Chapter 11 Cases | News, Analysis & Bankruptcy Court Filings
191 FOLLOWERS
The following list is a sample of the bankruptcy cases and adversary proceedings that have been filed over the past twenty-four hours in selected bankruptcy
Chapter 11 Cases | News, Analysis & Bankruptcy Court Filings
2d ago
Here's what we are reading this morning:
UPDATE 3-Fisker shares halted after deal talks with big automaker collapse: Fisker's talks with a large automaker for a potential deal have collapsed, it said on Monday amid growing uncertainty for the cash-strapped startup that last week paused electric-vehicle production.
Consumer Credit Lender CURO Files for Bankruptcy - WSJ: Company expects to reduce its debt by $1 billion and yield annual cash interest savings of $75 million through restructuring
FTX to Sell Two-Thirds of Anthropic Stake for $884 Million - WSJ: Bankrupt cryptocurrency exchange F ..read more
Chapter 11 Cases | News, Analysis & Bankruptcy Court Filings
2d ago
Here's what we are reading this morning:
AMC Cinema’s Senior Lenders Meet to Discuss Chain’s Debt Options - Bloomberg: Senior lenders to AMC Entertainment Holdings Inc., the money-losing theater chain, met by phone Friday to discuss ways to bolster the company’s balance sheet, according to people with knowledge of the matter.
Texas Bankruptcy Court Rules in SmileDirect Structured Dismissal: While the trend towards structured dismissal may continue to grow, we write to highlight a recent decision in which a bankruptcy court denied a request by debtors to approve a sale of their assets to insi ..read more
Chapter 11 Cases | News, Analysis & Bankruptcy Court Filings
6d ago
Here's what we are reading this morning:
Outdoor Voices Barreling Toward Insolvency, Former Employees Say: The one-time unicorn DTC brand is headed for bankruptcy after closing all its stores and laying off the majority of its staff last week. The fallen women’s athletic apparel brand reportedly plans to file for an Assignment for the Benefit of Creditors (ABC)—a state-governed insolvency proceeding that keeps the issue out of the courts, and often results in a speedier liquidation of assets than other bankruptcy filings—within the coming weeks.
Illinois families owed millions of dollars aft ..read more
Chapter 11 Cases | News, Analysis & Bankruptcy Court Filings
6d ago
Here's what we are reading this morning:
Prison-Phone Firm Aventiv to Explore Sale, Extend Debt Under New Deal - Bloomberg: Platinum Equity’s Aventiv Technologies reached a tentative deal with lenders that calls for the prison-phone company to sell itself sometime in the next year, according to a person with knowledge of the matter.
Goldman Sachs has been eyeing crypto bankruptcy claims | The Block: Goldman Sachs has been looking at investing in crypto bankruptcy claims, according to Mathew McDermott, global head of digital assets.
Judge approves $125 million PACER fees settlement with US j ..read more
Chapter 11 Cases | News, Analysis & Bankruptcy Court Filings
6d ago
Here's what we are reading this morning:
Kirkland & Ellis’s James Sprayregen Leaving Firm for Hilco Global - WSJ: Sprayregen is leaving Kirkland after more than three decades, during which he started its corporate restructuring practice and turned the firm into a go-to destination for companies seeking legal advice for restructuring and bankruptcy.
Kirkland’s Jamie Sprayregen Departing Firm to Join Hilco Global: Jamie Sprayregen, the Kirkland & Ellis partner credited with founding its renowned restructuring practice, is leaving the law firm after more than three decades.
Bankrupt Cr ..read more
Chapter 11 Cases | News, Analysis & Bankruptcy Court Filings
1w ago
Here's what we are reading this morning:
Student Housing Pioneer Faces Angry Investors, Irate Judges and a $115 Million Bill - The New York Times: Patrick Nelson, who manages 18 student housing properties, is struggling to pay back his partners. He says the pandemic harmed his once-thriving business.
London Fund's FTX Bankruptcy Windfall Mired in Legal Battle - Bloomberg: Betting on the remains of FTX is lucrative — and complicated.
Herbalife holds investor meetings as refi pressure mounts: Herbalife has teamed up with bankers at Citi to hold meetings with debt investors, as it takes stock ..read more
Chapter 11 Cases | News, Analysis & Bankruptcy Court Filings
1w ago
Here's what we are reading this morning:
Ex-Real Estate Exec Accused Of $77M WeWork Stock Fraud - Law360: Manhattan federal prosecutors announced Thursday that the former CEO of real estate investment firm ArciTerra was indicted, alleging he issued a bogus $77 million offer for WeWork shares in an ultimately failed attempt to cash in on call options after juicing the stock price.
Two-Thirds of US Adults Would Rather Wait for Movies on Streaming: “The competition continues between streaming services and the Hollywood engine. While we still see evidence of loyal movie-goers in recent box ..read more
Chapter 11 Cases | News, Analysis & Bankruptcy Court Filings
1w ago
Here's what we are reading this morning:
Wood-Pellet Maker Enviva Files for Bankruptcy - WSJ: The nation’s largest exporter of wood pellets filed for chapter 11 following a failed gamble on future commodities prices
Genesis, Gemini Must Face SEC Suit Over Crypto ‘Earn’ Program - Bloomberg: The Securities and Exchange Commission can proceed with its suit accusing Gemini Trust Co. and bankrupt cryptocurrency lender Genesis Global Capital of illegally offering unregistered securities through their interest-paying Gemini Earn product.
Electric-Vehicle Startup Fisker Prepares for Possible Bankru ..read more
Chapter 11 Cases | News, Analysis & Bankruptcy Court Filings
2w ago
Here's what we are reading this morning:
After SVB Failed, FHLB Charged $285 Million in Fees to Wind Down Financing - Bloomberg: US banking regulators confronted an unusually large penalty when they seized Silicon Valley Bank last year: $285 million in fees to prematurely wind down emergency financing from the Federal Home Loan Bank system.
Discount Retailer 99 Cents, Lenders Prep for Debt Restructuring: Discount retailer 99 Cents Only Store LLC is exploring a debt restructuring, and some bondholders have hired advisory firm Portage Point Partners for talks, according to people with knowledg ..read more
Chapter 11 Cases | News, Analysis & Bankruptcy Court Filings
2w ago
Here's what we are reading this morning:
Sorrento Defeats DOJ Effort to Move Bankruptcy Out of Texas: A Texas judge ruled that Sorrento Therapeutics Inc. can keep its bankruptcy case in Houston following a dispute over the legitimacy of its connection to the Lone Star state.
SF's first office to housing project in doubt, could foreclose: The first project approved in San Francisco to convert vacant commercial space into housing in the wake of the pandemic has hit headwinds as its developer faces foreclosure proceedings.
BlockFi’s Zac Prince Leaves Crypto, Joins Real Estate Tech Startup Re C ..read more