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WeWork said Tuesday it entered into a seven-day forbearance agreement with its noteholders after skipping interest payments earlier this month. Photo: Ted Shaffrey/Associated PressWeWork is planning to file for bankruptcy as early as next week, according to people familiar with the matter, in what would mark a stunning reversal for the flexible-office-space venture that was once valued at $47 billion. New York-based WeWork is considering filing a chapter 11 petition in New Jersey, the people said.

Persons: WeWork, Ted Shaffrey Locations: New York, New Jersey

U.S. Bankruptcy Judge David R. Jones resigned from the Southern District of Texas bench on Sunday. Photo: reuters tv/ReutersJudge David R. Jones became the nation’s leading bankruptcy judge by making his court an attractive place for troubled businesses to face their creditors. His sudden departure over a previously undisclosed romantic relationship taints that legacy. Jones turned his Houston courtroom into the top landing spot for big bankruptcies over the past decade by appealing to corporate management teams and their high-priced advisers. He handled more major corporate bankruptcies than any other judge in recent years, including department stores JCPenney and Neiman Marcus and oil-and-gas driller Chesapeake Energy .

Persons: David R, Jones, Neiman Marcus Organizations: Southern, Southern District of, reuters, Reuters, JCPenney, Chesapeake Energy Locations: Southern District, Southern District of Texas, Houston

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/bankruptcy-judge-jones-to-stop-handling-complex-cases-after-relationship-with-lawyer-revealed-fad88b0c

Persons: Dow Jones, fad88b0c

☆ ILWU Dockworkers Union Files for Bankruptcy to Weather Port Lawsuit
▼ + stars: | 2023-10-01 | by ( Andrew Scurria | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/west-coast-dockworkers-union-files-for-bankruptcy-over-port-lawsuit-cc5f0c5c

Persons: Dow Jones

☆ West Coast Dockworkers Union Files for Bankruptcy to Weather Port Lawsuit
▼ + stars: | 2023-10-01 | by ( Andrew Scurria | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/west-coast-dockworkers-union-files-for-bankruptcy-over-port-lawsuit-cc5f0c5c

Persons: Dow Jones

☆ Rite Aid Plans to Shut Down Hundreds of Stores in Bankruptcy
▼ + stars: | 2023-09-23 | by ( Alexander Gladstone | Andrew Scurria | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/rite-aid-planning-to-shut-down-hundreds-of-stores-in-bankruptcy-de7967db

Persons: Dow Jones, de7967db

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Organizations: Wall Street

☆ Johnson & Johnson’s Second Talc Bankruptcy Case Thrown Out
▼ + stars: | 2023-07-28 | by ( Akiko Matsuda | Andrew Scurria | ) www.wsj.com time to read: 1 min

Organizations: Wall Street

☆ U.S. Backs Sale of Citgo to Pay Venezuela’s Debts
▼ + stars: | 2023-05-01 | by ( Andrew Scurria | ) www.wsj.com time to read: 1 min

☆ Johnson & Johnson’s Talc Plan Spotlights Chapter 11 Voting Power
▼ + stars: | 2023-04-09 | by ( Andrew Scurria | ) www.wsj.com time to read: 1 min

Johnson & Johnson’s latest plan to resolve mass cancer lawsuits through bankruptcy could force some cosmetic-talc users and their lawyers into a settlement they don’t want, highlighting the leverage that voting majorities enjoy in chapter 11. Plaintiffs’ lawyers are divided over the healthcare-products giant’s $8.9 billion offer to compensate women alleging J&J’s talcum-based baby powder caused them to develop gynecologic cancer or asbestos disease. Some law firms have rejected J&J’s overture, while others representing nearly...

☆ Johnson & Johnson Seeks $9 Billion Settlement of Talc Lawsuits
▼ + stars: | 2023-04-05 | by ( Peter Loftus | Andrew Scurria | ) www.wsj.com time to read: 1 min

Johnson & Johnson has proposed paying at least $8.9 billion to thousands of people who sued the company alleging that their use of J&J’s talc-containing powders caused cancer, in what would be one of the biggest product-liability settlements ever. The company also said Tuesday its LTL Management LLC unit, which J&J had established to deal with the litigation, has refiled for bankruptcy protection to seek approval of the plan to make the payments over 25 years.

☆ Johnson & Johnson Proposes Paying $9 Billion to Settle Talc Lawsuits
▼ + stars: | 2023-04-04 | by ( Peter Loftus | Andrew Scurria | ) www.wsj.com time to read: 1 min

Johnson & Johnson has stopped selling versions of Johnson’s Baby Powder that contain talc in the U.S. and Canada. Johnson & Johnson said it has proposed to pay at least $8.9 billion to thousands of people who sued the company alleging that their use of J&J’s talc-containing powders caused cancer, in what would be one of the biggest product-liability settlements ever. The company said Tuesday its LTL Management LLC unit has refiled for bankruptcy protection to seek approval of a plan to pay $8.9 billion over 25 years. J&J said more than 60,000 claimants have committed to support the proposed resolution, which requires approval in bankruptcy court.

