Under The Radar: Bankruptcy News You May Have Missed
The trustee in Bernie Madoff's bankruptcy unveiled a deal to end longtime litigation with a United Arab Emirates sovereign wealth fund. A bitcoin owner alleged scammers used confidential creditor information stolen from a bankruptcy claims agent to target him. And creditors objected to a resort developer's proposal to split land sale proceeds.
Saks Looks To Complete Debt-Equity Swap By Summer
Saks Global has filed a Chapter 11 plan and disclosure statement, which call for the company to hand over its equity to the bondholders who have provided its debtor-in-possession financing, as the retailer aims to exit bankruptcy by the summer.
Debt Deals Drop Ch. 11 Recoveries To 10-Year Low, Fitch Says
Creditors holding high-ranking debt issued by companies that emerged from bankruptcy in 2025 faced the worst average recoveries on their investment in the past 10 years, as liability management exercises that supply firms with new financing put increased pressure on lenders, Fitch Ratings has said in a new report.
Under The Radar: Bankruptcy News You May Have Missed
The trustee in Bernie Madoff's bankruptcy unveiled a deal to end longtime litigation with a United Arab Emirates sovereign wealth fund. A bitcoin owner alleged scammers used confidential creditor information stolen from a bankruptcy claims agent to target him. And creditors objected to a resort developer's proposal to split land sale proceeds.
Saks Looks To Complete Debt-Equity Swap By Summer
Saks Global has filed a Chapter 11 plan and disclosure statement, which call for the company to hand over its equity to the bondholders who have provided its debtor-in-possession financing, as the retailer aims to exit bankruptcy by the summer.
Debt Deals Drop Ch. 11 Recoveries To 10-Year Low, Fitch Says
Creditors holding high-ranking debt issued by companies that emerged from bankruptcy in 2025 faced the worst average recoveries on their investment in the past 10 years, as liability management exercises that supply firms with new financing put increased pressure on lenders, Fitch Ratings has said in a new report.
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Large Cap More
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Consulting firm McKinsey & Co. has agreed to pay $125 million to former client Purdue Pharma LP to settle potential claims related to its work advising Purdue on the sale and marketing of opioids, tying up ano... (more story)
A creditor group in Multi-Color Corp.'s Chapter 11 case has urged a New Jersey bankruptcy judge to delay the label-maker's confirmation hearing by at least a month, saying the debtor has run a "sham" sale proc... (more story)
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A Texas bankruptcy judge Wednesday denied a request from Genesis Healthcare to pay $1.6 million to a company that had offered to provide postpetition financing, finding the debtor should have sought approval o... (more story)
Restaurant group Fat Brands received approval Wednesday from a Texas bankruptcy judge to pay up to $1.9 million in bonuses to key corporate employees the debtor said were at risk of leaving while it pursues an... (more story)
Binance and its founder told a Delaware bankruptcy judge Wednesday there are no grounds on which to claw back a $1.76 billion payment to the cryptocurrency platform from its defunct competitor FTX, saying it w... (more story)
The First Circuit wrestled Wednesday with whether to overturn a ruling that Puerto Rico's debt restructuring does not block civil rights lawsuits against the commonwealth's officials as individuals, giving no ... (more story)
Mid Cap More
Unsecured creditors of mining company Vanderbilt Minerals told a New York bankruptcy judge Thursday that the company's choice of counsel should not be honored because Jones Day previously worked for nondebtor ... (more story)
Long Island nursing home operator Cold Spring Acquisition pushed back on a bid by its unsecured creditors' committee to convert its Chapter 11 bankruptcy to a Chapter 7 liquidation, arguing the committee faile... (more story)
Embattled Texas firm MMA Law has filed nearly a score of complaints amid an ongoing bankruptcy action, including accusing a Louisiana attorney, his wife and an insurer of working together to "target, dismantle... (more story)
Denmark-based biotechnology firm IO Biotech has retained a team from Young Conaway Stargatt & Taylor LLP to guide it through Chapter 7 liquidation in Delaware bankruptcy court after its prospective cancer vacc... (more story)
A Maryland federal court has dismissed the remaining claims by workers in a wage lawsuit against a home healthcare provider after related bankruptcy proceedings resolved the dispute, according to court filings.
A Colorado cannabis company requested judicial oversight of its dissolution Tuesday after informing a state court judge through a motion for emergency appointment of a receiver that the company is no longer ab... (more story)
A Texas bankruptcy judge on Wednesday said he would confirm bankrupt recycler Aleon Metals LLC's Chapter 11 plan once its releases are narrowed, having concluded that the releases were consensual.
The U.S. Securities and Exchange Commission has sued the former CEO of a now-defunct organic alcohol company in Minnesota federal court for allegedly raising $2.4 million from investors after recording sham tr... (more story)
A bankrupt Nevada solar plant project is "hopelessly conflicted" and should see its case taken over by a Chapter 11 trustee, according to a creditor's motion filed on Wednesday.
The owner of Element Student Living, an apartment complex near California State University Sacramento linked to real estate firm Versity Investments, filed for Chapter 11 protections in Delaware with at least ... (more story)