Bankruptcy & Restructuring News & Analysis — Conductor

The Official Committee of Unsecured Creditors in the bankruptcy case of The Center for Special Needs Trust Administration has requested court approval to establish a GoFundMe campaign to aid disabled beneficiaries whose trust funds were allegedly misappropriated. The campaign aims to provide immediate relief to approximately 2,000 beneficiaries while the Chapter 11 Trustee pursues recovery of over $100 million in allegedly misappropriated funds

JOANN Inc. seeks court approval to sell its "Ditto" pattern technology to Singer Sourcing for $800,000 plus waiver of priority claims. The transaction, part of JOANN's ongoing bankruptcy proceedings in Delaware, would transfer digital sewing pattern technology and intellectual property to the sewing machine company, potentially benefiting unsecured creditors through claim waivers

Conn's Inc. has filed its liquidation plan in bankruptcy court, projecting just 1% recovery for unsecured creditors following store closures and asset sales to Jefferson Capital Systems. The plan, which follows the retailer's July 2024 bankruptcy filing, outlines the distribution of proceeds and formation of a Distribution Trust to wind down operations

Oklahoma-based steel pipe manufacturer Paragon Industries has filed for Chapter 11 bankruptcy protection while planning to sell its business as a going concern. Facing multiple lawsuits and struggling with rising material costs and declining demand, the company believes its value exceeds its debts and aims to maximize returns for creditors through a court-supervised sales process

Bitcoin mining company Rhodium Encore proposes a rare 100% recovery plan for creditors in its Chapter 11 bankruptcy, funded by a $185 million settlement with Whinstone/Riot. Despite operational challenges from landlord disputes, the plan would satisfy all creditor claims while also providing value to equity holders