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How Spirit Airlines Landed In Bankruptcy Court
Ultra-low-cost airline Spirit has always been more susceptible to inflationary pressures than its costlier competitors, but its failed merger earlier this year with JetBlue left it drifting toward a prearranged Chapter 11 on Monday to trim its $3.6 billion in funded debt.
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Catching Up With New Bankruptcy Case Action
Spirit Airlines filed for Chapter 11 bankruptcy, citing $3.6 billion in funded debt and unveiling a preapproved restructuring plan to convert $795 million of debt into equity. Dormify, Cosmed Group and PetroQuest Energy also sought bankruptcy protection, largely due to litigation-related challenges. Meanwhile, companies like Swedish debt collector Intrum and heat sealing equipment manufacturer SWC Industries blamed their financial struggles on rising interest rates, inflation, and broader macroeconomic pressures.
The Onion Wants To Buy Infowars, Diamond Sports' Plan OK'd
Satirical news outlet The Onion emerged as the winner of a Chapter 7 auction for Alex Jones' Infowars show, Diamond Sports clinched a Chapter 11 plan approval and new bankruptcy filings by both businesses and consumers have grown by 16% over the past year.
How Spirit Airlines Landed In Bankruptcy Court
Ultra-low-cost airline Spirit has always been more susceptible to inflationary pressures than its costlier competitors, but its failed merger earlier this year with JetBlue left it drifting toward a prearranged Chapter 11 on Monday to trim its $3.6 billion in funded debt.
Catching Up With New Bankruptcy Case Action
Spirit Airlines filed for Chapter 11 bankruptcy, citing $3.6 billion in funded debt and unveiling a preapproved restructuring plan to convert $795 million of debt into equity. Dormify, Cosmed Group and PetroQuest Energy also sought bankruptcy protection, largely due to litigation-related challenges. Meanwhile, companies like Swedish debt collector Intrum and heat sealing equipment manufacturer SWC Industries blamed their financial struggles on rising interest rates, inflation, and broader macroeconomic pressures.
The Onion Wants To Buy Infowars, Diamond Sports' Plan OK'd
Satirical news outlet The Onion emerged as the winner of a Chapter 7 auction for Alex Jones' Infowars show, Diamond Sports clinched a Chapter 11 plan approval and new bankruptcy filings by both businesses and consumers have grown by 16% over the past year.
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Large Cap More
A Texas bankruptcy judge on Tuesday approved embattled medical system CareMax's bid to borrow a share of the $122 million in Chapter 11 financing its senior lenders have extended to help fund the company's ope... (more story)
A Delaware bankruptcy judge signed off Tuesday on procedures that hardware store supplier True Value proposed for ending its leases and contracts, as the company prepares to close on a Chapter 11 sale of the b... (more story)
Johnson & Johnson's talc unit called on a Texas bankruptcy court to sanction a Beasley Allen Law Firm attorney for "unilaterally" deciding not to attend a scheduled deposition in the company's bankruptcy case.
Right-wing media fabulist Alex Jones asked a Texas bankruptcy judge to stop the sale of his Infowars website to satirical news publisher The Onion, arguing that the winning bid violated the court's bidding procedures order.
The Alex Jones-affiliated backup Chapter 7 auction bidder for Jones' right-wing website Infowars asked a Texas bankruptcy judge Monday to disqualify the winning bid from The Onion, a satirical news website, ar... (more story)
A Texas bankruptcy judge said he would approve the bidding procedures for the assets of prison healthcare provider Wellpath and set a December auction for its behavioral health division, Recovery Solutions.
A Stockholm-based debt collection service provider told a Texas bankruptcy court Monday that a two-prong restructuring plan the company proposed is the only way to fairly address upcoming debt maturities and r... (more story)
A New York bankruptcy judge on Monday approved an $88 million insurance settlement for Long Island's Roman Catholic diocese after being assured that sexual abuse claimants who pass up a payout from the diocese... (more story)
A Texas bankruptcy judge Monday approved the disclosure statement for fuel refiner Vertex Energy's Chapter 11 plan, which could pave a path for recovery to unsecured creditors after a global settlement was rea... (more story)
Several units of Brazilian petrochemical producer Unigel Group have urged a New York bankruptcy court to recognize their overseas bankruptcy plans to address roughly $810 million of debt, saying factors includ... (more story)
Mid Cap More
A California judge on Tuesday asked bankrupt San Jose hotel owner SC SJ Holdings for more information about who owns the cash management account that the debtor wants to use to keep operating during its second... (more story)
Two of Rudy Giuliani's attorneys doubled down Tuesday on their attempt to withdraw as counsel in the $148 million defamation case against him, saying in a redacted letter that the two Georgia poll workers hopi... (more story)
A Delaware bankruptcy judge Tuesday gave truck rental business Fluid Market Inc. permission to take out Chapter 11 financing and accept a baseline bid for its assets after hearing the company's unsecured credi... (more story)
Dormify Inc., a retailer that sells college gear and decor for dorms, filed for bankruptcy in Delaware, estimating between $10 million and $50 million in debt less than a week after a Pennsylvania federal cour... (more story)
Publicly traded biopharmaceutical company Seelos Therapeutics Inc. sought Chapter 11 protection in New York on Saturday, citing between $10 million and $50 million in estimated liabilities.
Two days after Rudy Giuliani's lawyers asked a federal judge to allow them to withdraw from representing him in a pair of cases from former Georgia poll workers seeking to collect a $148 million defamation awa... (more story)
A Texas bankruptcy judge conditionally signed off Friday on the disclosure statement for Vroom Inc.'s Chapter 11 plan, after the defunct used car sales and financing company agreed to revise language regarding... (more story)
A Delaware bankruptcy judge Friday granted interim permission for oil and gas company PetroQuest Energy Inc. to access $847,500 of new money financing from its lenders as it plans to sell its assets in East Texas.
A Colorado federal judge on Friday struck a motion to transfer a putative class action suit against a bankrupt truck rental company to the Delaware court handling the business's Chapter 11 case, saying the com... (more story)
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