Bankruptcy & Restructuring News & Analysis — Conductor

A Puerto Rico bankruptcy court ruled that the automatic stay does not bar OCIF's regulatory enforcement action against The Phoenix Fund LLC, and that the pre-petition receiver, Driven, P.S.C., holds sole authority to act as debtor-in-possession

The Chapter 7 trustee for Start Man Furniture, LLC (formerly Art Van Furniture, LLC) is seeking bankruptcy court approval to sell the estate's rights in the Visa/Mastercard interchange fee class action — which resulted in a $5.56–$6.26 billion settlement — to Optium Fund 6 for $850,000, with a hearing scheduled for April 6, 2026

Cumulus Media Inc., operator of 394 radio stations across 84 markets, filed for Chapter 11 bankruptcy with a prepackaged restructuring plan backed by approximately 72% of its secured lenders that will reduce funded indebtedness by approximately $592 million.

NFN8 Group and its affiliates filed an amended motion seeking approval of bidding procedures for a Section 363 sale of substantially all assets, with an auction scheduled for April 8, 2026, and bid protections of up to 3% break-up fee and 1.5% expense reimbursement for any stalking horse bidder

The Bankruptcy Court for the Northern District of Illinois confirmed the Chapter 11 Plan for Lutheran Home and Services for the Aged and its affiliates, overruling the U.S. Trustee's objections to third-party releases, exculpation, and gatekeeper provisions in a 72-page opinion addressing the post-Purdue landscape for consensual releases