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Latest News in Bankruptcy

• January 09, 2026

  Buffalo Diocese Says It Needs Opt-Out Ch. 11 Releases

  The Roman Catholic Diocese of Buffalo on Friday told a New York bankruptcy judge that a U.S. Trustee's Office proposal that it be required to obtain affirmative consent for claims releases in its Chapter 11 plan would doom more than $200 million in settlements.

• January 09, 2026

  Prison Phone Co. Hits Ch. 11 After Judgment In Trust Feud

  Smart Communications, which provides phone and messaging services for inmates in prisons across the country, has filed for Chapter 11 protection in Florida bankruptcy court facing an at least $42 million judgment tied to a dispute with a family trust over ownership of the company.

• January 09, 2026

  First Brands Sues Ex-CEO's Brother, Lender For $2.9B Fraud

  First Brands sued former board member Edward James and Utah-based company Onset Financial Inc. in Texas bankruptcy court Friday, alleging he operated as Onset's "secret partner" to rig contracts between First Brands and Onset that let them reap triple-digit returns and $2.9 billion in cash.

• January 09, 2026

  Biz Owner's RICO Suit Says 5 Calif. Attys Helped Loot IT Co.

  A business owner has filed a lawsuit accusing five attorneys from five different small California law firms of conspiring with his ex-business partner to steal assets from a company the two had jointly owned.

• January 09, 2026

  Sanchez Energy Lenders Float Deal To End Ch. 11 Lien Fight

  The owners of the reorganized equity in oil driller Sanchez Energy proposed a deal Friday in Texas bankruptcy court that will end lien-related litigation with unsecured creditors by paying $8.5 million of legal fees incurred by representatives for those creditors in the fight over rights to equity recoveries in the Chapter 11 case.

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