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
Genesis Health Approved to Sell Nursing Home in $1B Bankruptcy Deal
Bankrupt Genesis Health received court approval on Tuesday to sell its nursing homes to an outside buyer for $1 billion, just over a month after a U.S. bankruptcy judge rejected a previous offer from company insiders. U.S. Bankruptcy Judge Stacey Jernigan approved the sale of the company's 175 nursing homes to NewGen Health, a California-based healthcare provider, at a court hearing in Dallas, Texas, bankruptcy court.
(Source: Reuters | January 20, 2026)
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Saks Global Files for Bankruptcy After Neiman Marcus Takeover Leads to Financial Collapse
High-end department store conglomerate Saks Global filed for bankruptcy protection in one of the largest retail collapses since the pandemic, barely a year after a deal intended to create a luxury powerhouse brought Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus under the same roof. The filing cast uncertainty over the future of the iconic U.S. luxury fashion brand, though Saks said that its stores would remain open for now after it finalized a $1.75 billion financing package and appointed a new chief executive.
(Source: Reuters | January 14, 2026)
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Oracle Sued by Bondholders Over Losses Tied to AI Buildout
Oracle was sued by bondholders who say they suffered losses because the company chaired by billionaire Larry Ellison failed to disclose it needed to sell significant additional debt to build out its artificial intelligence infrastructure. The proposed class action was filed in a New York state court in Manhattan on behalf of investors who bought $18 billion of notes and bonds that Oracle issued on Sept. 25, two weeks after Oracle announced a $300 billion, five-year contract to supply OpenAI with computing power.
(Source: Reuters | January 14, 2026)
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Brett Kavanaugh Breaks With Supreme Court Over Bankruptcy Loophole Case
Supreme Court Justice Brett Kavanaugh would have agreed to hear a bankruptcy case that the majority of justices declined to take up. In an order released by the Supreme Court, a petition for a writ of certiorari was denied in The Hertz Corporation v. Wells Fargo Bank. Attorneys for the U.S. government also weighed in on the case, arguing that the Supreme Court should decline to grant the petition for a writ of certiorari.
(Source: Newsweek | January 13, 2026)
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Bankruptcy Filings Soar in 2025
The number of companies and businesses filing for bankruptcy protection soared last year, as a precarious economic climate continued to weigh on both boardrooms and household budgets. According to new data from bankruptcy information services platform Epiq AACER, cited by the American Bankruptcy Institute, total filings rose 11 percent to 565,759 in 2025.
(Source: Newsweek | January 7, 2026)
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U.S. Liquor Industry Hit by Multiple Bankruptcies
Another American spirit company has filed for bankruptcy protection, joining a yearlong string of Chapter 11 filings for the industry as it grapples with policy changes, international retaliation and a general decline in domestic alcohol demand. Ohio-based A.M. Scott Distillery filed for Chapter 11 protection with the bankruptcy court for the Southern District of Ohio.
(Source: Newsweek | December 24, 2025)
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