U.S. Bankruptcy Courts News and Legal Updates
Goldman Sachs arbitration bid reaches U.S. Supreme Court in bankruptcy dispute
A dispute over creditor rights in bankruptcy is moving to the U.S. Supreme Court as judges take up a Goldman Sachs request tied to arbitration agreements. The case is set to test how far the ...
U.S. Trustee Program revokes Seattle debtor's $3.9 million bankruptcy discharge
A bankruptcy court in Washington state has stripped a Seattle man of his Chapter 7 discharge after finding he concealed inheritance rights and a business interest during the process. The ruling ...
LIV Golf rescue financing collapses as league nears liquidation
LIV Golf is approaching a critical court hearing after losing a proposed financing package meant to support a reworked version of the league. The setback comes after the circuit, already in ...
Asdion secures court approval for creditors' meeting, granted three-month protection
Asdion Bhd is pursuing debt restructuring efforts as its regularisation status remains in focus following the suspension of trading in the company's shares. The Kuala Lumpur High Court's approval ...
Mercer International plans Chapter 11 to cut $1.1 billion in debt
Mercer International is moving to restructure its balance sheet through a prepackaged Chapter 11 filing in Texas. The plan includes about $400 million of new money and would convert roughly $1.1 ...
Disney character AI licensing plan faces privacy scrutiny in bankruptcy court
Character Technologies' effort to license some of its artificial intelligence technology to Walt Disney is drawing added legal scrutiny as the company navigates bankruptcy proceedings. A U.S. ...
U.S. judge Alvin Hellerstein dies after overseeing major Wall Street and political cases
A veteran federal judge whose courtroom handled some of the most consequential financial fraud and political cases in the U.S. has died at 92. Alvin Hellerstein remains active on the bench until ...
Citgo parent sale faces U.S. appeals court scrutiny amid $5.9 billion auction dispute
A court-organized auction of Citgo Petroleum's parent is moving through the U.S. appeals process as creditors, Venezuela and rival bidders continue to challenge the planned sale. The dispute ...
Getty Images files for bankruptcy as restructuring moves company private
Getty Images is entering court-supervised restructuring after abandoning its planned merger with Shutterstock amid heavy debt and rising competition from AI-generated imagery. The company says it ...
America’s Car-Mart explores sale amid liquidity and debt pressure
America’s Car-Mart is in talks on a potential sale as the subprime auto dealer seeks a path to keep operating under mounting financial strain. The discussions are focused on options that could ...
California secures $6 million 23andMe settlement over data breach claims
California is securing a $6 million payment in 23andMe's bankruptcy, closing the state's legal claims tied to a 2023 breach that exposed genetic and personal data from 6.9 million customers. The ...
Getty Images secures restructuring deal to go private
Facing pressure to reshape its balance sheet after a failed merger attempt, Getty Images is moving to cut debt, raise new capital and leave the public market. The plan includes fresh equity from ...
Sallie Mae borrower secures court payment plan after wage garnishment in student-loan dispute
Private student-loan collection risks are intensifying for some U.S. borrowers as repayment strains and litigation pressures build. Nurse Hannah Bates, 31, says a lawsuit by Sallie Mae led to ...
LIV Golf loses Rahm as restructuring enters bankruptcy court
LIV Golf is losing one of its biggest names as the breakaway circuit seeks to stabilize operations during Chapter 11 proceedings. Jon Rahm decides not to join the league's planned next phase after ...
AirBaltic plans workforce cuts across Baltic bases after bankruptcy filing
Latvian carrier airBaltic is preparing job cuts that could affect about 500 to 700 positions across its bases in Riga, Vilnius and Tallinn. The move comes as the airline advances a broad ...
Brightline Florida debt downgraded as restructuring and Chapter 11 filings deepen credit stress
Mounting balance sheet pressure at Brightline's Florida rail business is triggering deeper rating cuts across key parts of its capital structure. The action follows a restructuring support ...
U.S. Labor Department wins court order to appoint fiduciary for defunct Washington aerospace 401(k) plan
Former employees of a shuttered Arlington, Washington aerospace company are set to regain access to retirement savings after federal action on an abandoned 401(k) plan. The plan has been frozen ...
Apollo, Oaktree sue Optimum owner over U.S. telco asset restructuring
A legal fight over one of the biggest distressed debt situations in the U.S. telecom sector is intensifying as creditors press to recover value from Optimum Communications. The dispute centers on ...
Brightline files for Chapter 11 as Florida rail operator seeks to restructure debt
After years of weaker-than-expected ridership, Florida passenger rail operator Brightline has entered Chapter 11 to address nearly $6 billion in debt. The filing leaves daily service running while ...
NCLT Allahabad approves the insolvency resolution plan for Shandong Chunlong Group India
The resolution plan in the corporate insolvency resolution process of detergent powder manufacturer Shandong Chunlong Group India Pvt. Ltd. has received judicial approval. The order confirms the ...
Hut 8 wins Poolin Texas data center auction with $140 million bid
Bankrupt crypto miner Poolin is moving closer to selling two Texas data center sites after Hut 8 emerged as the top bidder in a court-supervised process. The offer for the Pyote and Tarbush ...
