Bloomberg Law

SVB Shareholders Tap Advisers in Push for Bankruptcy Payout

Shareholders of SVB Financial Group have hired Ducera Partners and Brown Rudnick to help them get paid in the bankrupt holding company’s restructuring case, according to people familiar with the situation.

Anaergia’s Rialto Bioenergy Subsidiary Starts Chapter 11

Anaergia says one of its subsidiaries, Rialto Bioenergy Facility, started voluntary Chapter 11 restructuring proceedings in US Bankruptcy Court for Southern District of California.

Bankrupt Hess Unit Tees Up $106 Million Asbestos Victim Plan

Global oil and gas company Hess Corp. would pay at least $106 million under a plan to resolve hundreds of asbestos claims tied to its bankrupt subsidiary, according to court documents.

Wall Street Giants Clash with Serta Over Restructuring Plan

After four months sparring in bankruptcy court, Serta Simmons Bedding LLC and its snubbed lenders had a final standoff on Thursday as the company asked a federal judge to approve its restructuring plan.

FTX’s Bankers, Endorsers Should Face Class Suits, Lawyers Argue

Financiers and celebrity endorsers of the failed FTX cryptocurrency exchange should face consolidated class-action lawsuits over the billions lost in the meltdown of Sam Bankman-Fried’s digital-asset empire, investors’ lawyers argued Thursday.


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Jennifer Kennedy Park
Cleary Gottlieb Steen & Hamilton

Latest Stories

Archegos Insurer Sues to Avoid Covering Costs of Firm’s Failure

An insurer for Bill Hwang and his Archegos Capital Management is suing to avoid paying any costs incurred by Archegos, Hwang and other senior executives of the investment firm from a separate suit by a former employee who claims the implosion of the family office cost him as much as $50 million.

Mallinckrodt Lenders Pitch Restructuring as Opioid Payment Nears

A group of first-lien lenders to Mallinckrodt Plc has pitched a proposal to the drugmaker that would allow them to bid for the company’s assets through another bankruptcy as a $200 million payment owed under its settlement in the opioid crisis comes due, according to people familiar with the matter.

Direct Lenders Are Quietly Taking Over Troubled Firms: The Brink

Welcome to The Brink. It’s Katharine Hidalgo and Giulia Morpurgo in London, where more and more private lenders are taking over troubled firms they have invested in. But before getting into that, let’s look at what SVP’s founder Victor Khosla told Rachel Butt in New York about prospects for distressed debt investors. We also have the latest on Casino and recovery on defaulted leveraged loans. Follow this link to subscribe. Send us feedback and tips at or Tweet/DM to @rachel_butt.