Bankruptcy & Restructuring News & Analysis

TPI Composites seeks emergency bankruptcy court approval for a transaction to exit its Turkish operations, settling $38 million in intercompany debt amid a labor strike that has halted production. The wind blade manufacturer must obtain court approval by September 9 to meet the transaction's September 19 deadline

LifeScan Global Corporation, the diabetes device maker spun off from Johnson & Johnson, filed for Chapter 11 bankruptcy seeking to eliminate $1.4 billion in debt through a pre-negotiated plan. The company faces financial pressure from continuous glucose monitoring technology disrupting its traditional blood glucose meter business

A federal bankruptcy judge denied motions by London Market Insurers and Hartford insurance companies to disallow sexual abuse claims in the Albany Diocese bankruptcy, ruling they lack standing without accepting financial responsibility. The decision distinguishes the case from the Supreme Court's Truck precedent and leaves open the possibility for insurers to refile if they later assume financial obligation for claims

Rite Aid has filed a comprehensive liquidation plan in its second bankruptcy case within two years, proposing to transfer remaining assets to supplier McKesson while winding down retail operations. The plan follows extensive asset sales that have generated over $160 million in proceeds for creditors

Delaware bankruptcy judge conditionally approved Avon's talc liability plan despite insurance disputes, requiring revisions to ensure neutrality while rejecting a controversial gatekeeping provision. The plan received overwhelming creditor support with 100% of voting talc claimants accepting the proposal