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    Bankruptcy

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    • Tuesday, 12 September, 2023
      FTX Trading Ltd
      FTX update, Alameda P&L edition

      It’s a doozy

    • Tuesday, 29 August, 2023
      Unhedged
      The loan with the 545% interest rate  Premium content

      Aggressive tactics are seeping into bankruptcy financing

    • Wednesday, 23 August, 2023
      LexUS opioid epidemic
      Mallinckrodt: legal rejig may slash $1.1bn from opioid victims’ trust Premium content

      Drug producer’s prospects are poor enough that its reset enterprise value is just $3bn

      Homeless people are seen on streets of  Kensington, Philadelphia
    • Friday, 18 August, 2023
      Evergrande Real Estate Group
      Chinese developer Evergrande files for US bankruptcy protection

      Property group’s 2021 bond default triggered sector-wide liquidity crisis in China

      A housing complex built by Evergrande in Beijing
    • Tuesday, 15 August, 2023
      Apollo Global Management LLC
      Apollo calls off Yellow bankruptcy manoeuvres with $500mn loan sale

      Investor cuts exposure to failed US trucking company after jockeying over debtor-in-possession financing

      Yellow trucks at a terminal in Orlando, Florida
    • Thursday, 10 August, 2023
      Purdue Pharma LP
      Supreme Court halts $6bn Purdue opioid settlement in blow to Sacklers

      Justices will consider whether the law permits the waiver of future claims against parties not in bankruptcy

      A pharmacist holds a bottle of OxyContin
    • Monday, 7 August, 2023
      Transport
      US trucker Yellow files for bankruptcy and aims to repay federal loan

      Loss of 30,000 jobs comes as trucking industry contends with softer shipping volumes and rising costs

      Yellow Corporation trucks sit idle at a company facility in California
    • Monday, 7 August, 2023
      LexYRC Worldwide Inc
      Yellow: strike threat alone cannot explain haulier’s bizarre bankruptcy Premium content

      Group’s projections make a wind-down rather than restructuring a perplexing choice

      Yellow Corporation trucks sit idle at a company facility in California
    • Monday, 31 July, 2023
      LexJohnson & Johnson Co Inc
      Johnson & Johnson: second talc bankruptcy dismissal hits share price Premium content

      US courts resist financial engineering as fears grow that litigation could continue for years.

      Johnson’s Baby Powder: the J&J subsidiary LTL has been found ‘not sufficiently financially distressed to avail itself of bankruptcy’.
    • Tuesday, 27 June, 2023
      FTX Trading Ltd
      One question remains about FTX customer funds

      How exactly were customer funds kept separate (or not separate) at FTX.US?

    • Tuesday, 27 June, 2023
      Lordstown Motors
      Lordstown Motors files for bankruptcy protection

      Struggling automaker accuses Taiwanese group Foxconn of reneging on commitments

      A sign reading ‘Ride with Lordstown’ at the company’s headquarters
    • Tuesday, 20 June, 2023
      FTX Trading Ltd
      FTX bankruptcy ‘on track to be very expensive’ as fees top $200mn

      Court-appointed examiner says lawyers and advisers have billed millions as they sort through crypto exchange’s ‘wreckage’

      FTX sign on building
    • Monday, 19 June, 2023
      Accounting & Consulting services
      PwC and KPMG drawn deeper into Brazilian retailer’s accounting scandal

      Audit firms scrutinised over collapse of Americanas which has shocked corporate Brazil

    • Friday, 9 June, 2023
      3M Co
      Court blocks 3M strategy to halt earplug lawsuits through bankruptcy

      US judge’s decision is setback to strategy to shield financial damage from lawsuits

      3M sign outside its headquarters
    • Friday, 9 June, 2023
      Unhedged
      Stress at the edges Premium content

      Plus more on liquidity and hedging

      A man walks in the Financial District of Manhattan
    • Thursday, 1 June, 2023
      Lex
      US bankruptcies: Houston, we have a solution Premium content

      Last month saw a surge in big cases

      Employees at Diebold Nixdorf in Greensboro,  North Carolina
    • Wednesday, 31 May, 2023
      Lex
      Sacklers/Purdue: judges do not want perfect to be enemy of good Premium content

      A court ruling clears the way for swift payment for those affected by the US opioid crisis

      OxyContin bottle and pills
    • Tuesday, 30 May, 2023
      US opioid epidemic
      Purdue Pharma allowed to shield Sackler owners from opioid lawsuits

      Appeals court says some liability releases are ‘appropriate’ under US bankruptcy law

      A bottle of OxyContin made by Purdue Pharma
    • Friday, 26 May, 2023
      US credit squeeze triggers rise in corporate bankruptcies

      Chapter 11 filings by indebted companies jump in May, including five during a 24-hour span

      A montage of the logos of Envision Healthcare and Kidde-Fenwal, the Vice Media logo on a mobile phone and US dollars
    • Tuesday, 16 May, 2023
      LexCapital markets
      US bankruptcies: easy capital is a drug that induces myopia Premium content

      In the case of Vice and Envision, running out of cash and bad business models were no bar to raising more money

      The Vice logo on a laptop computer
    • Monday, 15 May, 2023
      Vice Media Inc
      Vice Media files for bankruptcy protection ahead of sale

      Struggling group agrees to sell to consortium that includes Soros Fund Management and Fortress

      Vice logo
    • Thursday, 4 May, 2023
      News in-depthBed Bath & Beyond Inc
      How a rescue turned to regret in Bed Bath & Beyond’s bankruptcy

      Tensions with Sixth Street Partners reveal the knife-edge nature of distressed-debt investing in a weaker economy

      Façade of a Bed Bath & Beyond branch
    • Tuesday, 2 May, 2023
      Airlines
      Indian airline Go First files for bankruptcy blaming US engine maker

      Low-cost carrier claims Pratt & Whitney’s failing engines led to grounding of half its fleet

      Passenger plane at an airport in New Delhi
    • Wednesday, 26 April, 2023
      News in-depth
      ‘Tyranny of the majority’: creditor infighting comes to $1.4tn leveraged loan market

      Serta Simmons bankruptcy ruling has opened the door to aggressive new tactics

      sign advertising zero per cent financing for mattressses
    • Sunday, 23 April, 2023
      Bed Bath & Beyond Inc
      Bed Bath & Beyond files for Chapter 11 bankruptcy

      Once popular US home goods retailer failed to keep up with the rise of online shopping

      A Bed Bath & Beyond shopping trolley
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