Bankruptcy & Restructuring News & Analysis
Bankruptcy & Restructuring News Headlines for Monday Apr 7, 2025
Here are the bankruptcy, distressed debt and corporate restructuring stories that we are reading this morning, Monday Apr 7, 2025.
Edgio Unveils Plan to Slash Debt by 84% and Exit Bankruptcy Under Lynrock Ownership
Content delivery provider Edgio unveiled a Chapter 11 reorganization plan that would reduce its debt by 84% and transfer ownership to creditor Lynrock Lake. The plan follows major asset sales to Akamai and InterDigital, and creates a liquidating trust to pursue claims against former executives and auditors.
Delaware Bankruptcy Judge Signals Intent to Issue Ruling on Yellow Corp Claims Despite Settlement Efforts
A Delaware bankruptcy judge signaled intentions to rule on disputed pension claims in Yellow Corporation's bankruptcy despite ongoing settlement negotiations. Judge Goldblatt's detailed letter indicates recent Supreme Court decisions may require courts to prioritize creditor objection rights over settlement approvals, potentially reshaping bankruptcy practice regarding contested claims.
Mondee Holdings Seeks Chapter 7 Conversion Following Asset Sale, Citing Insufficient Funds for Tax Liabilities
Mondee Holdings has filed to convert its Chapter 11 bankruptcy to Chapter 7 liquidation after selling its assets to DIP lenders. Despite preserving 1,000+ jobs through the sale, the travel tech company lacks funds to cover $1 million in administrative tax liabilities, highlighting the complex challenges in corporate restructuring outcomes.
Alaska Seafood Processor Proposes Full Creditor Repayment Through Asset Sales in Chapter 11 Plan
An Alaska-based seafood processing group has filed an amended Chapter 11 plan to fully repay creditors through strategic asset sales. The plan follows business disruptions from Russian sanctions and salmon market declines, with major asset liquidations aimed at satisfying $27 million in claims.