New York Southern coverage

chapter 11 and restructuring coverage from New York Southern.

34 articles

Showing 13 to 24 of 34 coverage articles

Week of May 4, 2026

McClatchy: Pension Distress Termination, Chatham 363 Sale, and End of Family Control

McClatchy filed chapter 11 in SDNY on Feb. 13, 2020, with $703M in funded debt and an $805M underfunded pension. The PBGC terminated the pension covering 24,000+ participants; Chatham acquired substantially all assets via a $312M 363 sale, ending 163 years of McClatchy family control.

PrenegotiatedMedia, sports & entertainment

May 4

Raízen Files Chapter 15 to Backstop R$98 Billion Brazilian Out-of-Court Workout

Cosan-Shell ethanol and fuel giant Raízen S.A. filed chapter 15 in SDNY on March 12, 2026 (case 26-10528) to backstop a Brazilian recuperação extrajudicial covering R$98.63 billion. The court granted recognition as a foreign main proceeding on April 8, 2026.

PrepackagedFood & agriculture

May 4

Extended Stay: LBO Collapse and Centerbridge-Paulson-Blackstone Sale

Extended Stay Inc. filed chapter 11 in June 2009 following the collapse of the $8B Lightstone LBO. The Centerbridge-Paulson-Blackstone consortium acquired the 680-hotel platform for ~$3.925B at a contested May 2010 auction. The plan was confirmed July 2010 and went effective October 2010.

FreefallTravel, leisure & hospitality

May 4

RM Bakery: Insider DIP Converts to Equity in Confirmed SDNY Chapter 11

RM Bakery LLC, a Bronx wholesale artisanal bakery, filed chapter 11 in SDNY on June 15, 2020. A $1.5M insider DIP facility converted to equity at confirmation. GUC recovery was ~6.25 cents on $4 million in claims. Plan effective January 27, 2025; post-confirmation default cured December 31, 2025.

FreefallFood & agriculture

May 4

A.B.C. Carpet Co.: 888 Capital Credit Bid and 40.7% GUC Recovery

abc carpet & home filed chapter 11 in the Southern District of New York on September 8, 2021. 888 Capital Partners credit bid acquired all assets; a Rule 9019 settlement subordinated ~$40M of insider claims. Unsecured creditors received a 40.7% distribution.

Consumer & retail

May 4

MF Global Holdings: Liquidating Plan Delivers 100% Customer Recovery After 2011 Collapse

MF Global Holdings Ltd. filed chapter 11 in SDNY on October 31, 2011, alongside a parallel SIPA liquidation of its broker-dealer subsidiary MF Global Inc. A Joint chapter 11 Plan of Liquidation went effective June 4, 2013, delivering 100% net equity recovery to customers.

FreefallFinancial services

May 4

Purdue Pharma: $7.4 Billion Plan Goes Effective, Knoa Pharma Begins Operations

Purdue Pharma's chapter 11 plan went effective April 1, 2026, completing a six-year mass-tort restructuring. The $7.4 billion Sackler settlement and $8.344 billion DOJ resolution are now operative. Knoa Pharma LLC began operations May 1 as the public-benefit pharmaceutical successor.

FreefallHealthcare & life sciences

Week of March 23, 2026

Mar 23

LuxUrban Hotels Converts to Chapter 7 in 37 Days Amid 85 Lawsuits

LuxUrban Hotels fell from chapter 11 to chapter 7 in 37 days, with 85 lawsuits, unpaid wages, shuttered hotels, and a $118.6M tax claim.

FreefallTravel, leisure & hospitality

Week of March 16, 2026

Mar 19

Troika Media Group: Blue Torch Sale and Liquidation

Troika Media Group filed chapter 11 in SDNY on December 7, 2023 after Converge acquisition debt and escrow disputes triggered a liquidity crisis. The case moved through a Blue Torch-controlled 363 sale, settlement of a $29.1 million escrow fight, and a liquidation plan effective March 29, 2024.

Media, sports & entertainment

Mar 19

Lehman Brothers: Largest U.S. Chapter 11 Still Winding Down

Lehman Brothers Holdings Inc. filed chapter 11 in the Southern District of New York on September 15, 2008. This post covers the liquidity crisis, Barclays sale, plan confirmation, creditor recoveries, and the still-open LBHI wind-down, including the 32nd distribution scheduled for April 2, 2026.

FreefallFinancial services

Mar 19

Broadway Realty: $451.3M Summit Sale Closes

Broadway Realty I Co. and 81 Pinnacle Group affiliates filed chapter 11 with roughly $564M in Flagstar mortgage debt on a 93-building NYC rent-stabilized portfolio. The confirmed liquidating plan closed a $451.3M Summit Gold sale on March 31, 2026.

Real estate & construction

Mar 16

Genesis Global Holdco: $3 Billion Wind-Down Plan

Genesis Global Holdco and two affiliates filed chapter 11 in SDNY after losses tied to Three Arrows Capital, FTX, and Alameda. The post tracks the confirmed wind-down plan, trust-asset sales, Gemini settlement effects, and the framework for roughly $3 billion in customer distributions.

Financial services