Bankruptcy & Restructuring News & Analysis
Bankruptcy & Restructuring News Headlines for Wednesday Jan 15, 2025
Vintage Wine Estates Files Disclosure Statement in Delaware Bankruptcy Case
Biotech Firm Biora Therapeutics Moves to Reject Service Contracts in Chapter 11
Biora Therapeutics, a San Diego biotech firm developing innovative oral drug delivery systems, has moved to reject seven service contracts in its Delaware bankruptcy case. The company, which filed Chapter 11 in December 2024, seeks to streamline operations while pursuing a sale of its assets. The targeted contracts include security systems, document storage, and facility maintenance services.
Bankruptcy & Restructuring News Headlines for Tuesday Jan 14, 2025
Prospect Medical Holdings Files Chapter 11, Citing COVID-19 Impact and Pension Obligations
Healthcare provider Prospect Medical Holdings has filed for Chapter 11 bankruptcy protection, citing COVID-19 impacts and pension obligations. The operator of 16 hospitals across four states has secured $100 million in DIP financing and plans to sell its PhysicianCo division for $745 million as part of its restructuring efforts.