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WSJ Pro Bankruptcy: 3-D Printer Maker Desktop Metal Risks Liquidation Without Sale of Assets
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Desktop Metal, a 3-D printing products maker, has filed for bankruptcy with plans to sell its assets in a private deal after defaulting on debt and failing to pay professional fees, WSJ Pro Bankruptcy reported. The company sought protection from creditors Monday in the U.S. Bankruptcy Court in Houston, seeking immediate court approval to sell certain assets in a $10 million private sale to Anzu Partners, an investment firm focused on industrial and life-sciences technology businesses. The company said it would have to liquidate its business without the sale, putting roughly 780 jobs at risk. READ MORE
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Rochester Catholic Diocese Abuse Survivors Accept $246 Million Settlement
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Hundreds of sexual abuse survivors have taken a significant step toward justice and accountability, as they voted unanimously to accept a $246 million settlement with the Roman Catholic Diocese of Rochester, 13WHAM.com reported. The settlement, which is part of the diocese's bankruptcy plan, is expected to be approved by a judge on September 5. READ MORE
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U.S. Battery Startup Lyten Secures $200 Million to Fund Northvolt Asset Deal
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California-based battery startup Lyten has raised $200 million from existing investors to acquire assets from the bankrupt Swedish manufacturer Northvolt AB, TechinAsia.com reported. This funding will facilitate the restart of production at Northvolt’s factory in Gdansk, Poland. READ MORE
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Judge OKs Steward Chapter 11 Liquidation Plan
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Bankruptcy Judge Christopher Lopez approved Dallas-based Steward Health Care’s joint chapter 11 liquidation plan on July 25, allowing the financially troubled system to distribute proceeds to creditors and wind down operations, Becker's Hospital Review reported. The updated 179-page plan, which was filed July 11, details the creation of two new trusts to oversee distributions and litigation recoveries and the orderly dissolution of Steward’s assets. READ MORE
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Navigating the Complexities of Retirement Plan Terminations
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Bankruptcy 2025: Views from the Bench
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National Press Club
September 26 | Washington, D.C.
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 | | Daily Roundup |
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119 JCPenney Stores Sold in Nearly $1 Billion Deal
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About five years after JCPenney filed for bankruptcy, a Boston private-equity firm will pay $947 million for 119 JCPenney stores, USA Today reported. The all-cash sale of 119 JCPenney properties to an affiliate of Onyx Partners, Ltd. was announced by Copper Property CTL Pass Through Trust on July 25. The companies expect a Sept. 8 closing of the deal for the net-lease stores, which pay rent and operating expenses. READ MORE
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Colorado Trucking Company Files for Bankruptcy
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Pierce, Colo.-based trucking company Indian Creek Express filed for chapter 11 protection in the U.S. Bankruptcy Court for the District of Colorado on Monday, Freight Waves reported. According to the bankruptcy filing, Indian Creek Express has $1 million-$10 million in liabilities to one to 49 creditors. The company has up to $50,000 in assets. READ MORE
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B. Riley Sets Date to Post Report Covering Overdue 2024 Results
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B. Riley Financial Inc. scheduled an earnings call for the middle of next month, a normally routine matter, but in this case it suggests that the financial services firm is closer to filing its long-overdue regulatory reports, Bloomberg News reported. The conference call after the market closes on Wednesday, Aug. 13 will include a discussion of 2024 performance and a preliminary financial and business update for the first half of this year, Los Angeles-based B. Riley said in a Tuesday statement. (Subscription required.) READ MORE
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Intrum Appoints New CEO Amid Recapitalization and Bankruptcy Exit
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Intrum AB, a Swedish debt collector, has announced the immediate departure of CEO Andres Rubio following the company's recapitalization and exit from U.S. chapter 11 bankruptcy proceedings, AIInvest.com reported. Rubio will be succeeded by CFO Johan Akerblom, who previously worked at Citadele Banka AS and SEB AB in Germany and the Baltics. READ MORE
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