Bankruptcy & Restructuring News & Analysis — Conductor

Vintage Wine Estates Files Disclosure Statement in Delaware Bankruptcy Case

January 14, 2025 • Conductor

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.

Biotech Firm Biora Therapeutics Moves to Reject Service Contracts in Chapter 11

January 14, 2025 • Conductor

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.

Prospect Medical Holdings Files Chapter 11, Citing COVID-19 Impact and Pension Obligations

January 14, 2025 • Conductor

Healthcare provider Prospect Medical Holdings has filed for Chapter 11 bankruptcy protection, citing COVID-19 impacts and pension obligations. The operator of 16 hospitals across four states has secured $100 million in DIP financing and plans to sell its PhysicianCo division for $745 million as part of its restructuring efforts.

Roman Catholic Archdiocese of Baltimore Seeks Exclusivity Extension in Chapter 11 Bankruptcy Case

January 12, 2025 • Conductor

The Roman Catholic Archbishop of Baltimore has requested additional time to file its Chapter 11 reorganization plan, seeking a 69-day extension amid ongoing negotiations with insurers and complex claim reviews. The motion, filed January 9, 2025, would extend the plan filing deadline to March 31, 2025, as the archdiocese works toward a comprehensive resolution of abuse-related claims.

Diocese of Rochester Files Modified Joint Chapter 11 Plan, Offering $126.35M Settlement Fund

January 12, 2025 • Conductor

The Diocese of Rochester has filed a modified Chapter 11 plan proposing a $126.35 million settlement fund for abuse survivors, with potential to increase to $297.35 million if insurer CNA agrees to contribute. The plan includes $55 million from the diocese and other Catholic entities, plus $71.35 million from insurance settlements.