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
Fabrics Retailer Jo-Ann Files for Bankruptcy | CNN Business -
Ohio-based fabric and craft retailer Jo-Ann has filed for Chapter 11 bankruptcy protection and has secured $132 million in new funding. The prepack bankruptcy...more
Company's PO Box Allows it to File for Bankruptcy in Texas, Judge Rules | Reuters -
On Monday, U.S. Bankruptcy Judge Christopher Lopez in Houston, Texas, ruled that pharmaceutical company Sorrento Therapeutics may continue...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
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
Editor’s Note: Hat tip to the Creditors Rights Coalition for reaching out after last week’s blog to inform yours truly that the “judge shopping” concerns of creditor advocates extend beyond just the S.D. of Texas, and that a...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
Amazon to invest in Diamond Sports as part of bankruptcy deal | ABC News -
Diamond Sports has been in Chapter 11 bankruptcy proceedings since it filed for protection last March with debt of $8.67 billion. Amazon will partner...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
WSJ Report: Audacy Close to Filing for Bankruptcy| RadioWorld -
After struggling to pay back some of its $2 billion in debt, radio broadcaster Audacy is preparing to file for bankruptcy protection according to a report in...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
Bishop: Diocese of Sacramento to seek bankruptcy protection after over 250 lawsuits claim sexual abuse| CBS News Sacramento -
After receiving more than 250 lawsuits alleging sexual abuse by clergy and other staff, the...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