October 21, 2022
Navient Solutions is appealing a nationwide injunction barring it from collecting on certain student loans discharged through bankruptcy, Mallinckrodt creditors are suing for the return of $1.6 billion used to buy back shares pre-bankruptcy, and liquidators for crypto hedge fund Three Arrows Capital want to serve subpoenas via Twitter. This is the week in bankruptcy.
October 18, 2022
Wells Fargo Bank NA said a recent decision from the Ninth Circuit weighs in favor of a Delaware bankruptcy court reconsidering its request to be paid contractual interest on notes it issued to Hertz Global before its Chapter 11 case began.
June 10, 2021
Car rental giant Hertz Global on Thursday gained approval for a Chapter 11 plan of reorganization returning $1 billion of value to shareholders, which a Delaware bankruptcy judge called "a remarkable result" about a year after the company had been staring down the edge of a liquidation cliff.
June 09, 2021
Hertz Co.'s second-lien noteholders told a Delaware bankruptcy judge they've reached a preliminary deal to drop their claim that the auto rental giant's Chapter 11 plan fails to give them the payments and rights their $350 million in notes entitle them to.
May 14, 2021
Hertz Global Holdings coasted through a nearly uneventful, fist-pumping pitch for a new $6 billion Chapter 11 plan sponsor agreement in Delaware bankruptcy court on Friday, securing approval to move ahead with revised numbers and disclosures under a proposal that would cover in full all creditor claims.
May 12, 2021
Bankrupt car rental giant Hertz Global Holdings announced Wednesday that an investment group led by Knighthead Capital Management and Certares Opportunities won a Chapter 11 auction to fund the debtor's reorganization, ending a weekslong competition among eager funding sources.
May 05, 2021
Bankrupt car rental giant Hertz Global announced Wednesday that a competing bid from a prospective sponsor for its Chapter 11 plan beat the existing deal the company has with a group of sponsors led by Centerbridge Partners, triggering a potential auction if Centerbridge decides to counter the offer.
May 04, 2021
Hertz Global confirmed early Tuesday receipt of a sweetened sponsorship offer from the original plan backers for the bankrupt rental giant's Chapter 11, potentially setting up a final three-day deadline for a topping offer by the current leader and a potential auction on May 10.
April 28, 2021
Car rental giant Hertz Global received permission Wednesday from a Delaware bankruptcy court for its last-ditch plan to solicit a topping bid on its Chapter 11 plan sponsorship deal that could trigger a competitive auction by mid-May.
April 26, 2021
Bankrupt car rental giant Hertz Global asked a Delaware judge Monday for approval of a timetable under which a competing equity sponsor group can submit a new proposal challenging the current Chapter 11 plan while still allowing Hertz to move toward a June confirmation date.