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
Honey Hunters owner files for bankruptcy
December 6, 2023 (Yahoo! News)
The company that owns the Gastonia Honey Hunters has filed for bankruptcy in Maryland, according to court documents.
J&J Says It Has Settled Some Talc Claims, Will Continue Bankruptcy Strategy
December 5, 2023 (U.S. News & World Report)
Johnson & Johnson's worldwide vice president for litigation said on Tuesday that the company has recently reached settlements with several law firms over their clients' claims that J&J talc products caused cancer.
Popular travel retailer company files Chapter 11 bankruptcy
December 5, 2023 (Yahoo! Finance)
The company plans to reorganize and fix its finances, but survival is not guaranteed once a bankruptcy court gets involved.
SmileDirectClub Founders Weigh Deal to Avert Firm’s Liquidation
December 5, 2023 (Yahoo! Finance)
SmileDirectClub Inc. is in talks with its founders and creditors about a plan to save the once high-flying dental aligner company from liquidation.
Trucking Firm XPO to Buy Bankrupt Yellow's Service Centers for $870 Million
December 5, 2023 (U.S. News & World Report)
Trucking company XPO Inc won a bid to buy 28 service centers of bankrupt Yellow Corp for $870 million in a closely watched auction of the nearly 100-year-old firm's assets.
Rite Aid to close another Sacramento pharmacy amid bankruptcy process
December 4, 2023 (Yahoo! News)
Rite Aid plans to close more locations across California, including one in Sacramento and two in the Tahoe region.
SCOTUS will hear a case involving Purdue Pharma and how corporations escape bankruptcy
December 3, 2023 (NPR)
A case at the heart of America's deadly opioid crisis goes before the U.S. Supreme Court this week. It involves Purdue Pharma and its owners, the Sackler family, and could set a major precedent shaping the way wealthy people and corporations use bankruptcy to shield themselves from lawsuits. NPR's addiction correspondent Brian Mann has been following the case.
SpaceX Is Buying a Company That Makes Parachutes for Spacecraft
December 1, 2023 (Yahoo! News)
SpaceX has quietly swooped in to buy a venerable parachute vendor on the verge of bankruptcy, The Information reports, in a rare acquisition by the launch provider as it gears up to play a pivotal role in NASA's return to the Moon.
