Bankruptcy News

STAMFORD, Conn.--(BUSINESS WIRE)--Purdue Pharma L.P. (“Purdue”) today announced that its Chapter 11 Plan of Reorganization (“Plan”) received support from more than 99% of voting creditors, based on preliminary voting results. The votes were calculated by Kroll, Purdue’s court-authorized solicitation and balloting agent. “The high level of support for this Plan is gratifying after years of intense work with our creditors to craft a settlement that maximizes value for victims and communities and...

SAN DIEGO--(BUSINESS WIRE)--Less than three weeks after the Tricolor Holdings Chapter 7 bankruptcy filing, Vervent Inc. has assumed successor servicing responsibilities for the majority of Tricolor Holdings' approximate 100,000 subprime auto loans. With the company’s robust payment infrastructure, all consumer payments have been processed without interruption since day one. Before the Tricolor Holdings collapse, Vervent was designated as backup servicer by client lenders and investors, a role d...

NEW YORK & MIAMI--(BUSINESS WIRE)--The Blockchain Recovery Investment Consortium (BRIC) announces Tether has paid $299.5 million to the Celsius Network bankruptcy estate....

COLUMBUS, Ohio--(BUSINESS WIRE)--Navidea Biopharmaceuticals, Inc. (“Navidea” or the “Company”), a biopharmaceutical company focused on the development of precision immunodiagnostic agents and immunotherapeutics, today announced that it filed a voluntary petition for relief under Chapter 11, Subchapter V of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the “Court”) on October 1, 2025. The filing is intended to enable the Company to pursue an orderly...

NEW YORK--(BUSINESS WIRE)--This announcement is made on behalf of certain holders or beneficial owners, or investment managers or investment advisors on behalf of certain entities or discretionary accounts that are holders or beneficial owners (each, a “Creditor Party” and collectively, the “Creditor Parties”) of certain securities issued by Oi S.A – Under Judicial Reorganization (collectively, with its affiliates, “Oi”, or the “Company”) to satisfy disclosure obligations under certain confiden...

ROCHESTER HILLS, Mich.--(BUSINESS WIRE)--First Brands Group, LLC (“First Brands” or the “Company”), a leading global supplier of aftermarket automotive parts, today announced that the Company has received approvals from the United States Bankruptcy Court for the Southern District of Texas (the “Court”) for its “First Day” motions related to the Company’s chapter 11 cases for its U.S. operations. The Court granted approval to immediately access $500 million of the $1.1 billion in debtor-in-posse...

DALLAS--(BUSINESS WIRE)--At Home Group Inc. (“At Home” or the “Company”) today announced that the U.S. Bankruptcy Court for the District of Delaware (the “Court”) has confirmed At Home’s Plan of Reorganization (the “Plan”). At Home expects to complete the transactions set forth in the Plan and emerge from its court-supervised restructuring in the coming weeks. “We are pleased to have reached this important milestone in our efforts to position At Home for future success,” said Brad Weston, Chief...

BOCA RATON, Fla.--(BUSINESS WIRE)--Anthology (the “Company”), a leading software as a service (“SaaS”) educational technology provider, announced today that it has initiated a strategic transformation to position its edtech solutions for long-term growth. Backed by a group of investors led by affiliates of funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and Nexus Capital Management LP (“Nexus”), Anthology will align its focus on its core Teaching & Learning Business (comprised...

DURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide technologies, today announced that in connection with its emergence from the Chapter 11 process, it has appointed Anthony M. Abate, Mike Bokan, Eric Musser, Hong Q. Hou, and, pending certain regulatory approvals, Aris Bolisay, to its Board of Directors (the “Board”). Anthony M. Abate will succeed Tom Werner as Chairman of the Board. The new Board members will join current Board members, Mark Jensen a...

ROCHESTER HILLS, Mich.--(BUSINESS WIRE)--First Brands Group, LLC (“First Brands” or the “Company”), a leading global supplier of aftermarket automotive parts, today announced that the Company and certain of its affiliates have filed voluntary petitions for chapter 11 relief in the United States Bankruptcy Court for the Southern District of Texas (the “Court”) to stabilize its business operations and facilitate a value-maximizing transaction. To support business continuity, an ad hoc group of cr...