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
Purdue Pharma files new bankruptcy plan for $7.4 billion opioid settlement | CNN -
Purdue Pharma filed another chapter 11 reorganization plan aiming to implement $7.4 billion in opioid settlements....more
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
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
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
US court reluctant to blow up Boy Scouts’ $2.46 billion sex abuse settlement | Reuters -
On Wednesday, a three-judge panel of the Third Circuit Court of Appeals in Philadelphia considered whether to overturn the Boy Scouts...more
Tupperware cancels auction, agrees to lender takeover | Reuters -
On Tuesday, bankrupt Tupperware Brands concurred to sell its company for $23.5 million in and over $63 million in debt relief to a group of lenders,...more
True Value files bankruptcy with a bid to sell to a hardware rival | CNN -
On Monday, 75-year-old hardware store brand True Value filed for bankruptcy and plans to sell its entire operations to rival company Do it Best,...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
J&J talc opponents decry bankruptcy as "deja vu all over again" | Reuters -
Johnson & Johnson's latest bankruptcy attempt faced immediate opposition from cancer victims' attorneys. They argued that the bankruptcy was a...more
9/30/2024
/ Bankruptcy Court ,
Commercial Bankruptcy ,
Debtors ,
Disciplinary Proceedings ,
Duty to Disclose ,
Ethics ,
Johnson & Johnson ,
Lenders ,
Motion to Dismiss ,
Purdue Pharma ,
SCOTUS ,
Settlement
FTX and CFTC agree to $12.7 billion settlement following months of negotiations | The Block -
FTX and the CFTC struck a deal granting the CFTC $4 billion disgorgement claim and an $8.7 billion restitution claim. Payments...more
Purdue Pharma secures litigation ceasefire after US Supreme Court ruling | Reuters -
On Tuesday, U.S. Bankruptcy Judge Sean Lane granted Purdue Pharma court approval for a 60-day freeze on lawsuits against the Sackler...more
Supreme Court Blocks Purdue Pharma Opioid Settlement, Threatening Billions Of Dollars For Victims | NBC News -
On Thursday, the Supreme Court rejected the nonconsensual non-debtor releases in the Purdue Pharma plan,...more
J&J Offers $6.5 Billion for Talc Lawsuits Ahead of Third Bankruptcy Filing | WSJ -
Healthcare giant Johnson & Johnson has offered a settlement pool of nearly $6.5 billion to resolve tens of thousands of talc-related...more
Sam Bankman-Fried Sentenced to 25 Years in Prison | CoinDesk -
FTX founder and former CEO Sam Bankman-Fried has been sentenced to 25 years in prison after being convicted on seven fraud and conspiracy charges. According to...more
Latham, Jackson Walker Avoid Sanctions Over Bankruptcy Forum Shopping Dispute | Reuters -
In a court hearing on Monday, U.S. Bankruptcy Judge Christopher Lopez in Houston ruled that law firms Latham & Watkins and Jackson...more
US Supreme Court Lets $2.46 Billion Boy Scouts Sex Abuse Settlement Proceed | Reuters -
On Thursday, the U.S. Supreme Court permitted the Boy Scouts of America’s $2.46 billion settlement with sexual abuse victims to...more
Genetic test maker Invitae files for bankruptcy protection in US | Reuters -
On Tuesday, Invitae, the San Francisco-based genetic test maker, filed for voluntary Chapter 11 bankruptcy protection in a U.S. bankruptcy court...more
Terraform Labs declares bankruptcy in Delaware | CoinDesk -
Terraform Labs Pte., the embattled Singapore crypto firm, has filed for a voluntary petition in Delaware for Chapter 11 bankruptcy. Terraform’s bankruptcy comes...more
Celsius files intent to claw back certain pre-bankruptcy withdrawals| CoinTelegraph -
On January 9, Celsius bankruptcy administrators notified creditors that account holders who took out more than $100,000 in the 90 days...more
US Supreme Court torn over Purdue bankruptcy suit| Reuters -
On Monday, U.S. Supreme Court justices grappled with whether to affirm OxyContin producer Purdue Pharma’s bankruptcy plan.
S&K Take: Really couldn’t lead...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
Bankruptcy court refuses to dismiss marijuana industry debtor Chapter 11 case| Reuters -
The U.S. Bankruptcy Court for the Central District of California has refused a motion to dismiss the Chapter 11 Bankruptcy case for...more
10/16/2023
/ Attorney's Fees ,
Bankruptcy Court ,
Bankruptcy Plans ,
Chapter 11 ,
Controlled Substances Act ,
Cryptocurrency ,
Marijuana Related Businesses ,
Mediation ,
Opioid ,
Restructuring ,
Settlement