AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains original content developed by AGG’s Bankruptcy, Creditors’ Rights, & Financial Restructuring attorneys.
Industry News
April 11, 2023 (Fortune)
Xclaim, a marketplace where debtors can sell bankruptcy claims for failed crypto companies, announced on Tuesday that it had raised $7 million in a funding round led by Josh Jones, a venture capitalist who founded one of the earlier Bitcoin exchanges.
April 11, 2023 (Variety)
Beleaguered multinational cinema operator, Cineworld says that it anticipates exiting the U.S.’s Chapter 11 bankruptcy system in the first half of this year.
April 10, 2023 (International Business Times)
Johnson & Johnson's renewed effort to resolve talc lawsuits through an $8.9 billion bankruptcy settlement must be dismissed as a "fraudulent scheme" that defies a court order rejecting the company's previous attempt to settle the litigation, according to a court filing from lawyers representing cancer victims.
April 10, 2023 (Yahoo! Finance)
Former executives of the bankrupt cryptocurrency exchange FTX failed to install appropriate financial controls in the company, which is complicating the asset recovery process, the restructuring team of the failed exchange said in a court filing dated on Sunday.
April 7, 2023 (The Business Journals)
Five years after the FDA approved the first-ever prescription software to treat substance use disorder, the company behind the treatment has filed for bankruptcy protection and is on the verge of shutting down.
April 6, 2023 (NPR)
The bankruptcy filing of Diamond Sports Group, owner of 19 regional sports networks across the country, means some baseball fans might not be able to watch their teams on TV.
April 5, 2023 (CNBC)
Bed Bath & Beyond announced Wednesday it is working with Hilco Global to get merchandise back on its shelves in the company’s latest effort to stay alive and avoid bankruptcy.
April 5, 2023 (Bloomberg)
Switzerland’s banking regulator said it considered putting Credit Suisse Group AG into bankruptcy before deciding on the takeover by UBS Group AG, as the risk of contagion was too great.
April 4, 2023 (The New York Times)
Virgin Orbit, a satellite launch company whose fortunes have sunk since one of its rockets failed to reach orbit in January, filed for bankruptcy protection in the United States on Tuesday.
April 3, 2023 (International Business Times)
U.S. judge on Monday approved Revlon Inc's reorganization plan, allowing the cosmetics maker to cut $2.7 billion from its debt and exit bankruptcy later this month.
April 2, 2023 (Bloomberg)
Boxed Inc., an online bulk retailer that thrived during the pandemic, filed for bankruptcy on Sunday.
