Chapter 11 Bankruptcy

Lucira Health Inc (NASDAQ: LHDX) filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.  The company further disclosed that it intends to pursue a sale of its business under Section 363 of the...

COVID-19 drug and vaccine developer Sorrento Therapeutics Inc (NASDAQ: SRNE) is filing for bankruptcy following a lengthy legal dispute. The biotech submitted its Chapter 11 filing, per an SEC filing, after losing an arbitration battle to billionaire Patrick Soon-Shiong's...

Coin Cloud, a Las Vegas-based company that operated more than 4,000 Bitcoin ATMs in the U.S. and Brazil, declared Chapter 11 bankruptcy. The court filing estimated the company's liabilities to be between $100 million and $500 million, with Genesis Global Trading, a subsidiary of...

Invacare Corporation (NYSE: IVC) entered into a “Restructuring Support Agreement” (RSA) with substantially all its debt holders.  It includes its term loan lender, all holders of convertible senior secured notes, and holders of most convertible senior unsecured...

Clovis Oncology Inc (NASDAQ: CLVS) has voluntarily initiated a Chapter 11 proceeding in the U.S. Bankruptcy Court and will seek to sell its assets through a court-supervised sales process. The Debtors have filed various "first day" motions with the Bankruptcy Court...

The Independent examiner appointed for Celsius Network LLC's chapter 11 case said that the company failed to set up proper accounting and operational controls. The examiner found that Celsius hadn't developed a separate infrastructure for the custody program, which it started...

Some investors have invested in Altria Group Inc (NYSE: MO)- backed Juul Labs Inc to stave off the proposed bankruptcy it had been preparing amid a dispute with the FDA over whether its products can remain on the U.S. market. With the capital injection, Juul said it...

Altria Group Inc (NYSE: MO)-backed Juul Labs Inc is reportedly in talks with top-notch investors, including Nick Pritzker and Riaz Valani. They are considering putting money into the company to potentially stave off a bankruptcy filing. Messrs. Pritzker and Valani were early...

Bankrupt cryptocurrency lending firm Voyager Digital Ltd. (OTC: VYGVQ) has sought creditors' approval for its $1.42 billion sale to cryptocurrency exchange FTX, after securing an initial court clearance. U.S. Bankruptcy Judge Michael Wiles said that as...

Retailer Bed Bath & Beyond (NASDAQ: BBBY) has been one of the bigger stock storylines of 2022. The popular stock that has been labeled among the “meme stocks” saw strong interest after GameStop Corporation (NYSE: GME) Chairman Ryan Cohen accumulated a stake in the company. The...

British cinema chain Cineworld Group PLC (OTC: CNNWF) is expected to file a chapter 11 (bankruptcy) petition in the U.S. and will follow suit with an insolvency proceeding in the U.S., the Wall Street Journal reported. Law firm Kirkland & Ellis LLP and consultants from...

Adam Aron, CEO of the world’s biggest chain of theaters - AMC Entertainment Holdings Inc (NYSE: AMC), disclosed Tuesday that the company had raised $200 million in funding, but the proceeds were still $550 million short of the targeted $750 million threshold, reports CNBC...

The world’s biggest chain of theaters - AMC Entertainment Holdings Inc (NYSE: AMC) is mulling options for respite from debt, that includes potential bankruptcy, reports Bloomberg. The cinema chain is still reeling from the aftermath of the pandemic outbreak and lockdown measures, which has...

Drug manufacturer Mallinckrodt PLC (NYSE: MNK) disclosed Monday that it has voluntarily initiated Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court to restructure its operations and pare down debt. Mallinckrodt becomes the third major opioid maker to seek bankruptcy protection to...