The high court left untouched two appellate rulings ordering solvent companies to pay premiums and interest to creditors despite filing for chapter 11.
It is often said that investors have short memories. They may not be short enough for the founders of a new crypto exchange.
Lawsuit alleges that little due diligence was done in the acquisition of a business now getting offers no higher than $1 million.
Troubled retailers that stayed alive thanks to heady consumer spending during the pandemic are now showing signs of distress, filing for bankruptcy at the highest rate since 2020 and closing hundreds of stores.
NEWSLETTERS
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Biggest gainers and losers among high-yield bonds and widely-quoted syndicated loans.
High-Yield Bonds
| BOND | % CHANGE |
|---|---|
| Mallinckrodt International Finance S.A. 10.0% due 04/15/25 | 9.251% |
| Wanda Properties International Co. Limited 7.25% due 01/29/24 | -14.35% |
Leveraged Loans
| LOAN | % CHANGE |
|---|---|
| McAfee/Magenta 12/22 TL | 7.54% |
| Genesis Care 3/20 (EUR) Cov-Lite TLB | -17.62% |
Source: S&P Global Market IntelligenceFULL TABLE
Filings & Retentions
A list of some new chapter 11 bankruptcy filings made during the last week.
This is a summary of a request from National CineMedia to hire Porter Hedges LLP co-counsel, filed May 8 with the U.S. Bankruptcy Court in Houston.
This is a summary of a request from SiO2 Medical Products to hire Kirkland & Ellis as counsel, filed April 24 with the U.S. Bankruptcy Court in Wilmington, Del.
This is a summary of a request from the Official Committee of Unsecured Creditors of Boxed Inc. to hire Fox Rothschild LLP as counsel, filed May 4 with the U.S. Bankruptcy Court in Wilmington, Del.
A list of some new chapter 11 bankruptcy filings made during the last week.