BankruptcyData’s Plan Recovery Report: 1H23

This report tracks U.S. Chapter 11 bankruptcy case plans filed, confirmed or emerged in 1H23.

The report is sourced from court documents including Chapter 11 plans, disclosure statements, and associated documents in the *priority  U.S. Bankruptcy cases covered in BankruptcyData.


On average the recovery rate for the first lien debt was 68% and 58% of that tranche received cash or take-back paper as recovery.

The average recovery rate for second lien debt was 50%, with about a third of their recovery consideration in cash.

Unsecured funded debt’s average recovery rate averaged 35%, while the GUC’s recovery rate averaged slightly higher at 48%.

Also, more than 25% of equity classes received recoveries in 1H23. 45 plans issued new equity (see page 13) and 30 formed liquidating trusts. 

Data supporting this report can be viewed on the BankruptcyData platform.  Interested subscribers should navigate to specific Bankruptcy Case pages and look in the new Restructuring Plans section (eg, this example for the Quotient Limited case, made effective Feb. 16, 2023), or searched across cases through the new Instrument Directory and Plan Directory on 

Those who are not subscribers  can get a copy of the report, but to dig into the data, they will need to request trial access.

Fill in the form to the right, and receive your free copy.