Bankruptcy & Restructuring News & Analysis — Conductor

Mondee Holdings is seeking to convert its Chapter 11 bankruptcy to Chapter 7 liquidation after securing a buyer that will preserve over 1,000 jobs. The travel technology company cited inability to fund post-sale administrative expenses, including a $1 million tax liability, despite having previously solicited votes on a reorganization plan

First Citizens Bank has filed a complaint in bankruptcy court seeking declaration of ownership over Silicon Valley Bank's trademark portfolio following its 2023 acquisition of the failed bank. This dispute highlights the complex aftermath of one of the most significant bank failures in recent history, with both parties claiming ownership of valuable intellectual property assets

Forever 21 filed its second bankruptcy in five years, announcing liquidation of all 354 U.S. stores while pursuing potential buyers. The fashion retailer cited $400M in losses over three years and competition from duty-free retailers like Temu and Shein as key factors. The company implemented a two-phase store closing strategy, with all liquidations expected to conclude by May 1, 2025, while maintaining a parallel going-concern sale process that has attracted 30 potential buyers conducting due diligence

GOL Airlines has filed a disclosure statement detailing its plan to eliminate $1.7 billion in debt and secure $1.9 billion in new capital as part of its Chapter 11 restructuring. Abra Group Limited, GOL's largest creditor, will convert much of its $2.8 billion claim into equity in exchange for controlling 76-81% of the reorganized airline. The plan, supported by the Creditors' Committee, also reveals ongoing talks between Abra and Azul about a potential business combination following GOL's emergence from bankruptcy

Village Roadshow Entertainment Group USA Inc., producer of blockbusters including "Joker" and "The Matrix" trilogy, filed Chapter 11 bankruptcy in Delaware (Case No. 25-10475) with a $365 million stalking horse offer from CP Ventura LLC for its film library. The filing follows prolonged financial challenges stemming from a Warner Bros. arbitration dispute and unsuccessful expansion into independent production. With approximately $387 million in secured debt, the company has secured DIP financing of $12.8 million to facilitate an expedited sale process