 | | Featured Premium Content | | | | | ABI Paskay: Avoidance Actions Update
A panel at the 2025 Alexander L. Paskay Memorial Bankruptcy Seminar presented an overview of the statutory groundwork for, methodology for pursuing, and latest case law on avoidance action claims, including the impact of Purdue Pharma on the sale of these claims. Enjoy access to the materials from the session. | | |  | | Editor's Picks | | | | | Forever 21 Weighs Liquidation Ahead of Bankruptcy in Coming Days
The U.S.-based operator of retailer Forever 21 Inc. is preparing to potentially close down its stores as part of a bankruptcy filing in the coming days, Bloomberg News reported. Efforts to find a buyer for the fast-fashion retailer to avoid a liquidation have so far failed, said the people, who asked not to be identified discussing private information. Talks with one potential bidder are ongoing, they said. READ MORE | | Florida-Based Hospital Operator Landmark Holdings Files for Bankruptcy
Hospital operator Landmark Holdings of Florida filed for chapter 11 protection on March 9, HealthCareDive.com reported. In first-day motions, Landmark, which owns or operates six long-term acute care hospitals across three states, said that rising labor and pharmaceutical costs, as well as stagnating Medicare reimbursements, had dinged Landmark’s profitability and threatened the provider’s ability to make timely loan repayments. Still, Landmark told the court it expects to have enough cash on hand to keep its hospitals open through the bankruptcy process. READ MORE | | Kal Freight Bankruptcy Staying Under Chapter 11, Allaying Fears of Chaotic Exit
Kal Freight’s closure in the coming weeks will not be under a chapter 7 bankruptcy action, as had been feared by some of the company’s creditors, but will be a wind-down through the existing chapter 11 proceedings, Freight Waves reported. That’s one of the main takeaways from the binding settlement term sheet agreed to Wednesday in the U.S. Bankruptcy Court for the Southern District of Texas. All the key creditors of the truckload carrier have signed on to the pact, and Bankruptcy Court Judge Christopher Lopez approved it. READ MORE
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May 14-15 | Las Vegas, Nevada | | | | |  | | Daily Roundup | | | | | Cortland Standard Newspaper Declares Bankruptcy and Eliminates Jobs
The Cortland Standard, which has been operating as a newspaper for 158 years has declared chapter 7 bankruptcy and eliminated 17 jobs according to a report by WXHC radio in Cortland, N.Y. Two former employees confirmed the shutdown to CNYCentral Wednesday evening. The last issue of The Standard will be Thursday, March 13th. Employees were informed around noon Wednesday it would be their last day of work. READ MORE | | Lebanon County Funeral Home Sold to Lancaster County Competitor in Bankruptcy Reorganization
A recent deal in bankruptcy court has preserved the current ownership of two Lancaster County, Pa., funeral homes but allowed a competitor to take over one of its former operations in Lebanon County, Pa., LancasterOnline.com reported. The former Porterfield-Scheid Funeral Directors & Cremation Services location at 890 Isabel Drive in North Cornwall Township, Lebanon County, was sold Jan. 28 to Chad Snyder and Kevin Bean. The owners of the facility, which is now named Snyder Bean Funeral Home & Crematory, announced that they had completed the purchase last week. According to Lebanon County property records, the partnership paid $1.675 million for the facility, as well as its furnishings and prepaid funeral arrangements. READ MORE | | Undocumented Subprime Borrowers Pose Risk to Wall Street
There is a growing dilemma among firms specializing in lending to people with checkered, or no, credit history — a group that includes many of the nation’s 14 million undocumented people — now face, even as many fintechs have made courting the unbanked a key priority in recent years, Bloomberg News reported. The problem is twofold: first, these lenders don’t want to risk running afoul of an administration that has made clamping down on illegal immigration a key objective. And second, they don’t want to be in the position of having to write off a loan made unpayable if a borrower is deported. READ MORE | | Drugmakers Mallinckrodt and Endo to Merge in Nearly $7 Billion Deal
Mallinckrodt and Endo, drugmakers with a shared history of bankruptcy and U.S. opioid litigation, will merge in a deal valued at nearly $7 billion to boost scale for selling their branded drugs, Reuters reported. Endo shareholders will get $80 million in cash and own 49.9% of the combined company, while Mallinckrodt shareholders will own the rest for an enterprise value of $6.7 billion, the companies said on Thursday. READ MORE | | Trump Family Has Held Deal Talks With Binance Following Crypto Exchange’s Guilty Plea
Representatives of President Trump’s family have held talks to take a financial stake in the U.S. arm of crypto exchange Binance, a move that would put Trump in business with the firm that pleaded guilty in 2023 to violating anti-money-laundering requirements, the Wall Street Journal reported. At the same time, Binance’s billionaire founder, Changpeng Zhao — who served four months in prison after pleading guilty to a related charge — has been pushing for the Trump administration to grant him a pardon, people familiar with the matter said. Zhao, widely known as CZ, remains Binance’s largest shareholder. The talks began after Binance reached out to allies of Trump last year offering to strike a business deal with the family as part of a plan to return the exiled company to the U.S. READ MORE | | Banks Share Private Information to Snag Debt Trades, Study Says
Global banks appear to be giving top clients private information to win corporate-bond trading business, according to a new study showing the $56 billion-a-day market is stacked in favor of the most active investors with the broadest dealer networks, Bloomberg News reported. The study examined the profitability of trades by insurance companies, which are whales in the credit world. It found that those with the best access to Wall Street’s bond-trading desks often had better outcomes than other investors ahead of market-moving events, such as mergers and acquisitions and rating downgrades. READ MORE | | | | |
