 | | Featured Premium Content | | | | | Debtwire U.S. Restructuring Outlook: Creditors Set to Take Control Even as LME Spree Shows No Signs of Ending
Change of control deals are at the top of restructuring practitioners’ agendas for 2025 following years of efforts by companies to push out maturities and boost liquidity through liability management exercises. The sometimes-controversial LME maneuvers are hardly going away, though, and are expected to remain the first port of call for distressed companies. Market participants told Debtwire they expect LME activity to remain elevated as persistently high interest rates, political risk and maturity walls push borrowers to consider restructuring options with creditors and third-party capital providers that allow existing equity investors to preserve their ownership. READ MORE | | |  | | Editor's Picks | | | | | Infowars Bankruptcy Sale Blocked by Judge
The judge overseeing Alex Jones’s bankruptcy case suspended the sale of his conspiracy website Infowars, ending a monthslong effort to find a buyer, WSJ Pro Bankruptcy reported. The decision by Judge Christopher Lopez with the U.S. Bankruptcy Court in Houston is a victory for Jones, who has been fighting to delay the sale process for assets of his company, Infowars owner Free Speech Systems. READ MORE | | Jackson Hospital Files for Bankruptcy, State Lawmakers Speak Out in Support
A bipartisan coalition of Alabama state legislators on Monday released a statement in support of saving Jackson Hospital and Clinic in Montgomery, which is facing imminent closure after defaulting on $60 million in debt in September last year, ALReporter.com reported. Last week, Jackson Hospital employees held a rally and press conference where they asked the City of Montgomery, Ala., for a $20.5 million guarantee on a loan in order to keep the hospital open until they are able to properly restructure its finances. The city ultimately declined to extend that guarantee, leading to the hospital filing for chapter 11 bankruptcy on Tuesday. READ MORE | | Forever 21 Weighs Repeat Bankruptcy Filing
Fast-fashion retailer Forever 21 is considering filing for bankruptcy after exiting its last chapter 11 roughly five years ago, WSJ Pro Bankruptcy reported. The company, with over 500 stores, is working with restructuring adviser BRG to assess possible paths to address its financial challenges. The company is also trying to find a buyer that could help the chain avoid bankruptcy. READ MORE
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May 14-15 | Las Vegas, Nevada | | | | |  | | Daily Roundup | | | | | Venezuela’s Citgo Is Proving a Tough Sell for Bidders
The coming auction for Venezuela’s Citgo Petroleum could leave its buyer on the hook to other creditors of the South American country, a stumbling block for the court-ordered sale, WSJ Pro Bankruptcy reported. Citgo, among the largest U.S.-based oil refiners, is being auctioned to cover debts owed by its owner, the bankrupt Venezuelan government. Bidders are contending with the risk that U.S. courts could hold Citgo responsible for judgments held by Venezuela’s bondholders and other creditors. READ MORE | | Operator of Lutheran Home in Arlington Heights Files for Chapter 11 Protection
Arlington Heights-based Lutheran Life Communities, which operates Lutheran Home in the Northwest suburb and other retirement homes in downstate Illinois and Indiana, filed for chapter 11 protection this week, court filings show, the Daily Herald reported. The company has between $10 million and $50 million in liabilities, $10 million to $50 million in assets, and fewer than 50 creditors, the filing indicates. READ MORE | | Fewer Americans Are Quitting Their Jobs
The U.S. job market is still solid. But more workers are staying put, because the chance to trade up to a better job is rarer, the Wall Street Journal reported. Americans quit 39.6 million jobs in 2024, down 11% from the year before and down 22% from a recent peak in 2022, according to Labor Department data published on Tuesday. The share of employees who quit their jobs each month has fallen below the prepandemic level, and some economists expect more decreases ahead. (Subscription required.) READ MORE | | Farmers Ruined by PFAS Face Key Moment in Fight Against Pentagon
A critical hearing is set for Feb. 7 before the U.S. District Court of South Carolina, which is managing thousands of lawsuits claiming property, personal injury and other damage from contamination by per- or polyfluoroalkyl substances, known as PFAS, from neighboring Cannon Air Force Base. The U.S. government has made three related requests to dismiss all claims. At least 27 businesses, cities, counties, individuals and states have filed claims against the Air Force, Army or Navy under a law called the Federal Tort Claims Act, which describes when the government can be sued. READ MORE | | Preliminary-Round Judges Needed for the Duberstein National Bankruptcy Moot Court Competition!
The Duberstein National Bankruptcy Moot Court Competition, now in its 33rd year and widely recognized as one of the nation’s preeminent moot court competitions, will be held in New York March 1-3, 2025. Fifty-three teams from law schools across the country will compete through written briefings and oral argument. Please find the fact pattern by clicking here. Volunteers are needed to judge the preliminary rounds (sign up here) of the competition. Click here for more information and to volunteer. | | | |
