Bankruptcy News

ST. LOUIS--(BUSINESS WIRE)--Benson Hill, Inc. today announced that it and its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code....

STAMFORD, Conn.--(BUSINESS WIRE)--Purdue Pharma L.P. (“Purdue”) today filed a Chapter 11 Plan of Reorganization (the “Plan”) and related disclosure statement with the United States Bankruptcy Court for the Southern District of New York. Assuming full creditor participation, the Plan will deliver to creditors more than $7.4 billion of cash, subject to certain reserves, to compensate victims and abate the opioid crisis. There will also be substantial value created by the continued development and...

LOS ANGELES--(BUSINESS WIRE)--F21 OpCo, LLC (“F21 OpCo” or the “Company”), operator of Forever 21 stores and licensee of the Forever 21 brand in the United States, today announced that it and certain of its U.S. subsidiaries have entered into a Plan Support Agreement (“PSA”) with the Company’s secured lenders and commenced voluntary chapter 11 cases in the United States Bankruptcy Court for the District of Delaware (the “Court”). Through their chapter 11 cases, the Company will implement an ord...

SUNNYVALE, Calif.--(BUSINESS WIRE)--Mitel Networks Corporation, (“Mitel” or “the Company”), a global leader in business communications, today announced it has entered into an agreement with an ad hoc group of its senior lenders (the “Ad Hoc Group”), certain junior lenders, and other key stakeholders to recapitalize its debt in a manner that best positions the Company to optimize its global operations and drive profitable and predictable growth. Right-sizing Mitel’s capital structure will enable...

BRISBANE, Calif.--(BUSINESS WIRE)--CUTERA, INC., (“Cutera” or “the Company”), a leading provider of aesthetic and dermatology solutions, today announced that it is initiating a restructuring transaction with the support of a group of existing lenders, representing approximately 74% of the Company’s notes, to strengthen its balance sheet and position Cutera for long-term success. Through the transaction, Cutera will reduce its debt by nearly $400 million, or over 90%, and raise $65 million in ne...

NEW YORK--(BUSINESS WIRE)--Amini LLC has won another $2.8 million for the Chapter 7 Trustee of TransCare from Patriarch Partners Agency Services LLC (PPAS), a lending entity affiliated with Lynn Tilton. In a written decision dated February 5, 2025, Bankruptcy Judge David Jones determined that the Trustee was entitled to an additional $2.8 million in legal fees from PPAS under New York Debtor Creditor Law § 276-a because PPAS had engaged in an actual fraudulent transfer. The underlying fraudulen...

NEW YORK--(BUSINESS WIRE)--The steering committee of the ad hoc group of term loan lenders (the “Lenders”) of the $1.5 billion Term Loan B (the “Term Loans”) provided to BYJU’S Alpha, Inc. (“BYJU’s Alpha”), a Delaware special purpose financing vehicle established by BYJU’S to receive proceeds of the Term Loans, today announced that the Honorable Judge John T. Dorsey of the United States Bankruptcy Court for the District of Delaware (the “Court”) issued an order granting summary judgment (the “O...

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--RenovaCare Inc. (OTC: RCAR): IN THE EIGHTH JUDICIAL DISTRICT COURT OF THE STATE OF NEVADA IN AND FOR CLARK COUNTY PETER RIGSBY, Derivatively on Behalf of RENOVACARE, INC.,   Plaintiff, v.   HARMEL S. RAYAT, KAIYO NEDD, ALAN L. RUBINO, THOMAS BOLD, ROBERT W. COOK, STEPHEN YAN-KLASSEN, and KENNETH KIRKLAND,   Defendants,   -and-   RENOVACARE, INC., a Nevada Corporation,   Nominal Defendant.   ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) Case No. A-22-850369-C   Dept....

NORTH VENICE, Fla.--(BUSINESS WIRE)--Tervis, the nationally loved and family-owned drinkware company founded in 1946, announced it has exited Chapter 11 bankruptcy with all litigation dismissed and debt resolved. The reorganization took a little more than five months; the firm entered Chapter 11 on September 6, 2024. The confirmation hearing to exit Chapter 11 took place at the Tampa Federal Courthouse on Tuesday, February 11 at 9:30 a.m. “The business decision to reorganize was to better posit...

ATLANTA & MONTGOMERY, Ala.--(BUSINESS WIRE)--Jackson Healthcare®, one of the nation’s premier providers of healthcare workforce services, today announced that its parent company, Jackson Investment Group, will provide a debtor in possession (DIP) loan to Jackson Hospital & Clinic, enabling it to remain open to serve the Montgomery, Alabama community as it undergoes Chapter 11 bankruptcy and reorganization proceedings. While Jackson Healthcare, Jackson Investment Group, and Jackson Hospital...