AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains original content developed by AGG’s Bankruptcy, Creditors’ Rights, & Financial Restructuring attorneys.
Industry News
Market Chatter: Wolfspeed Nears Bankruptcy Filing After Failing to Restructure Debt; Shares Fall Pre-Bell
May 21, 2025 (Yahoo! Finance)
A Wall Street Journal article citing sources with knowledge of the situation claims that Wolfspeed, Inc. (NYSE:WOLF) is getting ready to declare Chapter 11 bankruptcy in the upcoming weeks. After turning down several out-of-court restructuring proposals, the semiconductor manufacturer is moving forward with a court-supervised process backed by the majority of its creditors.
Cancer woes could force huge company into Chapter 11 bankruptcy
May 20, 2025 (MSN.com)
In the business world, it’s all about the right strategy. Two closely connected tools for growth are corporate strategy and M&A strategy.
Popular gun ammunition dealer files for Chapter 11 bankruptcy
May 20, 2025 (MSN.com)
The firearms industry in the last two years has faced all of the same economic challenges that other industries have endured, including inflation, high interest rates, and reduced consumer spending. Guns and ammo makers still await any effects that new tariffs will have on the industry.
GOL Receives U.S. Court Approval for Plan of Reorganization
May 20, 2025 (Associated Press)
GOL Linhas Aéreas Inteligentes S.A. (B3: GOLL4) (“Company” or “GOL”), one of the leading airlines in Brazil, today announced that the U.S. Bankruptcy Court has decided to confirm GOL’s Chapter 11 Plan of Reorganization (the “Plan”). With confirmation secured, GOL remains on track to emerge from its restructuring process in early June 2025.
JCPenney closing down 7 stores ahead of Memorial Day: Reports
May 20, 2025 (MSN.com)
JCPenney announced on Tuesday it will be closing seven stores across the U.S. this weekend, a report said. The latest closures are occurring after more than 200 U.S. locations shuttered after the department store filed for Chapter 11 bankruptcy protection in May 2020.
Regeneron is buying 23andMe out of bankruptcy for $256 million
May 19, 2025 (Fortune)
Biotechnology company Regeneron Pharmaceuticals is buying 23andMe for $256 million, two months after the genetic testing company filed for Chapter 11 bankruptcy protection.
Binance wants the $1.76B FTX lawsuit dismissed, blames SBF for collapse
May 20, 2025 (MSN.com)
Binance has filed a motion in Delaware Bankruptcy Court to dismiss a lawsuit brought by the estate of FTX Trading Ltd., which seeks to recover $1.76 billion related to a 2021 share buyback deal. The crypto exchange contends that the estate is attempting to redirect blame for its collapse from the criminal misconduct of founder Sam Bankman-Fried.
