Friday, November 22

Tag: WSJ-PRO-DEBT

Amazon Aggregator Thrasio Engages Restructuring Advisers
27Sep By adminNo Comments
World

Amazon Aggregator Thrasio Engages Restructuring Advisers

Thrasio, a startup that in recent years bought up dozens of consumer brands sold on Amazon, is working with advisers to explore restructuring options as it contends with a postpandemic slump in online spending, according to people familiar with the matter. 
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Judge Blocks Camden Diocese’s Bankruptcy Plan for Sex-Abuse Victims
30Aug By adminNo Comments
World

Judge Blocks Camden Diocese’s Bankruptcy Plan for Sex-Abuse Victims

A bankruptcy judge rejected a sex-abuse compensation plan for the Diocese of Camden, N.J., saying that it would violate the rights of insurance companies on the hook for payment to abuse survivors Judge Jerrold Poslusny said he couldn’t release the Camden diocese from bankruptcy because its plan for compensating hundreds of sex-abuse victims would expose its insurers to paying potentially inflated or fraudulent claims.Camden’s failure to win court approval to exit bankruptcy after nearly three years highlights the growing discord among...
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Rite Aid Prepares Bankruptcy That Would Halt Opioid Lawsuits
25Aug By adminNo Comments
World

Rite Aid Prepares Bankruptcy That Would Halt Opioid Lawsuits

Resume Subscription We are delighted that you'd like to resume your subscription. You will be charged $ + tax (if applicable) for The Wall Street Journal. You may change your billing preferences at any time in the Customer Center or call Customer Service. You will be notified in advance of any changes in rate or terms. You may cancel your subscription at anytime by calling Customer Service. Please click confirm to resume now. Confirm
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Mallinckrodt Lenders to Take Control in Bankruptcy That Cuts $1 Billion in Opioid Payments
23Aug By adminNo Comments
World

Mallinckrodt Lenders to Take Control in Bankruptcy That Cuts $1 Billion in Opioid Payments

Resume Subscription We are delighted that you'd like to resume your subscription. You will be charged $ + tax (if applicable) for The Wall Street Journal. You may change your billing preferences at any time in the Customer Center or call Customer Service. You will be notified in advance of any changes in rate or terms. You may cancel your subscription at anytime by calling Customer Service. Please click confirm to resume now. Confirm
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Wheels Up in Talks With Lenders Amid Cash Crunch
11Aug By adminNo Comments
World

Wheels Up in Talks With Lenders Amid Cash Crunch

Wheels Up Experience, an upstart provider of private jets, is in talks with lenders about a debt restructuring while exploring other options to avoid bankruptcy, according to people familiar with the matter. The New York-based company has recently started discussions with Bain Capital and MSD Capital, large holders of more than $260 million in equipment financing notes, after missing recent debt payments, the people said. “As...
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Supreme Court Blocks Purdue Pharma’s $6 Billion Sackler Opioid Settlement
10Aug By adminNo Comments
World

Supreme Court Blocks Purdue Pharma’s $6 Billion Sackler Opioid Settlement

WASHINGTON—The Supreme Court blocked Purdue Pharma’s $6 billion settlement of opioid lawsuits against its Sackler family owners, agreeing to hear the Justice Department’s claim that the drugmaker’s bankruptcy plan improperly wipes out potential liability to additional parties for allegedly fueling the addiction crisis.
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Firm Retention Summary: Peer Street
27Jul By adminNo Comments
World

Firm Retention Summary: Peer Street

This is a summary of a request from Peer Street to hire Kramer Levin Naftalis & Frankel as bankruptcy co-counsel, filed July 7 with the U.S. Bankruptcy Court in Wilmington, Del.
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Bed Bath & Beyond Shareholders to Recover Nothing Under Proposed Reorganization Plan
21Jul By adminNo Comments
World

Bed Bath & Beyond Shareholders to Recover Nothing Under Proposed Reorganization Plan

Bed Bath & Beyond shareholders will receive zero recovery under a proposed reorganization plan that the bankrupt home-goods retailer revealed on Thursday.  The proposal, filed with the U.S. Bankruptcy Court in New Jersey, said the stock in Bed Bath & Beyond “shall be canceled, released and extinguished.” Shareholders will have no right to claim any future recovery either, according to the proposed plan.  Shares...
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Rockville Diocese Granted More Time in Bankruptcy
20Jul By adminNo Comments
World

Rockville Diocese Granted More Time in Bankruptcy

A bankruptcy judge blocked sex-abuse victims’ request to throw out the Diocese of Rockville Centre’s chapter 11 case, granting the diocese until the end of October to file a new reorganization plan to compensate survivors. The official committee representing survivors had asked Judge Martin Glenn in the U.S. Bankruptcy Court of Manhattan to dismiss the bankruptcy case of the Long Island, N.Y., diocese, arguing that it has made little progress in a reorganization plan to compensate victims and that continuing to operate in...
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