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
5th Circuit rejects Serta Simmons' controversial 2020 debt deal | Reuters -
The 5th U.S. Circuit Court of Appeals ruled Tuesday that mattress maker Serta Simmons did not treat its lenders equally in a controversial 2020...more
US Trustee Wants To Pump Brakes On Spirit Airlines Ch. 11 | Law360 -
The U.S. Trustee has objected to Spirit Airlines' rapid bankruptcy proceedings, arguing that the case is too complex for a rushed timeline. The trustee...more
Vodka maker Stoli Group USA files for chapter 11 bankruptcy | CBS News -
Stoli Group’s US-based distributor unit filed for bankruptcy protection this week in the Northern District of Texas....more
Intrum files for bankruptcy in US to restructure $4.5 billion debt pile | Reuters -
Europe’s largest debt collector Intrum filed for Chapter 11 bankruptcy in the U.S. to restructure its debt after struggling with the...more
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 creditors will make money on bankruptcy: $1.19 for every dollar | CNBC -
Delaware bankruptcy Judge John Dorsey approved failed cryptocurrency exchange FTX’s reorganization plan which involves paying over $14 billion to...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
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
Hertz Noteholders Land Win in Bankruptcy Interest Payoff Fight | Bloomberg Law -
On Tuesday, an appeals court ruled that car rental company the Hertz Corp, which emerged from bankruptcy in 2021, must pay over $270 million...more
9/16/2024
/ Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Denial of Certiorari ,
Fees ,
Interest Rates ,
Post-Bankruptcy Covenants ,
Private Equity Firms ,
Purdue Pharma ,
SCOTUS ,
Uniform Commercial Code (UCC)
Residential Solar Firm Lumio Files Bankruptcy, Plans to Sell | Bloomberg -
Privately owned provider of residential solar panels Lumio filed for Chapter 11 bankruptcy on Tuesday in Delaware with plans to sell its company to...more
Big Lots bankruptcy reports send shares tumbling to record lows for Columbus retailer | The Columbus Dispatch -
Home goods retail chain Big Lots Inc. is considering filing for bankruptcy after years of decreased sales. The...more
Celsius pushes back on FTX customer payback plan | Bloomberg Law -
The Celsius administrator and liquidators of Three Arrows Capital objected to FTX's Chapter 11 plan, arguing it aims to compensate people who had accounts...more
Blink Fitness files for Chapter 11 bankruptcy | Bloomberg -
Blink Fitness, a gym chain owned by Equinox, filed for Chapter 11 bankruptcy protection in Delaware, citing assets and liabilities each ranging from $100 million...more
Restaurant chain Buca di Beppo files for bankruptcy | Reuters The Italian restaurant chain filed for Chapter 11 bankruptcy, citing assets between $0 to $50,000 and debts of $15 million to $50 million to at least 30 creditors....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
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