Bankruptcy & Restructuring News & Analysis

A Texas bankruptcy court confirmed QVC Group's prepackaged plan over a preferred-shareholder objection, holding that a global intercompany settlement negotiated by independent disinterested directors cleared Rule 9019 under business judgment review, that a release is not an indemnity for equal-treatment purposes, and that opt-out third-party releases remain consensual after Purdue.

On remand from the Fifth Circuit, the bankruptcy court held that the participating lenders breached the credit agreement's pro rata sharing provision and awarded the excluded and LCM lenders $261.13 million, plus six years of mandatory prejudgment interest at nine percent

Central Falls Detention Facility Corporation entered Chapter 11 with a signed restructuring support agreement and a plan that would eliminate more than $101 million of bond obligations while resolving years of litigation with its host city and a data-security class action

A Los Angeles County safety-net hospital entered Chapter 11 in Delaware with roughly $240,000 in unrestricted cash, four days before a Colorado court was scheduled to hear a receivership motion tied to a Main Street Loan whose assignment that same court had just declined to validate on summary judgment

In an issue of first impression, the Second Circuit holds that a comprehensive, self-executing blocker defeats a short-swing profit claim, even where the anchor investor cleared more than $300 million trading in and out of a company on the eve of its bankruptcy