Bankruptcy & Restructuring News & Analysis

Yellow Corporation's joint bankruptcy plan would settle billions in disputed pension claims, providing unsecured creditors with 12-16% recovery and establishing a liquidating trust to distribute remaining assets after successfully selling properties for $1.88 billion and repaying all secured debt

LeFever Mattson seeks court approval for special procedures to sell 60 properties securing $75 million in loans from Socotra Capital, while investigating potentially improper transfers by its former CEO. The motion reveals allegations that Kenneth W. Mattson transferred $20 million from the company to the lender, prompting creditors to request that sale proceeds be held in a segregated account pending investigation

The Franciscan Friars of California has requested a third extension in its bankruptcy case involving sexual abuse claims, proposing a novel mediation approach that would allow select "test cases" to proceed in state court while maintaining the integrity of the Chapter 11 process. The religious organization faces 94 abuse cases and hopes to conclude mediation sessions by mid-2025