Deal Struck In Discount Chain Plan, No Sanctions In J&J Case
Holders of notes issued by 99 Cents Only will take a $297 million haircut, Beasley Allen dodged discovery sanctions in Johnson & Johnson's latest spinoff bankruptcy and a Mexican industrial equipment leasing group sought U.S. recognition for its reorganization. This is the week in bankruptcy.
Stoli USA Says Putin Opposition Landed It In Bankruptcy
Vodka giant Stoli Group's U.S. arm has filed for Chapter 11 in Texas after having its last assets in Russia, amounting to $100 million, seized by Vladimir Putin's government, with its operations also being disrupted by a data breach and ransomware attack this summer.
The Story Behind Vroom's Chapter 11 Case
A few years ago, used-car seller Vroom Inc. was expanding rapidly and beating sales records quarter after quarter, spurred on by customers shopping online for vehicles during the COVID-19 pandemic. Now, Vroom is in bankruptcy court as a shell of its former self, seeking to turn over what remains of its business to investors.
Deal Struck In Discount Chain Plan, No Sanctions In J&J Case
Holders of notes issued by 99 Cents Only will take a $297 million haircut, Beasley Allen dodged discovery sanctions in Johnson & Johnson's latest spinoff bankruptcy and a Mexican industrial equipment leasing group sought U.S. recognition for its reorganization. This is the week in bankruptcy.
Stoli USA Says Putin Opposition Landed It In Bankruptcy
Vodka giant Stoli Group's U.S. arm has filed for Chapter 11 in Texas after having its last assets in Russia, amounting to $100 million, seized by Vladimir Putin's government, with its operations also being disrupted by a data breach and ransomware attack this summer.
The Story Behind Vroom's Chapter 11 Case
A few years ago, used-car seller Vroom Inc. was expanding rapidly and beating sales records quarter after quarter, spurred on by customers shopping online for vehicles during the COVID-19 pandemic. Now, Vroom is in bankruptcy court as a shell of its former self, seeking to turn over what remains of its business to investors.
Expert Analysis
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Large Cap More
In a more muted holiday week for bankruptcy filings, the courts still saw several cases come in, including the U.S. arm for iconic vodka brand Stoli and the Cayman Island subsidiaries of struggling budget airline Spirit.
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Mid Cap More
A law firm debtor urged a Florida bankruptcy court Tuesday to approve a $645,000 settlement in its Chapter 11 to resolve a proposed fraudulent misrepresentation class action in state court against a former Mia... (more story)
A Texas bankruptcy judge said Tuesday he would allow the U.S. arm of vodka giant Stoli Group to use cash collateral to fund its Chapter 11 case on an interim basis after the debtor reached an agreement on repo... (more story)
A Delaware bankruptcy judge gave Film Finance Inc., a company that offers financing for high-profile film projects, the go-ahead Tuesday to put itself on the auction block early next year after dropping protec... (more story)
Drugmaker Nostrum Laboratories told a New Jersey bankruptcy judge Tuesday that close to 30 parties are weighing bids for the company's assets, with the debtor planning to choose a stalking horse bidder in the coming weeks.
Oil and gas drilling services provider Independence Contract Drilling has filed for Chapter 11 protection in a Texas bankruptcy court with more than $230 million in debt and a prepackaged debt-swap restructuring plan.
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The bankrupt developer of a housing project that was beset by landslides has settled with a construction company and a Western Pennsylvania township in exchange for finishing some of its remaining cleanup work... (more story)
A hearing on a motion to dismiss the Chapter 11 case of an entity tied to the Miss America pageant will wait until after the competition wraps up in January, a Florida bankruptcy judge ruled Wednesday, allowin... (more story)