June 01, 2026
A Delaware bankruptcy court approved home lending broker Impac Mortgage Holdings Inc.'s Chapter 11 plan, Canadian furniture company Bestar Inc. got Chapter 15 recognition and a Texas judge refused First Brands' bankruptcy plan disclosure.
May 28, 2026
Spirit Airlines has asked a New York bankruptcy judge to approve an incentive program aimed at keeping its CEO, general counsel and vice president of special projects employed while the carrier winds down.
May 27, 2026
Spirit Airlines received approval Wednesday for $275 million in Chapter 11 financing that aims to simplify the previously approved sale of 20 aircraft to a stalking horse buyer as it seeks to preserve assets during its wind-down.
May 27, 2026
With its sudden shutdown earlier this month, Spirit Airlines joined the likes of Pan Am, TWA and Eastern Airlines that have failed to restructure in Chapter 11, a process experts say is notoriously difficult for an industry with expensive assets, complex financing arrangements and a maze of complicated federal regulations.
May 22, 2026
First Brands will seek approval of its plan disclosure statement, Spirit Airlines will make a bid for postpetition financing, Bestar Inc. will seek recognition of its foreign insolvency as its primary bankruptcy proceeding, and Carbon Health will take its plan before a Texas judge for confirmation.
May 13, 2026
Laid-off employees of Spirit Airlines have filed a putative class action against the debtor, demanding two months' pay and benefits following Spirit's abrupt shutdown and the loss of their jobs.
May 05, 2026
A New York bankruptcy judge on Tuesday agreed to approve Spirit Airlines' package of wind-down motions after rising fuel costs and unsuccessful efforts to secure federal rescue financing forced it to walk away from restructuring plans.
May 04, 2026
Purdue Pharma received the green light for a settlement on its road out of Chapter 11, a Texas bankruptcy judge gave the all-clear to Saks Global's plan disclosure, and Spirit Airlines said it would undergo a shutdown instead of a government-backed rescue.
May 04, 2026
Spirit Airlines asked a New York bankruptcy judge Monday to sign off on the wind-down of its operations, including either selling the company's remaining 28 aircraft or leaving them on the tarmac for creditors to repossess.
May 01, 2026
President Donald Trump said Friday the federal government had given Spirit Airlines a "final proposal" for a financing package that could help rescue the bankrupt budget airline amid reports that Spirit is preparing to shut down.