Maverick Gaming, which owns 5 Nevada casinos, files for bankruptcy | The Nevada Independent -
The Washington-based casino and card-room operator filed for Chapter 11 bankruptcy in the Southern District of Texas on Monday....more
Regeneron declines to make higher bid for 23andMe after Wojcicki's $305 million offer | Reuters -
23andMe founder Anne Wojcicki’s bid, submitted through a nonprofit she controls, remains unchallenged, setting her up to...more
Implant maker Exactech may conclude bankruptcy without TPG settlement | Reuters -
Medical implant maker Exactech adjourned its Chapter 11 plan confirmation hearing on Wednesday, delaying proceedings that would have...more
Li-Cycle files for bankruptcy, seeks protection for facilities in Greece | WXXI News -
Li-Cycle filed a chapter 15 in the Southern District of New York on Wednesday to support its Canadian CCAA proceeding. The...more
Publishers Clearing House files for bankruptcy | Law360 -
Publishers Clearing House filed for Chapter 11 bankruptcy and plans to reorganize its capital structure and improve its long-term growth trajectory....more
23andMe files for bankruptcy, Anne Wojcicki steps down as CEO | CNBC -
Genetic testing company 23andMe filed for Chapter 11 bankruptcy protection in Missouri federal court. Anne Wojcicki, co-founder and CEO, has resigned...more
3/31/2025
/ Agribusiness ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Data Breach ,
Debtors ,
Debtors-in-Possession ,
Genetic Testing ,
Personally Identifiable Information ,
Special Purpose Acquisition Companies (SPACs) ,
Technology Sector ,
Unsecured Debt
Dolan’s MSG Networks nears bankruptcy as cord-cutting surges | Front Office Sports -
MSG Networks, the Dolan-controlled regional sports networks, face imminent bankruptcy because of $804 million in debt that is currently...more
3/10/2025
/ Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debt Restructuring ,
Debtors ,
Healthcare ,
Insurance Industry ,
Johnson & Johnson ,
Reorganizations ,
Sports
Purdue's new Ch. 11 plan sidesteps nonconsensual releases | Law360 -
Mediators in the Purdue Pharma bankruptcy case reported that the revised settlement no longer includes nonconsensual third-party releases....more
3/3/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Insolvency ,
Liquidation ,
Mediation ,
Settlement ,
Settlement Agreements
Forever 21 plans nearly 200 store closures in second bankruptcy, Bloomberg News reports | Reuters -
The U.S.-based operator of clothing retail chain Forever 21 is planning to shut down at least 200 additional locations as...more
2/24/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Class Action ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Cryptocurrency ,
Debt Restructuring ,
Johnson & Johnson ,
Liquidation ,
Settlement
Spirit Airlines rejects Frontier's bid, aims to exit bankruptcy in first quarter | Reuters -
On Wednesday, low-cost carrier Spirit Airlines denied a bid of about $2.16 billion from rival Frontier Group as it was not...more
2/3/2025
/ Acquisitions ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Mergers ,
WARN Act
Purdue Pharma and owners to pay $7.4 billion in settlement of lawsuits over the toll of OxyContin -
On Thursday, Purdue Pharma and members of the Sackler family who own the company agreed to pay up to $7.4 billion to...more
1/27/2025
/ Bankruptcy Court ,
Commercial Bankruptcy ,
Consent ,
Corporate Governance ,
Corporate Misconduct ,
Creditors ,
Debtors ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FDIC ,
Fiduciary Duty ,
Gross Negligence ,
Opioid ,
Settlement
On December 31, 2024, the Fifth Circuit Court of Appeals overturned the Bankruptcy Court for the Southern District of Texas’ (the “Bankruptcy Court”) decision that the exchange by certain lenders of Serta Simmons Bedding, LLC...more
1/24/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Credit Agreements ,
Creditors ,
Debt Restructuring ,
Debtors ,
Lenders ,
Loans ,
Reorganizations ,
Reversal
Purdue's Sackler family offers to increase contribution in new opioid settlement, WSJ reports | Reuters -
The Sackler family, owners of Purdue Pharma, is offering to increase their contribution to the opioid lawsuit...more
1/20/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Debtors ,
Liquidation ,
Mediation ,
Settlement ,
Stays
Spirit Airlines continues 'constructive talks' with creditors | Reuters -
On Tuesday, ultra-low-cost carrier Spirit Airlines announced it’s in constructive talks with its creditors and will continue to seek strategic...more
FTX Dotcom creditors vote massively in favor of reorganizing plan | Coindesk -
Creditor approval has been secured for a reorganization plan of the former crypto exchange, FTX. The plan is set to be presented to the...more
Bankruptcy court clarifies Yellow Corp. owes pensions | WSJ -
A Del. bankruptcy court stated Yellow Corp. is liable for some portion of the $6.5 billion in withdrawal liability claims, but the exact amount to be paid is...more
US Senate bill aims to curb Texas Two-Step bankruptcies | Reuters -
On Tuesday, U.S. Senators introduced a bipartisan bill intended to discourage the Texas Two-Step. The bill aims to deter financially healthy companies...more
Below is our initial take on recent bankruptcy-related developments:
Yellow’s Shareholders Get Desired Ruling in Delaware Bankruptcy Court -
On Monday, a Delaware bankruptcy court granted Yellow Corp. a 90-day...more
Red Lobster Files for Bankruptcy, but Restaurants Will Stay Open | NBC News -
The largest seafood chain in the U.S. Red Lobster has filed for voluntary bankruptcy in Florida, but it plans to keep its restaurants open. The...more
Collapsed FTX says it can pay most creditors back in full | CNN Business -
On Tuesday, collapsed cryptocurrency exchange FTX unveiled its reorganization plan and stated it has recovered adequate funds to pay the majority...more
BowFlex Files For Bankruptcy | CNN -
On Tuesday, at-home exercise equipment company BowFlex filed for Chapter 11 protection. BowFlex stated that Taiwan-based company Johnson Health Tech will act as stalking horse in a...more
FTX Files Reorganization Plan to End Bankruptcy, Repay Creditors| CoinDesk -
On Saturday, the collapsed crypto exchange FTX submitted a reorganization plan which included plans to repay up to 90 percent of creditors’...more
Endo creditors seek to resolve U.S. government claims for $465 mln| Reuters -
According to court documents filed last week, Endo and a group of the company’s lenders are offering up to $465 million to settle U.S. government...more
12/4/2023
/ Bitcoin Mining ,
Blockchain ,
Bondholders ,
Catholic Diocese ,
Creditors ,
Dismissals ,
Involuntary Bankruptcy ,
Lenders ,
Opioid ,
Restructuring ,
Settlement ,
Sexual Abuse
WeWork plans bankruptcy filing as soon as next week, report says, in startling reversal from its heady days as a tech industry superstar| Fortune -
The Wall Street Journal reported on Tuesday that WeWork plans to file for...more
Bed Bath & Beyond is closing 149 more stores | CNN -
Bed Bath & Beyond has expanded its list of additional stores they expect to close, from 87 to 149. In total the company is reducing its store count from 760 to about...more