Bankruptcy News

BERWICK, Pa.--(BUSINESS WIRE)--IG Design Group Americas, Inc. and its domestic subsidiaries (collectively, “DGA” or the “Company”) today announced that the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”) has approved the sales of certain of the Company’s assets, across the Company’s Stationery, Gift, Sewing, and Play segments (the “Transactions”). Specifically, the Court approved the following Transactions: The sale to WIPHA Holdings, LLC of certain assets in both DGA’s ‘...

DURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide technologies, today announced that the Company has received Court approval of its Plan of Reorganization. Wolfspeed expects to emerge from Chapter 11 protection in the next several weeks. Upon emergence, Wolfspeed expects to reduce its debt by approximately 70%, better positioning the Company to execute on its strategic priorities with a relentless focus on innovation. “We are pleased to reach this i...

OAKLAND, Calif.--(BUSINESS WIRE)--Solar Mosaic (the “Company” or “Mosaic”), a fintech platform for U.S. residential solar and energy-efficient home improvements, announced that the United States Bankruptcy Court for the Southern District of Texas (the “Court”) has approved its Chapter 11 Plan of Reorganization (the “Plan”), which allows for the recapitalization of the loan servicing operation (the “Reorganization Transaction”) by Solar Servicing LLC (“Solar Servicing”), a wholly owned subsidiar...

TORONTO--(BUSINESS WIRE)--Flow Beverage Corp. (TSX:FLOW; OTCPK:FLWBF) (“Flow” or the “Company”) announced today that Flow and its subsidiaries entered into a support agreement (the “Support Agreement”) with NFS Leasing Canada Inc. and RI Flow LLC (together, the “Lenders”) whereby the ownership of Flow’s business will be transitioned to the Lenders or their designee through a structured foreclosure (the “Restructuring Transaction”) to be implemented pursuant to receivership proceedings commenced...

AUSTIN, Texas--(BUSINESS WIRE)--Premier DataCom announced today that it has successfully emerged from Chapter 11 bankruptcy with Sundara Partners as its new majority owner....

DENVER--(BUSINESS WIRE)--Modivcare Inc. (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company providing a platform of integrated supportive care solutions focused on improving health outcomes, today announced that it has taken necessary and decisive action intended to strengthen its financial foundation while continuing to provide access to care, reduce costs, and improve outcomes for clients and members nationwide. Modivcare has filed for voluntary Cha...

HOUSTON, TX--(BUSINESS WIRE)--Linqto announced today that its voluntary Chapter 11 bankruptcy case will remain in the U.S. Bankruptcy Court in the Southern District of Texas. Judge Alfredo R. Perez rejected Interested Party Sapien Group USA, LLC’s motion to move venue to Delaware, stating that Linqto filing in Texas complied with U.S. Bankruptcy law. “Today’s ruling is a win for Linqto’s customers and other creditors,” said Samuel Schwartz, lawyer for Linqto and partner at Schwartz PLLC. “Remai...

CLEVELAND--(BUSINESS WIRE)--Everstream (the “Company”), a business-only fiber network, today announced that it has received approval from the U.S. Bankruptcy Court for the Southern District of Texas for the sale of substantially all of its operations to Bluebird Fiber (“Bluebird”), a regional provider of fiber-based connectivity solutions for businesses. Following a robust auction process, Bluebird emerged as the winner with a prevailing bid of $384.6 million. “This approval sets the stage for...

BAKERSFIELD, Calif.--(BUSINESS WIRE)--Global Clean Energy Holdings, Inc. (“GCE” or the “Company”), a vertically integrated renewable fuels company, announced today that the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”) has confirmed the Company’s Plan of Reorganization (the “Plan”). Noah Verleun, President and CEO of GCE, stated: “We are pleased to announce that the Court has confirmed our Chapter 11 plan, enabling the Company to successfully reorganize its capital stru...

MALVERN, Pa.--(BUSINESS WIRE)--LifeScan, Inc. (“LifeScan” or the “Company”), a world leader in blood glucose monitoring, today announced that it has entered into a Restructuring Support Agreement (“RSA”) with its first- and second-lien lenders and current equity sponsor, Platinum Equity, that will transform its balance sheet and position the Company for a stronger and more profitable future. As contemplated in the RSA, LifeScan expects to reduce more than 75% of its debt, which will enable the...