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Catching Up With New Bankruptcy Case Action
Drugstore chain Rite Aid Corp. reentered bankruptcy with over $1 billion in debt less than a year after its earlier reorganization plan was approved, e-commerce firm Digital River Marketing Solutions Inc. filed for Chapter 7 with approximately $45.2 million in secured debt, and the owner of a Manhattan condo building filed for Chapter 11 with $32 million in mortgage debt in the face of foreclosure. Here are this week's new bankruptcy cases.
Small Biz, Consumer Bankruptcies On The Rise In 2025
More small businesses and consumers sought bankruptcy protections at the start of 2025 compared to the same period last year, according to recently released data, as economic uncertainty, macroeconomic pressures and an end to pandemic-era relief programs converge.
23andMe Gets Privacy Watchdog, Yellow Investors Push Ch. 7
A Missouri bankruptcy judge signed off on a consumer privacy watchdog for 23andMe's Chapter 11. A group of shareholders and unsecured creditors that previously supported Yellow Corp. attempting a Chapter 11 plan have shifted gears and asked a Delaware bankruptcy judge to convert the case to a Chapter 7 liquidation. Chicken restaurant Sticky's won a Delaware bankruptcy judge's tentative permission to sell its assets to an investment fund for $2 million.
Catching Up With New Bankruptcy Case Action
Drugstore chain Rite Aid Corp. reentered bankruptcy with over $1 billion in debt less than a year after its earlier reorganization plan was approved, e-commerce firm Digital River Marketing Solutions Inc. filed for Chapter 7 with approximately $45.2 million in secured debt, and the owner of a Manhattan condo building filed for Chapter 11 with $32 million in mortgage debt in the face of foreclosure. Here are this week's new bankruptcy cases.
Small Biz, Consumer Bankruptcies On The Rise In 2025
More small businesses and consumers sought bankruptcy protections at the start of 2025 compared to the same period last year, according to recently released data, as economic uncertainty, macroeconomic pressures and an end to pandemic-era relief programs converge.
23andMe Gets Privacy Watchdog, Yellow Investors Push Ch. 7
A Missouri bankruptcy judge signed off on a consumer privacy watchdog for 23andMe's Chapter 11. A group of shareholders and unsecured creditors that previously supported Yellow Corp. attempting a Chapter 11 plan have shifted gears and asked a Delaware bankruptcy judge to convert the case to a Chapter 7 liquidation. Chicken restaurant Sticky's won a Delaware bankruptcy judge's tentative permission to sell its assets to an investment fund for $2 million.
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Large Cap More
A New York federal judge on Tuesday determined that since enough evidence existed to show international shipping group Eletson Holdings may have committed fraud in an arbitration over a deal with another entit... (more story)
The Chapter 7 trustee overseeing the $942 million estate of Irish real estate developer Sean Dunne will settle claims of more than €3.6 million ($4 million) from a woman who alleges to be Dunne's first wife, t... (more story)
Officials from a dozen states have accused the Consumer Financial Protection Bureau of ghosting them on a $4.2 million redress plan for former students of a shuttered sales-training firm, saying the agency has... (more story)
Boies Schiller Flexner LLP cannot move to federal district court a $654,000 adversary proceeding in Chinese exile Miles Guo's Connecticut bankruptcy, according to a district court judge's ruling that said it w... (more story)
Alex Jones' former lead Connecticut attorney has asked a state appeals court to pause the remaining seven days of a suspension he was handed for a role in transferring Sandy Hook families' confidential records... (more story)
Retail brand operator Franchise Group received a Delaware bankruptcy judge's blessing Tuesday to sell supplement chain Vitamin Shoppe for $193.5 million ahead of its Chapter 11 confirmation hearing.
Meat distributor Harvest Sherwood Food Distributors Inc. has filed for Chapter 11 protection in Texas bankruptcy court with up to $559 million in debt, saying it intends to wind down its remaining business and... (more story)
A Delaware bankruptcy judge denied a motion from the Italian subsidiary of talc producer Imerys Talc America seeking to appoint the same attorney as the future claims representative as the lead debtor Monday, ... (more story)
Crypto mining company Mawson Infrastructure Group Inc. asked a Delaware bankruptcy judge to throw out an attempt by Celsius Network to impose sanctions on Mawson in the company's involuntary Chapter 11 case, s... (more story)
Drugstore chain Rite Aid Corp. reentered bankruptcy Monday less than a year after its earlier reorganization plan was approved, filing for Chapter 11 protection in New Jersey bankruptcy court with more than $1... (more story)
Mid Cap More
The Office of the U.S. Trustee said Tuesday it had appointed Washington University School of Law Professor Neil M. Richards as consumer privacy ombudsman in 23andMe's Chapter 11 case to vet a sale process for ... (more story)
The Chapter 11 plan disclosure statement of digital content delivery company Edgio Inc. received bankruptcy court approval Tuesday in Delaware after counsel for the debtor said the documents were being present... (more story)
The owners of a defunct and half-demolished shopping mall in the Pittsburgh suburbs say the surrounding borough didn't give them enough information to contest the order condemning their property, but judges of... (more story)
A government contractor that provides information technology services filed for Chapter 11 bankruptcy protection in New York, listing more than $30 million in debt and wracked by uncertainty over potential cut... (more story)
California-based biotechnology company Synthego Corp. filed for Chapter 11 in Delaware bankruptcy court, listing up to $500 million in debt and outlining a plan to sell its assets to its prepetition lender dur... (more story)
A bankrupt patent-holding company that owes more than $500,000 in attorney fees to Verizon Wireless has told the Federal Circuit that Verizon waited too long after beating its telecommunications patent case to... (more story)
A Delaware bankruptcy judge on Monday agreed to give the green light to power plant operator Burgess BioPower LLC to solicit votes on its second Chapter 11 plan, which contemplates a debt-equity swap.
The official committee of unsecured creditors in Exactech Inc.'s Chapter 11 case told a Delaware bankruptcy judge that the company's solicitation packages sent to tort claimants violate court-approved procedur... (more story)
Counsel for the owners of Heritage Coal told a Delaware bankruptcy judge on Monday that if secured and unsecured creditors cannot reach a deal by Tuesday, the company will have to move to convert its bankruptc... (more story)
Arizona-based Royal Interco LLC, which supplies private-label paper products for grocery chains including Trader Joe's and Aldi, was given final approval on Friday from a Delaware bankruptcy judge to access a ... (more story)