Bankruptcy & Restructuring News & Analysis — Conductor

On remand from the Fifth Circuit, the bankruptcy court held that the participating lenders breached the credit agreement's pro rata sharing provision and awarded the excluded and LCM lenders $261.13 million, plus six years of mandatory prejudgment interest at nine percent

Central Falls Detention Facility Corporation entered Chapter 11 with a signed restructuring support agreement and a plan that would eliminate more than $101 million of bond obligations while resolving years of litigation with its host city and a data-security class action

A Los Angeles County safety-net hospital entered Chapter 11 in Delaware with roughly $240,000 in unrestricted cash, four days before a Colorado court was scheduled to hear a receivership motion tied to a Main Street Loan whose assignment that same court had just declined to validate on summary judgment

In an issue of first impression, the Second Circuit holds that a comprehensive, self-executing blocker defeats a short-swing profit claim, even where the anchor investor cleared more than $300 million trading in and out of a company on the eve of its bankruptcy

A regulatory directive to sell wireless spectrum split a single enterprise into two restructurings running in parallel: a self-funding prepackaged plan for the Pay-TV business, and a Section 363 wind-down for the stranded 5G network