck]

Paramount on consumer WBD merger antitrust suit: a "clumsy attempt to politicize antitrust litigation, untethered to any established antitrust principles." How dare they POLITICIZE this transaction that got gov't antitrust OK solely bc of Paramount's politics

[Kevin Eckhardt @DasWreck]

The “independent” directors hired by KE explaining why their whitewash report concluding the prepetition LME was perfectly fine still ain’t finished one week before confirmation

[Ramona Shelburne @ramonashelburne]

Adam Silver says he’s “wouldn’t be doing my job” if he issued a decision “based on perception.” He says he needs to wait for the facts from the investigation into the Clippers dealings with Aspiration. There’s no timeline on when that report will conclude but “we’re close to the point where we need to wrap this up.”

[Steve Giordano @SteveNomadic]

I’ve been saying this for a while, but here’s the simple truth:

In 2026 a PW1100G-JM (GTF engine) leases for 200-290K/Month (I’m told average is about 240K)

An A320NEO with 2 GTFs installed leases for about 300-330K/Month.

Easy math!! Wild times.

[Kevin Eckhardt @DasWreck]

@BluthCapital Citizens’ tolerance for pain is an underrated national resource. As my Russian ex-wife used to say, the American dream is a house, two cars and kids in college; the Russian dream is you’re third in line and there’s a light drizzle

[Kevin Eckhardt @DasWreck]

@BluthCapital This is why we can’t have populism

[Kevin Eckhardt @DasWreck]

@DutchmanCapital @lolviolence @OctusCredit Well that’s fuckin’ unthinkable

[Kevin Eckhardt @DasWreck]

@OctusCredit has adopted a similar mandate, with a broader set of models (pretty much whatever you desire). Yes, I asked if I could disclose this, and no, I won’t tell you what I think of it. Interested in how y’all feel tho

[High Yield Harry @HighyieldHarry]

Got a scoop from a Wells Fargo employee that effective May 1, if you dont use CoPilot at least 3 days/week, your manager will receive an escalation email that you aren’t using AI/CoPilot.

And so it begins.

[Kevin Eckhardt @DasWreck]

@HighyieldHarry @the_P_God PepperPikanda Forever

[Scott MacFarlane @MacFarlaneNews]

It’s wild to see the Director of National Intelligence post being announced as some form of side-hustle

[Pablo Torre 👀 @PabloTorre]

🚨 BREAKING: Aspiration co-founder Joe Sanberg has just been sentenced to 14 years in federal prison, following a DOJ investigation that started with two whistleblowers from inside the carbon-credits company/Clippers team sponsor in 2023.

[Kevin Eckhardt @DasWreck]

@AyyouEm @petition Best part: filing 18 months after an LME with 40% ready to litigate over it and CALLING THE CASE PREPACKAGED

[JV @AyyouEm]

@petition Lenders: "Just file"
Debtors: "No too expensive. This LME with a 100m backstop fee to the new money lenders will solve the problem"
> Files 18 months later
> Recoveries worse
> RX fees astronomical
> Litigation ensues

Great work guys can't wait for season 2

[Kevin Eckhardt @DasWreck]

@NancyRapoport @petition “We are particularly concerned with the shift of the reorganization bar from standards of professional service to those of pecuniary gain” - Justice Douglas, in 19-goddamn-37

[Kevin Eckhardt @DasWreck]

"because the Debtors are no longer generating revenue from operations, administrative creditors have only a limited pool of funds from which to recover. It cannot be countenanced that only the Debtor’s professionals would be made whole. Accordingly, because the Debtor’s Motion does not describe how the Debtors will compensate the Employees in the event of administrative insolvency, the Debtors’ administrative creditors (including the Debtors’ retained professionals), should not be entitled to collect fees until such time as the Court is assured that all administrative creditors will be equally compensated in the event of administrative insolvency"

[Kevin Eckhardt @DasWreck]

Spirit employees unsurprisingly object to admin claims motion. Here's the fight: "the Debtors represent that the goal of their Motion is to make sure that all Administrative Creditors are treated alike. However, the Motion fails to mention anything about how all of the Professionals in this case can continue to be paid as administrative creditors and deplete the finite assets of the Debtors’ estate, before they have any idea of the size of the administrative creditor universe"

[Kevin Eckhardt @DasWreck]

"It is understandable that the Debtors requested that their professionals be paid monthly when they believed the Debtors would continue their operations. Now that it is clear that the Debtors will be winding down and not collecting revenue from operations, allowing professionals to collect their fees monthly amounts to disparate treatment between administrative creditors. This disparate treatment is structurally unfair and legally prohibited"