 | | Featured Premium Content | | | | | WSJ Pro Bankruptcy: Johnson & Johnson’s Third Bankruptcy Case for Talc Lawsuits Thrown Out
A bankruptcy judge dismissed Johnson & Johnson’s third attempt to resolve its mass talc liabilities through chapter 11, rejecting the company’s latest bid to end one of the largest-ever mass torts, WSJ Pro Bankruptcy reported. Judge Christopher Lopez of the U.S. Bankruptcy Court in Houston dismissed a J&J affiliate’s chapter 11 case after finding the company used a flawed process to solicit votes from tens of thousands of personal-injury claimants. The judge’s decision dealt a serious setback to the company’s yearslong drive to achieve a resolution in chapter 11 of the mass lawsuits linking its iconic talc-based baby powder to cancer. READ MORE | | | | | SPONSORED CONTENTPrivate Credit and BSLs: Friends or Foes?With private credit and broadly syndicated loans (BSLs) competing for dominance, the lending landscape is in flux. But can these markets ultimately work hand in hand? SRS Acquiom, in partnership with Debtwire, surveyed 200 senior executives from alternative asset management firms across Europe and the U.S. to uncover the true dynamics of these two critical markets. Download the Report | | |  | | Editor's Picks | | | | | FTC Concerned About Privacy Protections in 23andMe Bankruptcy
The U.S. Federal Trade Commission is concerned about the potential sale or transfer of Americans' personal information by 23andMe ancestry testing company which recently filed for bankruptcy, the agency's chairman said on Monday, Reuters reported. Any purchaser of 23andMe assets should agree to be bound by the company's existing privacy policy, FTC Chairman Andrew Ferguson said in a letter to the U.S. trustee, a government office that oversees bankruptcies. The company filed for bankruptcy protection on March 23 amid weak demand for its ancestry testing kits. It has said the bankruptcy process will not affect how it stores, manages or protects customer data. READ MORE | | Hooters Files for Bankruptcy to Seek Revival
Hooters has filed for bankruptcy after changing consumer preferences left it unable to stay good on its debts, WSJ Pro Bankruptcy reported. The chain enters chapter 11 in the U.S. Bankruptcy Court in Dallas with a plan to rebound by bringing back its original founders for a new management team that will aim to keep Hooters going and expand it if they can. Lenders are putting in extra money to fund the reorganization proceedings. READ MORE | | Adjustment of Certain Dollar Amounts Applicable to Bankruptcy Cases Effective Today
Automatic adjustments are effective today to dollar amounts stated in certain sections of titles 11 and 28. The revised dollar amounts were published in the Federal Register on Feb. 4, 2025, Vol. 90, No. 22 at pages 8941-8942. (NOTE: The Federal Register issued a correction on Feb. 24, 2025; click here for details.) READ MORE
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May 14-15 | Las Vegas, Nevada | | | | |  | | Daily Roundup | | | | | Yellow’s New Bankruptcy Plan Revealed, Next Steps Still Uncertain
An amended chapter 11 bankruptcy plan outlining final distributions to Yellow Corp.’s creditors was submitted to a U.S. bankruptcy court in Delaware on Friday, Freight Waves reported. As with the prior plan, the latest iteration would make former employees whole for their priority claims of unpaid time off and commissions due. The current version is backed by Yellow and the defunct estate’s committee of unsecured creditors but may not have the support of a key party in interest. Classes for secured, priority, employee PTO and convenience claims totaling as much as $706 million would see a full recovery under the proposed plan. Payout ratios for general unsecured claims were narrowed to 12% to 17% versus prior scenarios that provided 0% to 26% recovery. Claims and interests held by debtors against other debtors would be deemed impaired and not eligible for a recovery. READ MORE | | Ohio Hospitals Become Latest to Close After Steward, Prospect Bankruptcies
Two hospitals in Ohio became the latest to shut down operations after the bankruptcies of two national hospital chains that leased facilities from the biggest healthcare landlord in the U.S., WSJ Pro Bankruptcy reported. Insight Health, which took over Trumbull Regional Medical Center and Hillside Rehabilitation Hospital in Warren, Ohio, from bankrupt Steward Health Care last year, told nearly 700 employees that they were furloughed or laid off and that work was suspended at the facilities effective Friday, according to a letter from an Insight executive posted online by a hospital workers’ union. READ MORE | | Northvolt Cuts Workforce to 1,700 as Part of Bankruptcy Process
Bankrupt battery maker Northvolt AB will continue to operate in Sweden with a staff of 1,700 while its remaining employees will be laid off, Bloomberg News reported. “Despite significant reductions, it is positive that the business can continue to some extent, which is likely crucial to enabling a full or partial sale of the business,” said Mikael Kubu, Northvolt’s bankruptcy trustee. READ MORE | | Aquatic Theme Park Operator Dolphin Company Files Bankruptcy
The largest aquatic theme park operator in Latin America, The Dolphin Company, has filed bankruptcy in the US to restructure its debt and address what it described as financial challenges, Bloomberg News reported. The Cancun, Mexico-based company, whose properties include Dolphin Discovery habitats and the Selva Magica theme park in Guadalajara, Mexico, sought court protection Monday in Delaware, listing assets and liabilities each of more than $100 million. READ MORE | | | | |
