Bankruptcy & Restructuring News & Analysis — Conductor

Edgio Inc. has filed a motion in Delaware bankruptcy court seeking approval to dissolve its French and Dutch subsidiaries as it finalizes its restructuring following multiple asset sales. The company, which has already sold its core businesses, states these foreign entities no longer conduct business activities and are unnecessary for future operations of its remaining Uplynk platform

Bankrupt retailer Conn's has filed an emergency motion to pay certain vendors 30 cents on the dollar for goods received shortly before its bankruptcy filing. The company warns that without court approval of this plan, it cannot guarantee any payments to these vendors or confirm a liquidation plan

A major creditor of Brightmark's plastic recycling venture is seeking to dismiss the company's Chapter 11 bankruptcy, claiming it was filed in bad faith solely to prevent bondholders from exercising their rights. UMB Bank, representing $185 million in green bond investors, argues the case is merely a two-party dispute with no legitimate reorganization purpose

23andMe has filed a statement with the bankruptcy court affirming its commitment to protect customer genetic data throughout its Chapter 11 proceedings. The company addressed technical issues preventing account deletions and assured customers that any future sale would require the buyer to maintain existing privacy policies

A federal bankruptcy judge prioritized patient safety and community healthcare access in denying two banks' requests to stay portions of a hospital financing order. The ruling in the Jackson Hospital bankruptcy case preserves controversial provisions that reserve funds for critical operations ahead of secured lenders' claims