Camp Mystic will languish in Chapter 11 unless a trustee takes over from the owners of the Texas summer camp, its unsecured creditors said. A company that provides data training for artificial intelligence models said it plans to top Google's $10 million bid for the data of Spirit Aviation Holdings. Alcohol distributor Republic National Distributing Co. has proposed an $11 million private sale of certain assets.
A novice bankruptcy lawyer may have learned a great deal from law school, but more senior lawyers can offer lessons for developing successful prepackaged Chapter 11 cases, including the need to take a long view, keep a collaborative spirit and draw from diverse personal experience.
Vi-Jon, a maker of private-label dry bath products, has filed a disclosure statement and Chapter 11 plan calling for the creation of a settlement trust funded by at least $25 million from its parent company, a proposal that would resolve its talc liabilities.