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Creditors Chapter 11

Seward & Kissel LLP

Bonvoy-age Sonder and Purdue Conphirmation

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Airbnb rival Sonder Holdings to file for bankruptcy after Marriott ends partnership | Business Insider - Guests were ejected from ongoing bookings as Marriott made the announcement on Sunday....more

Goodwin

Outnumbered, Not Outplayed: Minority Lenders Successfully Challenge Exclusive Backstop Agreement on Equal Treatment Grounds in...

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The District Court for the Southern District of Texas (the “District Court”) recently issued a ruling in the chapter 11 cases of ConvergeOne Holdings, Inc. and its affiliated debtors (together, the “Debtors”) prohibiting the...more

Falcon Rappaport & Berkman LLP

Bankruptcy Court Grants In Rem Relief to Creditor, Strengthening Protections Against Serial Bankruptcy Filers

In a recent decision that reinforces creditor protections against serial bankruptcy filers, the United States Bankruptcy Court for the Eastern District of California granted in rem stay relief under Section 362(d)(4) of the...more

DarrowEverett LLP

Navigating FCC Rules in Broadcast Lending and Collateral Structuring

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Under the Communications Act of 1934, as amended (the "Communications Act"), a Federal Communications Commission (the "FCC") broadcast license cannot be owned or directly encumbered by security interests. Still, lenders...more

White and Williams LLP

Rite Aid Files a Thousand Preference Actions

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Rite Aid is now in its second bankruptcy in less than two years. Despite the failed reorganization efforts of the first bankruptcy, nearly a thousand complaints were recently filed in the Bankruptcy Court for the District of...more

Fox Rothschild LLP

Defining the Boundaries of Consensual Third-Party Releases – Tehum/YesCare Case Study

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In 2024, the Supreme Court, in Harrington v. Purdue Pharma L.P., 603 U.S. 204 (2024), held that the Bankruptcy Code does not authorize nonconsensual third-party releases in Chapter 11 reorganization plans, meaning affected...more

Seward & Kissel LLP

Lacking Merit and First Watch

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Dr. Phil Loses Trial Over His Media Startup’s Bankruptcy | The Hollywood Reporter - The case will proceed as a Chapter 7 liquidation after a U.S. bankruptcy judge rejected McGraw’s bid to keep it in Chapter 11....more

Troutman Pepper Locke

How Are Shopping Center Leases Treated in Bankruptcy? - Creditor’s Rights Toolkit

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Section 365(b)(3) of the Bankruptcy Code provides special protections for landlords of shopping center leases, which often come into play when a tenant-debtor selling its assets seeks to assume and assign a lease to a...more

Cadwalader, Wickersham & Taft LLP

Happy Halloween From Scooby Boo!! October 2025 - District Court in Houston Further Clarifies “Equal Treatment” Rule, Supporting...

On September 25, 2025, the U.S. District Court for the Southern District of Texas overturned the Bankruptcy Court's confirmation of ConvergeOne's chapter 11 plan for violating the Bankruptcy Code’s “equal-treatment” rule. ...more

Falcon Rappaport & Berkman LLP

Commercial Bankruptcy Filings Surge in July 2025

Newly released data shows a significant rise in bankruptcy filings across the U.S., with commercial businesses seeing some of the steepest increases....more

Offit Kurman

Global Capital, Local Law: Navigating the Risks of U.S. Bankruptcy

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When raising capital in the U.S., owners and directors of foreign companies have to be cognizant of how restructuring can be used by creditors to displace management and shareholders. A recent decision by the U.S. District...more

Seward & Kissel LLP

Sub-Prima Lender, The Heritage Club, and Big Headache

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Subprime lender PrimaLend Capital Partners files for bankruptcy protection | Reuters - Reports from Bloomberg News had revealed that the company’s creditors were going unpaid for months....more

