Bankruptcy & Restructuring News & Analysis
Merit Street Media Reaches Three-Way Settlement in Contested Bankruptcy Case
Merit Street Media Inc. reached a three-way bankruptcy settlement that resolves contested litigation and establishes a $10-17 million recovery pool for unsecured creditors. The agreement between the Fort Worth media company, major lender Peteski Productions, and the creditors committee sets up an expedited asset sale timeline with auction scheduled for October 2025
Wyoming Gas Company's Subsidiaries File for Bankruptcy to Facilitate Asset Sale
Three subsidiaries of Wyoming natural gas company US Realm Powder River filed for Chapter 11 bankruptcy protection to facilitate a pending asset sale to Pronghorn Resources. The filings represent an unusual corporate restructuring strategy for the company, which has been in bankruptcy since 2019 and operates 6,800 coal-bed methane wells in the Powder River Basin
USG Corp Fights Ohio's $16.77 Million Claim in Bankruptcy Court, Citing 2006 Discharge
Company argues state's subsidence-related lawsuit violates nearly 20-year-old Chapter 11 plan that released all pre-confirmation claims
Connecticut Luxury Apartment Complex Seeks Court Approval for $62 Million Sale in Bankruptcy
Connecticut luxury apartment complex seeks bankruptcy court approval for $62 million sale through competitive auction process. The Newtown property owner filed for Chapter 11 protection after COVID-related construction delays led to financial distress and foreclosure proceedings
Charter School Lender Old School Inc. Proposes Liquidation Plan with Minimal Equity Recovery
Charter school financing company Old School Inc. filed a liquidation plan offering preferred shareholders just 0-7% recovery on $58 million while paying general creditors in full. The company's receivables financing business collapsed from $300 million annually to $32.6 million after COVID-19 relief eliminated demand for private charter school financing.