The Diocese of Rochester has filed a modified Chapter 11 plan proposing a $126.35 million settlement fund for abuse survivors, with potential to increase to $297.35 million if insurer CNA agrees to contribute. The plan includes $55 million from the diocese and other Catholic entities, plus $71.35 million from insurance settlements.
Biora Therapeutics has filed a motion seeking approval of bidding procedures in its Delaware bankruptcy case, proposing a stalking horse bid from its DIP lenders that includes a $30 million credit bid. The medical technology company, which filed Chapter 11 on December 27, 2024, aims to complete an auction process by February 20, 2025, as it seeks to maximize value for its innovative drug delivery technology assets.
Century Mining LLC seeks bankruptcy court approval for a $6 million employee incentive program to restart its West Virginia longwall mining operations. The two-phase bonus plan would reward workers for achieving key operational milestones, with 25% paid upon mine re-entry and 75% upon production restart. The company, which filed Chapter 11 in November 2024, aims to incentivize its 362 employees to execute its restructuring strategy.
Steward Health Care seeks court approval for a DIP extension premium arrangement with lenders, extending its financing facility to January 31, 2025. The nation's largest physician-owned healthcare network aims to maintain operational flexibility while managing its restructuring process in Texas bankruptcy court.