Shumaker, Loop & Kendrick, LLP

US Column: A Tutorial For Vendors Dealing With Insolvent Customers

On 5 May 2025, Rite Aid filed its second Chapter 11 proceeding less than 2 years after its first. Rite Aid is the 3rd largest pharmacy or “drug store” chain in the US, with over 2000 stores before its Chapter 11 filing. It’s...more

Hogan Lovells

Federal Court limits LME tactic in Chapter 11 context: ConvergeOne Holdings

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On September 25, 2025, Judge Andrew Hanen of the United States District Court for the Southern District of Texas reversed the bankruptcy court’s confirmation of ConvergeOne Holdings Inc.’s prepackaged Chapter 11 plan. The...more

Seward & Kissel LLP

The Sum of Its (Car) Parts and Whiskey Rebellion

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First Brands CEO James resigns amid bankruptcy process; turnaround expert in charge | Reuters - Newly instated Chief Restructuring Officer Charles Moore has been positioned at the company since September....more

Troutman Pepper Locke

What Issues Exist for a Landlord When a Commercial Tenant Files for Bankruptcy? - Creditor’s Rights Toolkit

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When a commercial tenant files for bankruptcy, it can present a complex array of challenges for a landlord. This article will provide insight into the implications of a tenant’s bankruptcy for a landlord, and how the landlord...more

Cadwalader, Wickersham & Taft LLP

District Court in Houston Further Clarifies “Equal Treatment” Rule, Supporting “Minority” Creditors in ConvergeOne Bankruptcy

On September 25, 2025, the U.S. District Court for the Southern District of Texas overturned the Bankruptcy Court's confirmation of ConvergeOne's chapter 11 plan for violating the Bankruptcy Code’s “equal-treatment” rule. ...more

Hogan Lovells

The Delaware Two-Step doesn’t work either

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The takeaway is that parties seeking to attempt a Delaware Two-Step—relying on a divisive merger statute that is even less company-friendly than Texas’s, and even with arguably more favorable facts—will fare no better than...more

Nelson Mullins Riley & Scarborough LLP

Small Wonder: AI and Common Bankruptcy Questions

As a kid growing up in the 1980s, I was exposed to legendary, cutting-edge artificial intelligence, such as KITT from Knight Rider, C-3PO and R2-D2 from Star Wars, Vicki from Small Wonder, and, of course, the unforgettable...more

Seward & Kissel LLP

Feeling Irregular, Mega Man, and Going For a DIP

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First Brands files for bankruptcy, revealing billions of dollars in liabilities | Reuters - First Brands bankruptcy probe investigating financing irregularities related to invoices | Reuters - First Brands obtains...more

Ropes & Gray LLP

Everything’s Bigger in Texas, but Not the Backstop Fees: ConvergeOne and Section 1123(a)(4)

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In what may be an interesting new trend, yet another senior court within the Fifth Circuit Court of Appeals has issued an opinion with the potential for serious disruption to previously accepted market practice. On September...more

J.S. Held

The Case for Out-of-Court Winddowns

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When a business faces insolvency, the path forward is rarely straightforward. Should the company file Chapter 11 in hopes of reorganizing? Should it liquidate under Chapter 7? Would an assignment for the benefit of creditors...more

McDermott Will & Schulte

When insureds and intermediaries file for bankruptcy: What insurers should know

Recent economic news reports have highlighted increasing inflation rates, rising unemployment numbers, and growing consumer credit delinquencies. Other factors, including medical and student loan debt, may add to the...more

Proskauer Rose LLP

District Court Rejects Exclusive Backstop in Chapter 11 Plan

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A Texas district court ruling late last week could reshape the landscape of Chapter 11 restructurings by striking down exclusive backstop agreements as violating the Bankruptcy Code’s equal-treatment rule....more

Cornerstone Research

Trends in Large Corporate Bankruptcy and Financial Distress: Executive Summary

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The elevated pace of large corporate bankruptcy filings that began in early 2023 has persisted over the last 12 months (2H 2024–1H 2025) and even increased over the prior year. The most common reported drivers have been high...more

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