Bankruptcy & Restructuring News & Analysis

A New Mexico dairy farm bankruptcy case from 2017 continues eight years later as the liquidating trustee argues Doña Ana County should be barred from pursuing a $322,832 tax claim due to unreasonable delay. The county systematically ignored bankruptcy notices for years, and the late claim has prevented final distributions to creditors while consuming estate resources in ongoing litigation

Mode Eleven Bancorp has filed for Chapter 11 bankruptcy and is seeking emergency court approval for an expedited sale of Summit National Bank due to regulatory pressure and critically low capital ratios. The Wyoming-based bank holding company warns that its community bank could face closure within months without a quick sale to a well-capitalized buyer

Conn's Inc. has filed its Second Amended Liquidation Plan in Texas bankruptcy court, proposing to distribute remaining assets to creditors after selling its operations to Jefferson Capital and others. Under the plan, secured lenders may recover up to 73% of claims while unsecured creditors expect just 1%, with voting scheduled to conclude by July 15, 2025

Satellite communications provider Ligado Networks has filed its bankruptcy disclosure statement outlining an $8.6 billion debt restructuring plan that hinges on a transaction with AST SpaceMobile and an ongoing lawsuit against the U.S. government for allegedly blocking use of its valuable spectrum assets. The Delaware bankruptcy court will consider the plan at a confirmation hearing scheduled for August 7, 2025

Mosaic Sustainable Finance Corporation has asked a bankruptcy court to approve a $1.65 million retention plan for 63 key employees as it navigates Chapter 11 proceedings. The solar loan company filed the motion as part of efforts to maintain operations while pursuing both reorganization and potential sale options