Texas Southern coverage

chapter 11 and restructuring coverage from Texas Southern.

107 articles

Showing 25 to 36 of 107 coverage articles

Week of May 18, 2026

Miyoshi America: $20M Talc 524(g) Trust and Prepackaged Plan

Miyoshi America, a Connecticut cosmetic ingredient manufacturer, filed a prepackaged chapter 11 in S.D. Texas on April 27, 2026, to resolve over 200 pending talc injury cases through a $20M 524(g) channeling trust backed by parent Miyoshi Kasei.

PrepackagedIndustrials & manufacturing

May 18

FAT Brands Wins Approval of Four Brand Sales, Files $445.9M Liquidation Plan

FAT Brands' chapter 11 reached plan stage: four brand-by-brand sale orders entered May 19, 2026, and a Joint Plan of Liquidation establishing a Liquidation Trust — with $445.9M in unsecured claims and a $9.23M wind-down fund — was filed May 22.

FreefallFood & agriculture

May 18

First Brands Group: Liquidating Plan Follows $2.3B Fraud Collapse

First Brands Group filed chapter 11 in September 2025 amid alleged $2.3B factoring fraud. By May 2026 the case resolved into a liquidating plan, a $80M section 363 TMD sale, and a U.S. Trustee motion to convert or dismiss.

FreefallIndustrials & manufacturing

May 18

Saks Global: $1.24B DIP Plan Confirmed, Debt Cut Nearly 75%

Saks Global filed chapter 11 in January 2026 with $3.4B in funded debt following its Neiman Marcus acquisition. The court confirmed a dual-path plan June 5, 2026: DIP lenders own the reorganized company covering Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman; Saks OFF 5TH liquidates.

FreefallConsumer & retail

Week of May 11, 2026

May 14

The LYCRA Company: Prepackaged Plan Confirmed to Eliminate $1.5 Billion in Debt

The LYCRA Company, the global spandex and fiber technology provider, filed a prepackaged chapter 11 in S.D. Tex. to eliminate $1.534 billion in funded debt. Under the plan, senior secured term loan lenders receive 100% of reorganized equity, while Euro and Dollar noteholders receive only warrants.

PrepackagedConsumer & retail

May 13

GenesisCare: $1.7 Billion Cross-Border Chapter 11, 363 Sale and ROW Reorganization

GenesisCare filed SDTX chapter 11 June 2023 with $1.7B in funded debt. The Australian oncology operator pursued a 363 sale of its U.S. business alongside a reorganization of its Australian, U.K., and Spanish operations. Plan effective February 2024.

FreefallHealthcare & life sciences

May 13

Society Pass: Jointly Administered SoPa Chapter 11 Opens in Houston

Society Pass and SoPa opened jointly administered chapter 11 cases in Houston. The early docket shows Society Pass as lead debtor, SoPa's $11.85M disputed claim, and no filed DIP terms yet.

FreefallConsumer & retail

Week of May 4, 2026

May 5

Twin Peaks and Smokey Bones Parent Files Chapter 11; $413M WBS Notes Back 363 Auction

Twin Hospitality Group Inc., parent of Twin Peaks and Smokey Bones, filed chapter 11 in S.D. Texas on March 18, 2026 as part of the FAT Brands bankruptcy. The case involves $413M in whole business securitization debt and a 363 sale auction targeting April 28, 2026.

FreefallFood & agriculture

May 5

Serta Simmons Bedding: 2020 Uptier, Fifth Circuit Reversal, and Damages Remand

Serta Simmons Bedding filed chapter 11 in S.D. Tex. on January 23, 2023. The plan confirmed June 14, 2023 went effective June 29. In December 2024, the Fifth Circuit reversed the 2020 uptier and excised the plan's lender indemnification; damages remand pending.

PrenegotiatedIndustrials & manufacturing

May 5

Diebold Nixdorf: $1.25B DIP-to-Exit and the First U.S./WHOA Cross-Border Restructuring

Diebold Nixdorf filed a prepackaged chapter 11 in S.D. Tex. on June 1, 2023 alongside a Dutch WHOA scheme. Confirmed July 12, 2023; effective Aug 11; $1.25B DIP converted to a 5-year exit term loan. First Lien took 98% of new equity; Class 7 was crammed down.

PrepackagedFinancial services

May 5

Sungard AS: Second Chapter 11 and Three-Part Asset Sale

Sungard AS New Holdings filed a second chapter 11 in April 2022, three years after a prepackaged 2019 restructuring. The IT services company sold assets to 365 Data Centers and 11:11 Systems for $60M, confirmed a wind-down plan Oct. 17, 2022, with first lien lenders sustaining losses.

PrenegotiatedTechnology & telecom

May 5

NBG Home: Quoizel Emerges From Sycamore's $413M Home Décor Chapter 11

Sycamore-backed home décor wholesaler NBG Home filed chapter 11 in S.D. Texas Feb 2023 with $413M in funded debt. KKR and Silver Point provided $60M in DIP financing and served as plan sponsors. The hybrid plan reorganized Quoizel and wound down the AHD entities via cramdown confirmation.

PrenegotiatedConsumer & retail

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