The Wall Street Journal discusses the  $11.2 trillion in outstanding corporate debt, and considers whether companies that took advantage of “cheap money” this past year merely delayed a reckoning coming in the next economic downturn.   [WSJ; June 14, 2021]

CNN Business covers the bankruptcy filing of Washington Prime Group, an owner of more than 100

Reuters reports that eleven U.S. airlines collectively issued $12.84 billion in cash refunds to customers in 2020 for flights canceled during the pandemic.  The cash refunds come on top of billions of dollars of travel credits that are now being used at a rapid pace.  [Reuters; May 28, 2021]

The New York Times reports that

Bloomberg reports that shareholders in Latam Airlines Group SA’s chapter 11 case have organized into an ad hoc committee and hired the same counsel that represented equity holders in Hertz. Shareholders see the potential for the Latam bankruptcy to produce a recovery to common equity; similar to Hertz, Latam is a travel company, was in

The Wall Street Journal reports on the winning bid in the 36-hour auction for control of Hertz in anticipation of its emergence from bankruptcy later this summer.  The winning bidders, a group of co-investors led by Knighthead Capital Management and Certares Management, will buy the bulk of Hertz’s equity upon emergence for $2.8 billion.  Assuming

The Bankruptcy Court for the Northern District of Texas dismissed the National Rifle Association’s (“NRA”) bankruptcy case on May 11, finding that the case was not filed in good faith.  In his opinion, Judge Harlin Hale found that there was cause for dismissal because the case was filed “to gain unfair litigation advantage and … to avoid a state regulatory scheme,” neither of which he considered to be a purpose intended or sanctioned by the Bankruptcy Code.

Continue Reading NRA Bankruptcy Dismissed for Lack of Good Faith in Filing