U.S. Bankruptcy Courts News and Legal Updates
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 ...
Air Baltic downgraded to default after Chapter 11 filing
Air Baltic enters a court-supervised restructuring process after seeking Chapter 11 protection in the U.S., a move that pushes its long-term issuer rating into default territory. The carrier says ...
S&P Global says positive credit rating actions continue to outpace downgrades
Credit rating trends remain tilted toward improvement this week, extending a six-week stretch in which upgrades exceed downgrades. The latest balance stands at 10 upgrades against seven ...
SVB court ruling sharpens liability focus in bank collapse
A recent court ruling adds detail to how Silicon Valley Bank's failed interest rate strategy contributed to its 2023 collapse and the fight over cash trapped at the lender. The decision matters as ...
Meritage Hospitality files for Chapter 11 as Wendy’s sales pressures weigh on franchisee
Persistent weakness at Wendy’s U.S. restaurants is now spilling into its franchise network, with Meritage Hospitality seeking court protection to restructure its finances. The company says it ...
LIV Golf bankruptcy filing puts Saudi-backed restructuring plan under pressure
After years of heavy spending to challenge the PGA Tour, LIV Golf is seeking Chapter 11 protection in New Jersey as it tries to preserve a revamped version of the league. The filing exposes how ...
Interpath seeks U.S. acquisition to expand restructuring and advisory business
Backed by new private equity owners, Interpath is pursuing a U.S. professional-services acquisition as it pushes to build a larger global advisory platform. The group sees a physical presence in ...
DermTech bankruptcy estate agrees to resolve Medicare false claims allegations for up to $5 million
DermTech’s bankruptcy proceedings now include a settlement over allegations that the skin cancer testing company billed Medicare for unreliable diagnostic tests. The resolution covers claims ...
Aston Martin creditors seek U.S. discovery over £550mn financing dispute
Aston Martin’s disputed July financing is drawing a new legal challenge as creditors owed £1.3bn seek information ahead of an expected suit in England. The move centers on a £550mn borrowing ...
The Enforcement Directorate arrested Jitesh Gupta in the Best Foods money laundering case
The investigation into the alleged money laundering case related to Best Foods has now reached the role of professional conduct in the corporate insolvency resolution process. The Enforcement ...
Trump weighs legal challenge to New York luxury second-home tax
A new surcharge on high-end secondary residences in New York City is drawing federal scrutiny after its approval in the state budget in May. President Donald Trump says he is assessing whether the ...
Verisk ordered to pursue AccuLynx acquisition in Delaware court ruling
A Delaware court ruling revives pressure on Verisk to complete its planned $2.35 billion purchase of roofing software company AccuLynx after the buyer said in late December that it was ending the ...
