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.
More Cases, Fewer Staffers Pinch US Bankruptcy Watchdog
The federal bankruptcy watchdog program is being squeezed by staffing and budget cuts at the same time as insolvency filings are on the upswing, raising questions about whether the already austere Office of the U.S. Trustee can continue executing its mission of ensuring the integrity of the country's bankruptcy system.
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Court-appointed liquidators of the companies in the Prince Group — linked by U.S. and U.K. authorities to a massive Cambodia-based "pig butchering" network that used human-trafficked captives to sell scam cryp... (more story)
A Federal Circuit panel expressed frustration with attorneys from both Purdue Pharma LP and generic-drug maker Accord Healthcare Inc. Wednesday as it tried to navigate whether the Delaware district court order... (more story)
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)
The U.S. Trustee's Office blasted radio giant Cumulus' Chapter 11 plan, attacking what it characterized as nonconsensual releases as fatal to the debtor's confirmation hopes.
A Texas bankruptcy judge on Tuesday put off a final decision on auto parts maker First Brands' move to speedily sell several of its filter and windshield wiper brands for $25 million, saying he wanted to know ... (more story)
Mall owner Simon Property Group has joined with other landlords of Fat Brands' eateries to tell a Texas bankruptcy court that the restaurant group's proposed Chapter 11 sale procedures don't give the property ... (more story)
A D.C. Circuit judge told the attorney for the embattled former CEO of Steward Health Care on Tuesday that she couldn't comprehend how his client could invoke his Fifth Amendment rights without showing up to h... (more story)
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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)
A Colorado state judge has granted a bankruptcy attorney's request to dismiss his complaint against Google, in which he accused the company of removing his firm's business profile without explanation.
California resort developer SilverRock Development Co. LLC received approval Tuesday from a Delaware bankruptcy judge to send its proposed Chapter 11 plan out for a creditor vote after lengthy mediation effort... (more story)
The U.S. Trustee's Office has asked a New Jersey bankruptcy judge to convert work wear and healthcare apparel retailer Work N Gear's Chapter 11 case to a Chapter 7 liquidation or dismiss it altogether because ... (more story)
Goodwin Procter LLP has grown its financial restructuring practice with the addition of attorneys in the New York and Boston offices with more than 40 years' combined experience at WilmerHale.