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
5 years after bankruptcy, Toys R Us continues comeback with store inside Mall of America
November 14, 2023 (Yahoo! Finance)
Toys R Us is still trying to make a comeback following the chain's seeming demise five years ago – this time by opening its second brick-and-mortar location in the largest mall in the U.S.
J&J, 3M's Chap 11 Play in Talc, Earplug Mass Torts: Votes and Verdicts
November 14, 2023 (Bloomberg)
Johnson & Johnson, facing tens of thousands of lawsuits over allegations its talcum powder causes cancer, has twice attempted to use bankruptcy proceedings to reach global resolution of cases, and twice has failed.
Macy’s and JCPenny stores that will be closing in 2023: here are all the locations
November 13, 2023 (MSN.com)
The pandemic caused huge upheaval for companies across the US. As seen with the recent mass closures of Rite Aid stores, stores’ plans to restructure after the pandemic are running into trouble.
FTX Marks a Year in Bankruptcy. What We’ve Learned From Crypto Restructurings.
November 13, 2023 (The Wall Street Journal)
Collapsed cryptocurrency exchange FTX, the biggest casualty of the “crypto winter” last year, just hit the first anniversary of its bankruptcy filing.
WeWork seeks permission to begin canceling leases in bankruptcy
November 8, 2023 (Reuters)
WeWork will make its first U.S. bankruptcy court appearance on Wednesday, seeking to advance a restructuring proposal that could cut $3 billion in debt and shrink the company’s real estate footprint.
SAS Secures $505 Million Financing to Aid Restructuring
November 4, 2023 (U.S. News & World Report)
Scandinavian airline SAS secured an investment agreement with a consortium for restructuring aid of 13.2 billion Swedish crowns ($1.21 billion), with a loan from Castlelake replacing its previous debtor-in-possession financing by Apollo Global Management, the carrier said on Saturday.
Lumen Debt Restructuring Draws Ire From Left-Behind Creditors
November 2, 2023 (Yahoo! Finance)
A proposed deal to restructure one of the largest piles of US distressed debt is drawing ire from creditors who have been left out of the transaction.
Water Gremlin filed for Chapter 11 bankruptcy
November 1, 2023 (CBS News)
It's facing 95 civil lawsuits from people who are accusing the plant of causing cancer, even death, connected to excessive emissions of a toxic chemical.
