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
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
Bus Carrier Coach USA Goes Bankrupt After Ridership Drops | Bloomberg -
Bus carrier and owner of the Megabus brand and commuter bus lines connecting New York and New Jersey, Coach USA filed for Chapter 11 bankruptcy in...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
Ex-FTX Executive Salame Sentenced to 7.5 Years in Prison | Reuters -
Former co-CEO of bankrupt cryptocurrency exchange FTX’s Bahamian subsidiary has been sentenced to 90 months in prison after pleading guilty in September...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
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
Express files for bankruptcy; closing more than 100 stores | CNN -
Fashion retailer Express Inc. has officially filed for bankruptcy with the bankruptcy court in Delaware. In a release on Monday, the company said it also...more
Retailer 99 Cents Only Files for Bankruptcy, Plans to Shut Down | Reuters -
Budget retailer 99 Cents Only filed for Chapter 11 bankruptcy protection in Wilmington, Delaware, and stated that it plans to shut down all of its...more
4/15/2024
/ Appeals ,
Catholic Diocese ,
Chapter 11 ,
Commercial Bankruptcy ,
Convictions ,
Crypto Exchanges ,
Debtors ,
Fraud ,
Liquidation ,
Price Inflation ,
Sexual Abuse
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
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
Rite Aid, bracing for bankruptcy, will close hundreds of stores | SuperMarket News -
As it prepares to file for bankruptcy, Rite Aid is gearing up to close as many as 500 of its 2,100 stores. The Philadelphia-based...more