Bankruptcy & Restructuring News & Analysis

Flagship Resort Development Corporation, operator of three timeshare resorts in the Atlantic City area, has filed a liquidation plan in its Chapter 11 case proposing to sell assets to a company owned by former executives. The bankruptcy court will consider the plan at a hearing on August 13, 2025

Texas-based broadcaster Merit Street Media has filed for Chapter 11 bankruptcy and is seeking court approval to auction its assets, including its video library featuring "Dr. Phil Primetime" and litigation claims against Trinity Broadcast Network and Professional Bull Riders. The young media company, launched just last year, hopes to complete the sale process by late September 2025

Mosaic Sustainable Finance Corporation, a pioneering residential solar financing company, has filed Chapter 11 bankruptcy in Texas with a dual-path restructuring plan. The Oakland-based firm proposes either converting debt to equity or selling its assets as it faces challenges from unfavorable market conditions and political uncertainty around solar tax credits

The United States Bankruptcy Court has approved the $7.1 million sale of Publishers Clearing House to ARB Interactive, marking a new chapter for the iconic sweepstakes company. The deal includes special provisions to protect consumer privacy data and potential employment opportunities for current PCH employees

FTX Recovery Trust has moved to reduce its disputed claims reserve by $1.93 billion after reconciling $8.3 billion in claims from the cryptocurrency exchange's bankruptcy. The proposed reduction to $4.599 billion maintains conservative reserves while potentially freeing up significant assets for creditor distributions