Bankruptcy News

AUSTIN, Texas--(BUSINESS WIRE)--Premier DataCom announced today that it has successfully emerged from Chapter 11 bankruptcy with Sundara Partners as its new majority owner....

DENVER--(BUSINESS WIRE)--Modivcare Inc. (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company providing a platform of integrated supportive care solutions focused on improving health outcomes, today announced that it has taken necessary and decisive action intended to strengthen its financial foundation while continuing to provide access to care, reduce costs, and improve outcomes for clients and members nationwide. Modivcare has filed for voluntary Cha...

HOUSTON, TX--(BUSINESS WIRE)--Linqto announced today that its voluntary Chapter 11 bankruptcy case will remain in the U.S. Bankruptcy Court in the Southern District of Texas. Judge Alfredo R. Perez rejected Interested Party Sapien Group USA, LLC’s motion to move venue to Delaware, stating that Linqto filing in Texas complied with U.S. Bankruptcy law. “Today’s ruling is a win for Linqto’s customers and other creditors,” said Samuel Schwartz, lawyer for Linqto and partner at Schwartz PLLC. “Remai...

CLEVELAND--(BUSINESS WIRE)--Everstream (the “Company”), a business-only fiber network, today announced that it has received approval from the U.S. Bankruptcy Court for the Southern District of Texas for the sale of substantially all of its operations to Bluebird Fiber (“Bluebird”), a regional provider of fiber-based connectivity solutions for businesses. Following a robust auction process, Bluebird emerged as the winner with a prevailing bid of $384.6 million. “This approval sets the stage for...

BAKERSFIELD, Calif.--(BUSINESS WIRE)--Global Clean Energy Holdings, Inc. (“GCE” or the “Company”), a vertically integrated renewable fuels company, announced today that the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”) has confirmed the Company’s Plan of Reorganization (the “Plan”). Noah Verleun, President and CEO of GCE, stated: “We are pleased to announce that the Court has confirmed our Chapter 11 plan, enabling the Company to successfully reorganize its capital stru...

MALVERN, Pa.--(BUSINESS WIRE)--LifeScan, Inc. (“LifeScan” or the “Company”), a world leader in blood glucose monitoring, today announced that it has entered into a Restructuring Support Agreement (“RSA”) with its first- and second-lien lenders and current equity sponsor, Platinum Equity, that will transform its balance sheet and position the Company for a stronger and more profitable future. As contemplated in the RSA, LifeScan expects to reduce more than 75% of its debt, which will enable the...

SAN FRANCISCO--(BUSINESS WIRE)--Marin Software Incorporated (“Marin,” or the “Company”), announced today that it will implement a proposed financial reorganization transaction (the “Transaction”) that is expected to bolster its financial position, better serve its customers around the world and effectively position the Company for long-term success in the AI age. Marin remains fully operational during the reorganization process and expects there will be no impact to its installed customer base...

BENSALEM, Pa.--(BUSINESS WIRE)--HCSG Provides Update On Client Restructuring, Reiterates 2025 Growth and Cash Flow Expectations...

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--LTC Properties Inc. (NYSE: LTC) (“LTC” or the “Company”), a real estate investment trust that primarily invests in seniors housing and health care properties, learned yesterday that Genesis Healthcare, Inc. (“Genesis”) filed for Chapter 11 bankruptcy. Affiliates of Genesis lease six skilled nursing centers in New Mexico (five) and Alabama (one) with a total of 782 beds under a master lease with LTC. The master lease matures on April 30, 2026 and provid...

KENNETT SQUARE, Pa.--(BUSINESS WIRE)--Genesis HealthCare, Inc., along with its subsidiaries, announced today that it has taken steps to implement a financial restructuring to secure the long-term delivery of its mission. This process is designed to ensure that the Company can continue operating in a seamless manner, while also allowing the Company to address its legacy liabilities associated with previously divested operations. To facilitate the Company's restructuring efficiently and with mini...