Bankruptcy & Restructuring News & Analysis

TPI Composites' creditors committee challenges Oaktree's $400 million uptier transaction as fraudulent transfer, alleging the investment firm converted preferred equity to secured debt without providing new funding ahead of bankruptcy. The dispute could significantly impact creditor recoveries and Oaktree's ability to acquire the wind turbine manufacturer's assets through credit bidding

A trust from Rite Aid's 2023 bankruptcy has sued Walgreens for tens of millions in opioid litigation costs, claiming the pharmacy chain must pay under their 2017 store acquisition deal. The dispute centers on whether Walgreens assumed liability for opioid lawsuits related to nearly 2,000 acquired Rite Aid locations

A federal judge reversed ConvergeOne Holdings' bankruptcy plan confirmation, ruling that exclusive investment opportunities for select creditors violated equal treatment requirements under bankruptcy law. The decision establishes important precedent for creditor equality rights and market testing requirements in reorganization cases

A Nevada bankruptcy judge reversed a prior ruling limiting California's tax priority claims in the DC Solar case, potentially blocking distributions from the $90 million estate to creditors who have waited six years. The court allowed California's $35.4 million priority claim to proceed without the previously imposed three-year limitation

TPI Composites, a wind energy supplier to GE Vernova and Vestas, seeks bankruptcy court approval for asset sales while continuing active customer negotiations. The company is pursuing a dual-track strategy to maintain flexibility, with an October 22 bid deadline and November 5 sale hearing