The Hertz Corporation

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Case Number:

1:20-bk-11218

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

January 06, 2025
Giuliani's Held In Contempt, Terraform Founder Denies Fraud

A Manhattan federal judge held Rudy Giuliani in contempt over a $148 million defamation judgment, after the former New York City mayor cited memory lapses during questioning about the case. Terraform Labs founder Do Kwon was arraigned in New York and denied orchestrating a $40 billion fraud, with a follow-up hearing scheduled for Jan. 8. Celsius Network appealed a Delaware bankruptcy judge's decision to deny its amended $444.6 million claim against FTX.
January 03, 2025
Hertz Off The Hook For $337M Bond In Claim Recalculation Tiff

A Delaware bankruptcy judge said Hertz Corp. doesn't need to post a $337.4 million bond while she uses an appeals court decision on underpaid interest to recalculate a group of unsecured noteholders' claims, writing the request would alter Hertz's more than 3-year-old Chapter 11 plan and give the noteholders better treatment than other creditors.
September 23, 2024
Decline And Fall: Brand Empires That Hit Bankruptcy

When food container maker Tupperware filed for Chapter 11 in Delaware last week, disclosing more than $1 billion in liabilities and plans for a quick sale, it became the latest iconic brand to seek relief from financial woes in bankruptcy court, following in the footsteps of giants from Rite Aid to RadioShack.
September 18, 2024
Tupperware Hits Ch. 11, 3rd Circ. Says Hertz Owes $270M

This week saw a wave of new bankruptcy filings, including that of kitchen supply brand Tupperware, two restaurant chains based in Florida and a defunct California bank that catered to cryptocurrency users.
November 09, 2022
Make-Whole Disallowed As Interest Payment In Hertz Ch. 11

A Delaware bankruptcy judge ruled Wednesday that a $223 million make-whole premium owed by reorganized debtor Hertz Global for redeeming unsecured notes early is the same as unmatured interest and is disallowed under the U.S. Bankruptcy Code.
October 21, 2022
Navient Collections Halted, Mallinckrodt Faces $1.6B Suit

Navient Solutions is appealing a nationwide injunction barring it from collecting on certain student loans discharged through bankruptcy, Mallinckrodt creditors are suing for the return of $1.6 billion used to buy back shares pre-bankruptcy, and liquidators for crypto hedge fund Three Arrows Capital want to serve subpoenas via Twitter. This is the week in bankruptcy.
October 18, 2022
Wells Fargo Says 9th Circ. Decision Backs Hertz Note Demand

Wells Fargo Bank NA said a recent decision from the Ninth Circuit weighs in favor of a Delaware bankruptcy court reconsidering its request to be paid contractual interest on notes it issued to Hertz Global before its Chapter 11 case began.
June 10, 2021
Hertz Gets OK For Ch. 11 Plan Providing $1B To Stockholders

Car rental giant Hertz Global on Thursday gained approval for a Chapter 11 plan of reorganization returning $1 billion of value to shareholders, which a Delaware bankruptcy judge called "a remarkable result" about a year after the company had been staring down the edge of a liquidation cliff.
June 09, 2021
Hertz Noteholders Reach Deal On Ch. 11 Plan Objections

Hertz Co.'s second-lien noteholders told a Delaware bankruptcy judge they've reached a preliminary deal to drop their claim that the auto rental giant's Chapter 11 plan fails to give them the payments and rights their $350 million in notes entitle them to.
May 14, 2021
Hertz Swaps In New $6B Ch. 11 Plan Sponsor Package

Hertz Global Holdings coasted through a nearly uneventful, fist-pumping pitch for a new $6 billion Chapter 11 plan sponsor agreement in Delaware bankruptcy court on Friday, securing approval to move ahead with revised numbers and disclosures under a proposal that would cover in full all creditor claims.

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