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Latest News in Bankruptcy

  • February 20, 2024

    US Trustee Wants Sorrento Ch. 11 Tossed Or Relocated

    The U.S. Trustee's Office has moved to have Sorrento Therapeutics' Chapter 11 case dismissed, alleging the biopharmaceutical company manufactured a venue in Texas bankruptcy court, even as the debtor asked for court approval to sell off its assets to its CEO under a revised reorganization plan.

  • February 20, 2024

    Audacy Ch. 11 Plan Reducing Debt By $1.6B Confirmed

    Radio station operator Audacy Inc. received approval on Tuesday for its prepackaged Chapter 11 bankruptcy plan, allowing it to convert about $1.6 billion of debt to equity and emerge from bankruptcy following approval from the Federal Communications Commission.

  • February 20, 2024

    Almond Farmer Hits Ch. 11 With $188M Debt, Sale Plans

    An almond ranch operator in California and 18 of its affiliates have petitioned for Chapter 11 protection, laying out plans to use $30 million in debtor-in-possession financing to maintain operations while looking to shed some or all of its properties to pay off $188 million in debt.

  • February 20, 2024

    US Trustee Says Coffee Co. Can't Redact Execs' Names

    The U.S. Trustee's Office asked a New York bankruptcy judge to reject a request by Mercon Coffee Group to expunge the names of its senior managers, directors and owners from its Chapter 11 filings, saying this is basic information the public has the right to know.

  • February 20, 2024

    Hess Corp. Oil Refinery Unit Gets OK For Ch. 11 Plan

    Oil and gas company Hess Corp.'s bankrupt oil refinery unit HONX Inc. received confirmation of its Chapter 11 reorganization plan that would allow it to pay $105 million to injury claimants who they say were affected by the company's asbestos exposure.

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