Bankruptcy & Restructuring News & Analysis

In an adversary complaint filed October 13, 2026, the debtor seeks a declaration that the automatic stay covers the Twin Rivers Unified School District Board’s pending appeal to the California State Board of Education and, in the alternative, an injunction under Section 105(a), ahead of a State Board meeting scheduled for November 12, 2026.

The Consumer Privacy Ombudsman now supports the $10 million sale of deidentified data to Google, but the hearing has moved to November 6. Meanwhile the debtors allege that CSDS has defaulted on four of the 20 HFS aircraft and say Spirit has terminated the purchase agreement

Twenty-eight Florida health care debtors filed on October 11. One day later, they and their senior lender jointly asked the Bankruptcy Court to suspend the cases for 45 days so the two sides can renegotiate approximately $400 million of matured debt without running the usual Chapter 11 machinery

After five seasons and roughly $5 billion of equity from its sole sponsor, the league filed with a BC Partners restructuring support agreement, a $49.6 million PIF DIP and a deadline that turns on whether enough players sign on by October 13.

Finding little Ninth Circuit authority on point, the court adopted a four-factor test, held that heightened scrutiny displaces the business judgment factor for insider financing, and looked to the debtor's state of incorporation to choose the applicable fairness doctrine