More than 350 subscribers pay from $50,000 to $150,000 a year (depending on factors including an organization’s size) to learn what the lawyers, financial analysts and reporters in Reorg’s Manhattan, London and San Juan outposts turn up online or by working the phones. Some publicly traded high-yield debt funds subscribe, as do law firms and most of the distressed-debt “vulture” hedge funds that play a growing role in bankruptcy battles. (Hedge funds already own an estimated third of Puerto Rico’s debt, according to Height Securities.) For their money, Reorg subscribers get access to thousands of court and SEC documents, as well as e-mail alerts when crucial new documents are posted, followed by expert analysis of their significance.

http://www.forbes.com/sites/danielfisher/2016/06/01/in-or-out-of-bankrtuptcy-reorg-is-watching/#153c94ae20c7