Failed restructuring negotiations with shipowners forced Italian Sea Group to seek court protection, with the Italian luxury yacht maker launching a court-supervised restructuring process in its home country as the business grapples with its net financial debt of roughly $204 million.
A mining operation will undergo an omnibus hearing in its Chapter 11 case, a Nevada solar project will seek plan confirmation and Saks will ask for permission to sell a lease and real property.
More than two dozen U.S. summer camps are for sale just as kids arrive for the season, under a rapid timeline in the free-fall bankruptcy of SIMAD Holdings, and whether they land in the hands of outsiders or longtime directors trying to buy back their properties is up in the air.