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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 08, 2026

  Venezuela Says Citgo Auction Marred By Conflicts

  Venezuela pressed the Third Circuit Thursday to overturn an order greenlighting the nearly $6 billion sale of Citgo to satisfy billions of dollars of the country's debt, arguing that the underlying attachment orders are void and that the proceeding was marred by "obvious" conflicts of interest.

• January 08, 2026

  Wolfspeed Securities Class Action Sent To NC Federal Court

  A securities class action case against chipmaker Wolfspeed Inc. was transferred to North Carolina federal court Wednesday following a New York judge's order directing the movement of the consolidated investor suits over alleged misrepresentations about the company's financial projections.

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