Bankruptcy & Restructuring News & Analysis — Conductor

Creditors' Committee Proposes Liquidation Plan for Utah Crypto Firm Power Block Coin

February 02, 2025 • Conductor

The Official Committee of Unsecured Creditors of Power Block Coin has proposed a liquidation plan in Utah bankruptcy court, aiming to maximize value for creditors of the troubled cryptocurrency firm. The plan, filed by Greenberg Traurig, LLP, addresses over $192 million in claims and establishes an independent Liquidating Trust to manage the company's assets and potential legal claims.

The Harborside Senior Living Facility Seeks Court Approval for $80M Sale to SR HSG Acquisitions

February 02, 2025 • Conductor

The Harborside senior living facility has filed a motion seeking approval for an $80 million sale to SR HSG Acquisitions, marking a significant transformation from a continuing care retirement community to a rental-based model. The transaction aims to preserve residents' homes while addressing the facility's financial challenges.

CarePoint Health Seeks to Establish Claims Deadlines in Delaware Bankruptcy Case

February 02, 2025 • Conductor

CarePoint Health Systems Inc. has filed a motion in Delaware bankruptcy court to establish March 14, 2025, as the deadline for creditors to file claims in their Chapter 11 case. The healthcare provider is taking a cost-efficient approach to notifying potential claimants, opting for publication notices over individual mailings to former patients, potentially saving $300,000 in administrative costs.

Bankruptcy Court Approves Major Asset Sale in Wellpath Holdings Restructuring

January 24, 2025 • Conductor

A Texas bankruptcy court has approved Wellpath Holdings' sale of its recovery solutions business to RS Purchaser LLC for approximately $395 million plus additional considerations, marking a significant milestone in the company's Chapter 11 proceedings. The January 21, 2025 order by Judge Alfredo R. Pérez includes the transfer of multiple subsidiaries and provides for the dismissal of related Chapter 11 cases upon closing.

Zachry Holdings Files Modified Chapter 11 Plan & Disclosure Statement, Aims to Restructure $281M in Debt

January 24, 2025 • Conductor

Zachry Holdings, Inc. has filed a modified Chapter 11 reorganization plan in Texas bankruptcy court, outlining its strategy to restructure $281.25 million in debt while maintaining operations. The plan includes a $50 million capital contribution from its parent company and establishes a trust for general unsecured creditors, with a confirmation hearing scheduled for February 2025.