Bankruptcy & Restructuring News & Analysis — Conductor

Carbon credit company CTN Holdings and its affiliates have requested court approval for a $20 million stalking horse bid from Inherent Aspiration, establishing auction procedures for the sale of substantially all their assets in Delaware bankruptcy court. The proposed timeline aims for a mid-May auction with tight milestones required by DIP financing, including bid protections of a $600,000 break-up fee and up to $400,000 in expense reimbursement for the stalking horse bidder

Ligado Networks has proposed a $2.1 million incentive plan for its six top executives tied to cost-cutting measures and recovery of over $150 million in satellite insurance claims as part of its bankruptcy restructuring. The plan, supported by key creditor groups, features tiered performance goals for cash conservation and would award executives 5% of any insurance proceeds recovered from claims related to its SkyTerra-1 satellite

After more than a century of operation, The College of Saint Rose has filed its liquidation plan in bankruptcy court, detailing how unsecured creditors will receive approximately 25% recovery while bondholders will get about 50% of their secured claims following the $35 million sale of its historic Albany campus

Content delivery provider Edgio unveiled a Chapter 11 reorganization plan that would reduce its debt by 84% and transfer ownership to creditor Lynrock Lake. The plan follows major asset sales to Akamai and InterDigital, and creates a liquidating trust to pursue claims against former executives and auditors.