Yellow Corporation seeks bankruptcy court approval for $66.5 million in property sales, including a $54.5 million deal with Central Transport and a $12 million agreement with RAMAR Land Corporation. The proposed sales follow an extensive marketing process and represent a significant step in the company's ongoing Chapter 11 proceedings.
Mining Project Wind Down Holdings has filed an emergency motion to modify its litigation trust agreement following the resignation of a key oversight committee member. The motion seeks to allow operation with a single committee member after Touzi Capital, LLC became subject to litigation and receivership, marking a significant shift in the company's post-bankruptcy governance structure.
Natera Inc. has filed an adversary complaint in Invitae's bankruptcy case, seeking to prevent enforcement of a rejected Asset Purchase Agreement. The biotechnology company argues that Invitae's rejection of the contract in bankruptcy proceedings should bar any claims related to potential milestone payments, highlighting key issues in contract rejection under Chapter 11 bankruptcy law.
Vintage Wine Estates has filed its disclosure statement in Delaware bankruptcy court, outlining a plan to consolidate 12 debtor entities and establish a liquidation trust. The plan projects 39% recovery for secured lenders and 5-8% for general unsecured creditors, following several successful asset sales to industry buyers.
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.
