Bankruptcy & Restructuring News & Analysis — Conductor

Purdue Pharma has revised its bankruptcy plan to increase the Sackler family payment to $7 billion and make third-party releases voluntary following a Supreme Court ruling. The new plan creates innovative mechanisms to handle claims from creditors who opt out of the settlement while preserving the overall framework to address opioid-related damages

Former food distribution giant Harvest Sherwood Food Distributors seeks court approval for streamlined procedures to sell remaining assets as it winds down operations in bankruptcy. The motion would allow the company to sell assets valued up to $1 million without individual court approval, facilitating an efficient liquidation process

Ascend Performance Materials Holdings has requested bankruptcy court approval for a $2 million executive incentive plan covering 11 key leaders during its Chapter 11 restructuring. The performance-based plan ties payments to achieving ambitious operational EBITDA targets, representing an 18% improvement over previous year's results, and has gained support from the company's major lenders

Dynamic Aerostructures LLC has filed a motion to dismiss its Chapter 11 bankruptcy cases following the April sale of substantially all assets to FMI Holdco LLC. The aerospace manufacturer argues dismissal is more efficient than Chapter 7 conversion as no unencumbered assets remain for unsecured creditors, with the Delaware bankruptcy court scheduled to hear the motion on June 10

JOANN Inc., the once-dominant fabric and craft retailer, is liquidating its assets after filing its second bankruptcy in less than a year. The company's disclosure statement reveals how inventory challenges and vendor issues caused its post-emergence business plan to collapse just months after its April 2024 exit from an earlier Chapter 11 case