Bankruptcy & Restructuring News & Analysis — Conductor

Axip Energy Services filed a Chapter 11 plan of liquidation on May 6, 2026 following the completed court-approved sale of its natural gas compression assets to Service Compression, LLC, with the plan providing an estimated 49 percent aggregate recovery for holders of Prepetition ABL Claims, 4.87 percent for holders of Prepetition 2L Claims, and 40 percent for holders of allowed General Unsecured Claims against an estimated pool of approximately $1.2 million

A creditor of cryptocurrency platform BlockFills has asked the Delaware Bankruptcy Court to appoint an independent examiner and Chapter 11 trustee, alleging the debtors solicited 3,500 ETH without posting required collateral and commingled customer digital assets while insolvent

A federal district court vacated a bankruptcy court order extending the automatic stay to non-debtor defendants in the Genesis Healthcare Chapter 11 case, finding the Bankruptcy Court failed to conduct a required adversary proceeding and misapplied the preliminary injunction standard under controlling Fifth Circuit precedent

Spirit Aviation Holdings filed an emergency motion on May 4, 2026, seeking court authority to sell or abandon its remaining 28 owned aircraft, 18 spare engines, and related spare parts under a tiered procedure framework, following the airline's complete cessation of passenger operations on May 2, 2026, driven by a fuel-price-triggered liquidity deterioration that rendered its previously filed reorganization plan unviable

A leading fresh food production, manufacturing, and fulfillment platform enters bankruptcy in the District of New Jersey backed by a $63 million DIP facility, a Blue Apron settlement worth approximately $62–$65 million in aggregate value, and an Asset Purchase Agreement with Misfits Market for the Blue Apron fulfillment business