Bankruptcy & Restructuring News & Analysis

A bankruptcy judge has ruled in favor of Rite Aid in its multi-million dollar contract dispute with CVS Pharmacy over prescription data calculations. The decision by Judge Michael Kaplan of the New Jersey bankruptcy court hinged on the interpretation of two key provisions in asset purchase agreements, with the judge finding that CVS had previously accepted Rite Aid's calculation methodology without objection

LifeScan Global Corporation, maker of OneTouch diabetes monitoring products, has filed Chapter 11 with a prepackaged plan to eliminate $1.4 billion in debt. The company aims to reshape its capital structure and position itself to enter the continuous glucose monitoring market after struggling with the industry-wide shift away from traditional blood glucose monitoring technology

Boundless Broadband seeks bankruptcy court approval to sell its Vermont fiber network for $4.2 million to Selectronics Corporation in a private sale. The network, built during the pandemic with CARES Act funding, serves approximately 400 customers across three Vermont towns. The debtors argue the sale represents the best outcome after extensive marketing efforts dating back to 2023.

MN Theaters argues that a Subchapter V trustee alone is insufficient protection for creditors in this case

Bankrupt satellite communications company Ligado Networks is seeking court approval for a $547 million DIP financing amendment to backstop a critical spectrum rights transaction with AST. The filing warns that failure to secure this financing could force the company into liquidation, highlighting the strategic importance of the deal to Ligado's restructuring efforts