Personalized mattress retailer Sleep Number Corp. will ask a New York bankruptcy judge to approve a disclosure statement for its proposed Chapter 11 liquidation plan and authorize it to solicit votes from creditors. Here's a look at the liquidation plan it is seeking to have confirmed.
Rochester Manor, the operator of three nursing homes across western Pennsylvania, struggled for years to pay its employees, fill all available beds and provide care that met Medicaid standards, with cash-flow issues and unpaid taxes and rent driving it into Chapter 11 protection earlier this month.
A group of experts that advises Congress on bankruptcy matters is making a renewed push for a new chapter of the Bankruptcy Code to combat an increase in what one judge has called "bankruptcy tourism," as debtors are increasingly looking abroad to avoid costly Chapter 11 filings.