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Q1 Bankruptcies Jump 14% As Debt Strain Rises
Bankruptcy filings in the first three months of 2026 increased 14% from the same period last year, with both commercial and consumer debtors driving the uptick amid broader economic turmoil, the American Bankruptcy Institute said in a report released Monday.
Spirit Stalking Horse Prevails, Saks Gets Exit Cash, Files Plan
Spirit Airlines named its stalking horse as the winner of 20 planes previously set for auction. Saks Global Enterprises got exit funding and proposed a Chapter 11 plan. And a Delaware bankruptcy judge largely approved Yellow Corp.'s settlement of billions in pension fund claims.
What's Happening In Bankruptcy Court This Coming Week
In the week ahead, bankruptcy courts will consider whether to dismiss a clawback suit from the estate of bankrupt crypto exchange FTX, label maker Multi-Color's bid to disband the official committee of unsecured creditors in its case, the sale of Avenger Flight Group to its stalking horse bidder, and the contested disclosure statement from urgent care facility operator Carbon Health Technologies Inc.
Q1 Bankruptcies Jump 14% As Debt Strain Rises
Bankruptcy filings in the first three months of 2026 increased 14% from the same period last year, with both commercial and consumer debtors driving the uptick amid broader economic turmoil, the American Bankruptcy Institute said in a report released Monday.
Spirit Stalking Horse Prevails, Saks Gets Exit Cash, Files Plan
Spirit Airlines named its stalking horse as the winner of 20 planes previously set for auction. Saks Global Enterprises got exit funding and proposed a Chapter 11 plan. And a Delaware bankruptcy judge largely approved Yellow Corp.'s settlement of billions in pension fund claims.
What's Happening In Bankruptcy Court This Coming Week
In the week ahead, bankruptcy courts will consider whether to dismiss a clawback suit from the estate of bankrupt crypto exchange FTX, label maker Multi-Color's bid to disband the official committee of unsecured creditors in its case, the sale of Avenger Flight Group to its stalking horse bidder, and the contested disclosure statement from urgent care facility operator Carbon Health Technologies Inc.
Expert Analysis
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Large Cap More
More than a dozen Sorrento Therapeutics shareholders sued law firm Jackson Walker LLP and the defunct biopharmaceutical company's ex-CEO for over $100 million, accusing them of conspiring to launch an unnecess... (more story)
A Second Circuit panel on Monday affirmed bankruptcy and district court decisions awarding a yacht and a $37 million escrow account to the Chapter 11 estate of Chinese exile Miles Guo, rejecting an appeal from Guo's daughter.
An attorney sanctioned for submitting fraudulent documents in a $500 million dispute over ownership of the Miss America pageant and using them to help his client put the company into bankruptcy, indicated Mond... (more story)
The Delaware Chancery Court's docket this past week featured a mix of high-profile corporate disputes, insider trading allegations, contract fights and significant rulings shaping fiduciary duty and deal litigation.
The U.S. Supreme Court asked for the federal government Monday to weigh in on a dispute from ex-managers at restaurant chain Ruby Tuesday alleging Regions Bank lost them $35 million in retirement plan benefits... (more story)
Bankrupt Spirit Airlines has canceled a Chapter 11 auction and named its stalking horse bidder, CSDS Aircraft with a $533.5 million offer, the successful buyer of its assets after receiving no other qualified bids.
The U.S. Trustee's Office and the unsecured creditors committee in Multi-Color Corp.'s Chapter 11 case shot back at the label maker's bid to disband the committee, telling a New Jersey bankruptcy judge that he... (more story)
A Delaware bankruptcy judge has mostly approved settlements that trucking company Yellow Corp. struck to resolve $7.4 billion worth of pension fund claims, finding three of the deals were outside the range of ... (more story)
Law360 is pleased to announce the formation of its 2026 Editorial Advisory Boards.
A New Jersey bankruptcy judge has rejected a lender group's request to certify a Del Monte Foods settlement order for appeal to the Third Circuit, finding that the order reflected a fact-intensive application ... (more story)
Mid Cap More
Natural gas compressor company Axip Energy Services LP received a Texas bankruptcy judge's blessing Monday on a $161 million sale of most of its assets to stalking horse bidder Service Compression LLC.
Ice Miller and Holland & Knight are among the law firms that assisted with the largest New York City real estate deals that became public last week, with Emerald Group atop the list for the second week in a row.
Bankrupt telecommunications company FTE Networks is asking a New York bankruptcy judge to approve a settlement to end a long-running fight over control of the Nevada-based company that will leave the current C... (more story)
The Delaware Chancery Court has declined to unwind the dissolution of Reinz Wisconsin Gasket LLC, ruling that an asbestos claimant failed to prove the defunct company had any meaningful assets that should have... (more story)
New Jersey-based Cross River Bank has, for now, escaped a proposed class action from an investor in solar technology company Sunlight Financial who accused the bank of overlending to risky borrowers in Sunligh... (more story)
An Illinois federal judge has thrown out a Caterpillar Inc. employee's proposed class genetic privacy suit over allegedly illegal medical history probes, saying the worker's midcase Chapter 7 bankruptcy filing... (more story)
A certified class of North Carolina borrowers are working to settle claims over excessive fees charged by their mortgage servicer for paying bills by phone, with a judge agreeing to a stay in the case.
A bankruptcy judge in Florida on Thursday blocked the founder of Bang Energy drinks from selling an island property and using proceeds to fund litigation, saying the court must determine whether the initial pu... (more story)
Pennsylvania Brewing Company Inc., which claims to be the oldest brewery in Pittsburgh, filed for Chapter 11 relief after being sued by its largest creditor.
The unsecured creditors of a Long Island nursing home operator are asking a New York bankruptcy judge to convert its Chapter 11 case into a Chapter 7 liquidation, arguing the company will run out of cash befor... (more story)