DCGL Amendment May Breathe New Life Into Zombie Companies: On August 1, 2023, the Delaware General Corporation Law (DGCL) was amended to create an “insolvency exception” to Delaware’s long-standing requirement that a sale of all or substantially all of a Delaware corporation’s assets and property be approved by a majority of the company’s stockholders (in addition to being authorized by its board of directors).
Rate Cuts May Offer a Lifeline for Highly Indebted Companies - WSJ: Companies weighed down with too much debt may be able to avoid bankruptcy in 2024, thanks to an easing in monetary policy the Federal Reserve is expected to unroll in coming months.
FTX Says It Is Owed Billions. It Has Filed About a Dozen Lawsuits to Realize Its Claims. - WSJ: The bankrupt cryptocurrency exchange, which collapsed a little over a year ago, said more litigation could be coming in its second year of restructuring.
Party City Balloon Supplier Exits Bankruptcy - WSJ: Anagram will be owned by Neuberger Berman, Littlejohn and other bondholders.
