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Big Brands To Hit Bankruptcy In 2025 So Far
When packaged-foods giant Del Monte filed for bankruptcy this summer with $1.23 billion in debt, it became another iconic brand to seek relief in bankruptcy court, joining public-facing names such as Claire's and Hooters of America.
What's Happening In Bankruptcy Court This Coming Week
A New York bankruptcy court will consider letting Purdue Pharma collaborate with a nonprofit on a cancer drug. A Delaware bankruptcy judge is slated to hear Monster.com's bid to begin soliciting votes on a Chapter 11 plan. And another bankruptcy judge in Delaware will weigh whether to grant interim approval for the combined plan and disclosure of Heritage Coal's owner.
Under The Radar: Bankruptcy News You May Have Missed
Chipmaker Wolfspeed Inc. plans to sell $87 million in Macom Technology Solutions shares ahead of its expected exit from bankruptcy, a local New York real estate buyer was hit with triple fines for filing at least 22 bankruptcy petitions over two years to delay foreclosures, and Gateway Development Group's chief financial officer and chair must list assets to cover a $51.2 million prejudgment remedy in a derivative suit.
Big Brands To Hit Bankruptcy In 2025 So Far
When packaged-foods giant Del Monte filed for bankruptcy this summer with $1.23 billion in debt, it became another iconic brand to seek relief in bankruptcy court, joining public-facing names such as Claire's and Hooters of America.
What's Happening In Bankruptcy Court This Coming Week
A New York bankruptcy court will consider letting Purdue Pharma collaborate with a nonprofit on a cancer drug. A Delaware bankruptcy judge is slated to hear Monster.com's bid to begin soliciting votes on a Chapter 11 plan. And another bankruptcy judge in Delaware will weigh whether to grant interim approval for the combined plan and disclosure of Heritage Coal's owner.
Under The Radar: Bankruptcy News You May Have Missed
Chipmaker Wolfspeed Inc. plans to sell $87 million in Macom Technology Solutions shares ahead of its expected exit from bankruptcy, a local New York real estate buyer was hit with triple fines for filing at least 22 bankruptcy petitions over two years to delay foreclosures, and Gateway Development Group's chief financial officer and chair must list assets to cover a $51.2 million prejudgment remedy in a derivative suit.
Expert Analysis
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Large Cap More
A California state appeals court has found that claims of financial elder abuse and aiding and abetting a breach of fiduciary duty brought by two of Tom Girardi's co-counsel against his son-in-law were correct... (more story)
Spirit Airlines found itself in Chapter 11 for the second time in late August, less than six months after emerging from a previous bankruptcy in which it slashed $795 million of debt from the balance sheet.
Spirit Airlines kicked off its second Chapter 11 case in under a year on Tuesday by emphasizing it will more aggressively use the tools of bankruptcy to transform itself into a leaner business with dozens of f... (more story)
U.S. bankruptcy courts approved several major Chapter 11 plans: a Texas judge confirmed Party City's liquidation plan, Delaware approved Wag! Group's debt-to-equity restructuring, and New York approved the Dio... (more story)
A Texas bankruptcy judge Tuesday gave LifeScan permission to send its Chapter 11 plan out for a vote, overriding arguments that the blood glucose monitor maker provided too little information about the payment... (more story)
A Delaware bankruptcy judge on Friday declined to resolve a disagreement on how to interpret a mediated agreement between insolvent satellite business Ligado Networks, AST SpaceMobile Inc. and Viasat Inc. unit... (more story)
Less than six months after emerging from a previous Chapter 11 filing, budget air carrier Spirit Airlines landed back in bankruptcy Friday, this time focusing on streamlining its operations following a debt-fo... (more story)
The U.S. Department of Justice announced Friday that Ramona D. Elliott, deputy director of the U.S. Trustee Program, was appointed its acting director, filling a leadership position that had been vacant since ... (more story)
The Singapore International Arbitration Centre has announced it is kicking off two major initiatives with the launch of an ethics institute, as well as a new mechanism through which parties can seek resolution... (more story)
A New York federal judge has ordered the new owner of international shipping company Eletson to turn over documents requested by competitor Levona as the latter company looks to vacate an allegedly fraudulent ... (more story)
Mid Cap More
SilverRock Development asked a Delaware bankruptcy judge for permission to take out up to $2 million in additional Chapter 11 financing from the California city it had planned to build a resort in, saying it n... (more story)
A Delaware bankruptcy judge has thrown out the Chapter 11 case of Bedmar LLC, a subsidiary of pharmaceutical manufacturing company National Resilience HoldCo Inc., finding that the case was filed for a "tactic... (more story)
In a rare decision, Delaware's chancellor on Tuesday kept alive "Caremark" duty of oversight claims against most former officers and directors of a generic-drug maker previously known as Teligent.
Attorneys for Merit Street Media, the bankrupt broadcasting group co-founded by Dr. Phil, told a Texas bankruptcy judge Tuesday it reached deals to drum up additional Chapter 11 funding and create recoveries f... (more story)
Quinn Emanuel Urquhart & Sullivan LLP has urged a Massachusetts federal court to send a dispute over $30 million in legal fees allegedly owed by former client Desktop Metal back to state court to hash out clai... (more story)
Bankrupt pet care app business Wag! Group Co. received court approval Friday from a Delaware judge for its Chapter 11 plan that equitizes the secured debt of its prepetition lenders, while general unsecured cr... (more story)
Online furniture retailer Walker Edison filed for bankruptcy in Delaware to hold a swift Chapter 11 auction and press on with litigation alleging its former owners saddled it with unsustainable debt to fund a dividend.
Four individuals have been hit with a proposed class action from an investment advisory firm, accusing them of using purported investments in ATM networks to run a $700 million Ponzi scheme.
The chairman, secretary and chief financial officer of bankrupt construction management firm Gateway Development Group Inc. on Thursday asked a Connecticut judge to reconsider a $51.2 million asset freeze dema... (more story)
Founders of cryptocurrency mining firm Rhodium are defending their request for leave to pursue payouts from the company's directors and officers insurance policy, saying an ad hoc group's protests fell flat si... (more story)