July 11, 2024
A New Jersey bankruptcy judge on Thursday approved Rite Aid's sale of most of its interests in a $567 million loan that it made, the proceeds of which it will distribute to creditors under its Chapter 11 reorganization plan.
July 10, 2024
Rite Aid agreed to a nearly $410 million settlement with the U.S. Department of Justice, the bulk of which will be an unsecured claim in the company's Chapter 11 case, that will put to bed allegations the pharmacy chain dispensed opioids illegally, the DOJ announced Wednesday.
July 08, 2024
Bankrupt pharmacy chain Rite Aid has asked a New Jersey bankruptcy judge to find the purchaser of its prescription benefits subsidiary in contempt, saying the buyer is defying his orders by refusing to assume $200 million of the subsidiary's liabilities.
June 28, 2024
A New Jersey bankruptcy judge Friday approved pharmacy chain Rite Aid's Chapter 11 restructuring plan after the company said it had resolved objections from its insurance carriers to how the plan treats their policies.
June 27, 2024
Counsel for bankrupt drugstore chain Rite Aid told a New Jersey bankruptcy judge Thursday that it hopes to reach an agreement with at least some of its insurers on payments into an opioid settlement fund before closing arguments in its Chapter 11 plan confirmation Friday.
June 26, 2024
Thursday's Chapter 11 plan confirmation hearing for Rite Aid will open with arguments on whether the drugstore chain can use its bankruptcy to escape fraud claims lodged by the state of Maryland over the company's opioid sales.
June 24, 2024
A New Jersey bankruptcy judge kept the Chapter 11 plan confirmation hearing of drugstore chain Rite Aid Corp. on track Monday, denying a request from the debtor's insurers to delay the proceedings to allow for additional discovery about the plan's impact on their contractual rights.
June 20, 2024
A group of insurers that issued policies to Rite Aid Corp. opposed the company's Chapter 11 plan in New Jersey bankruptcy court, saying in an objection that the plan would undercut the insurer's contractual rights and seeks to box in the insurers on the liability related to opioid claims.
June 18, 2024
Branches of Rite Aid and Silicon Valley Bank, technology and biotech firms and a discount store chain were among the companies that attracted top dollar in the Chapter 11 auctions held during the first half of 2024.
June 07, 2024
Bankrupt retail drug-store chain Rite Aid Corp. received court approval on Friday in New Jersey for an amended debtor-in-possession financing package that provides $75 million in new-money financing as it moves toward confirmation of a Chapter 11 plan.