Bankruptcy News

SAN JOSE, Calif. & HOUSTON--(BUSINESS WIRE)--Linqto, Inc. today announced that Kroll, an independent provider of global financial and risk advisory solutions, was selected as Trustee for the Liquidating Trust, one of the two customer recovery options in Linqto’s confirmed Plan of Reorganization (Plan) that was approved by the U.S. Bankruptcy Court for the Southern District of Texas. This selection replaces Forge Global Inc., which Linqto is suing for damages following Forge’s abrupt termination...

MENLO PARK, Calif.--(BUSINESS WIRE)--Character Technologies Inc. (“Character.ai” or the “Company”), a pioneering artificial intelligence entertainment platform, today announced that it has commenced a voluntary Chapter 11 case in the U.S. Bankruptcy Court for the District of Delaware (the “Court”) to facilitate a value-maximizing sale of all or substantially all of its assets (the “Sale Process”). The Company intends to continue operating its platform as it conducts the Sale Process. Before the...

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--Certain bondholders (the “Bondholders”) of the Puerto Rico Electric Power Authority (“PREPA”) today issued the following statement regarding the Financial Oversight and Management Board for Puerto Rico’s (“FOMB”) approval of a $5.9 billion, ten-year temporary power generation contract (the “Power Generation Contract”) between PREPA and Power Expectations, LLC, Enchanted Rock, LLC, and Reyes Contractor, LLC. For close to a decade, the FOMB has directly ove...

PHOENIX, Ariz.--(BUSINESS WIRE)--Leslie's, Inc. (“Leslie’s” or the “Company”), the largest and most trusted direct-to-customer brand in the U.S. pool and spa care industry serving residential customers and pool professionals nationwide, today announced that it has entered into a Restructuring Support Agreement (“RSA”) with a group of its existing lenders that lays the groundwork for transactions that will significantly strengthen the Company’s capital structure, rationalize its retail operation...

MIAMI--(BUSINESS WIRE)--Atlas Grove Funds $180 Million Facility as Harvest Sherwood Plan of Reorganization Becomes Effective...

NEW YORK--(BUSINESS WIRE)--LIV Golf Incorporated and its affiliates (collectively, “LIV Golf” or the “Company”) announced that the United States Bankruptcy Court for the District of New Jersey (the “Court”) granted interim approval of all of the Company’s First Day Motions in connection with its voluntary chapter 11 cases at its First Day Hearing on September 9, 2026. Among other relief, the Court granted interim approval for LIV Golf to access $14 million of the $49.6 million in debtor-in-poss...

NEW YORK--(BUSINESS WIRE)--LIV Golf Incorporated and its affiliates (collectively, “LIV Golf” or the “Company”) today announced that it has entered into a Restructuring Support Agreement (“RSA”) with BC Partners Advisors L.P., the credit business of BC Partners (“BC Partners Credit”), which contemplates a proposed recapitalization transaction (the “Transaction”). To effectuate the Transaction, which is intended to preserve the Company’s business as a going concern through an innovative player-f...

IRVING, Texas--(BUSINESS WIRE)--Alkegen (the “Company”), a leading specialty materials manufacturer, today announced that the United States Bankruptcy Court for the Northern District of Texas (the “Court”) has confirmed its Chapter 11 Plan of Reorganization (the “Plan”), marking a significant milestone toward completion of the Company’s restructuring. The Plan is supported by a supermajority of the Company’s key financial partners and reflects the Restructuring Support Agreement (the “RSA”) tha...

SAN DIEGO--(BUSINESS WIRE)--Heritage Global Partners (“HGP”), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL) and a worldwide leader in asset advisory and auction services, will conduct two online auctions of cabinet manufacturing, woodworking and stone fabrication equipment formerly used in Wren Manufacturing’s U.S. operations in Wilkes-Barre, Pennsylvania. The sales are being conducted by order of the U.S. Bankruptcy Court, Case No. 1:26-bk-10581, which features equipment used in the prod...

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--West Marine, Inc. (together with its subsidiaries and affiliates, “West Marine” or the “Company”), the nation's leading omnichannel provider of marine aftermarket products, announced that it has successfully emerged from Chapter 11, marking the completion of its comprehensive financial restructuring and positioning West Marine to better serve its customers across every channel. The Company exits Chapter 11 with increased flexibility to continue investing...