LIV Golf arrived in bankruptcy court after Saudi Arabia's Public Investment Fund pulled its backing, a group of noteholders of telecommunications company Hughes Satellite has sought to file its own restructuring plan, and a Delaware bankruptcy judge sustained objections to the retention of Herbert Smith Freehills Kramer LLP as the counsel of West Virginia coal plant operator Omnis Pleasants.
LIV Golf's bid to emerge from bankruptcy with fresh funding and an expanded pool of players depends on the embattled league's ability to win over star golfers who are owed millions of dollars. Without them, it risks losing a restructuring deal and the use of at least $3 billion in tax assets that attracted its new investor, experts told Law360.
Nightclub Balcon Salon will have a hearing on its liquidation plan and disclosure, FTX's recovery trust will undergo an omnibus hearing and a Texas bankruptcy judge will conduct a status conference in Fat Brands' case.