☆ BlockFi Seeks to Strip Sam Bankman-Fried’s Investment Vehicle of Bankruptcy Protections
▼ + stars: | 2023-02-17 | by ( Andrew Scurria | ) www.wsj.com time to read: 1 min

Crypto lender BlockFi Inc. has asked for a court ruling stripping Sam Bankman-Fried‘s offshore investment vehicle of the protections of chapter 11, citing the recent seizure of its assets by federal prosecutors. BlockFi, itself bankrupt since November, sought Thursday to dismiss the bankruptcy case of Emergent Fidelity Technologies Ltd., the offshore investment vehicle that Mr. Bankman-Fried used to purchase a 7.6% stake in Robinhood Markets Inc. The chapter 11 case serves little purpose and was only filed to undermine BlockFi’s...

☆ Bed Bath & Beyond Faces Debt Deadline as Bankruptcy Looms
▼ + stars: | 2023-02-01 | by ( Suzanne Kapner | Andrew Scurria | ) www.wsj.com time to read: 1 min

The clock is ticking for Bed Bath & Beyond Inc. The home-goods chain’s lenders have cut off credit and it hasn’t secured a buyer to acquire its business, leaving it with dwindling options to avoid a bankruptcy filing. With chapter 11 looking increasingly likely, the focus shifts to what’s next for the retailer and what shape it might take coming out of a restructuring. Here is what we know.

Johnson & Johnson ‘s loss in a federal appeals court over baby-powder litigation could force the health-products company to defend thousands of lawsuits case by case, just as it navigates the biggest restructuring in its 137-year history. The decision by the Third U.S. Circuit Court of Appeals rejecting J&J’s efforts to use bankruptcy proceedings to handle talc-related lawsuits means the company won’t be able to resolve the allegations as soon as it could have and in a single court, according to legal experts and analysts.

☆ Here’s What’s Next for Bed Bath & Beyond as Bankruptcy Looms and Stores Close
▼ + stars: | 2023-01-31 | by ( Suzanne Kapner | Andrew Scurria | ) www.wsj.com time to read: 1 min

☆ Here’s What’s Next for Bed Bath & Beyond as Bankruptcy Looms
▼ + stars: | 2023-01-31 | by ( Suzanne Kapner | Andrew Scurria | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond Inc.’s path to restructure its business in bankruptcy is narrowing, as the home-goods retailer struggles to find financial support to keep its operations funded and avoid liquidation, people familiar with the matter said. The company, which is expected to file for bankruptcy soon, faces limited options to reorganize as a going concern, these people said: Its lenders have cut off credit, it hasn’t secured a buyer to acquire its business, it is struggling to raise financing to survive chapter 11 even in shrunken form and many vendors have stopped shipping goods to the retailer. Discussions are continuing and a financing deal could still materialize, these people said.

☆ List of FTX Backers Expands to Include Kraft Group, Other Family Offices
▼ + stars: | 2023-01-11 | by ( Andrew Scurria | ) www.wsj.com time to read: 1 min

FTX raised equity capital before its collapse from Robert Kraft‘s Kraft Group and entertainment giant Endeavor Group Holdings Inc., among other newly-identified backers who now face the loss of their investments in the once-highflying exchange. The crypto firm’s chapter 11 administrators disclosed a new roster of its financial backers that listed affiliates of Kraft Group and entertainment giant Endeavor as holding common and preferred stock. FTX also disclosed that it raised capital from affiliates of investment offices including Daniel Och‘s Willoughby Capital LLC and Blue Pool Capital, a Hong-Kong office backed by Alibaba Group co-founder Joseph Tsai, according to the shareholder list, filed in bankruptcy court on Tuesday.

☆ FTX Customers Want Identities Redacted From Bankruptcy Filings
▼ + stars: | 2022-12-29 | by ( Andrew Scurria | ) www.wsj.com time to read: 1 min

A group of FTX’s international customers asked for a court order shielding their names from the public, spotlighting a privacy issue that has divided bankruptcy courts in other crypto-related cases. Unnamed customers of FTX.com, the failed company’s largest exchange platform outside the U.S., said in court papers Wednesday their interest in keeping their identities and contact information secret trumps the public’s interest in an open and transparent bankruptcy process. Public disclosure of customer identities puts them at risk of identity theft and cyber scams, and could diminish whatever value remains in FTX, according to the customer group.

☆ Bitcoin Miner Core Scientific Files for Chapter 11
▼ + stars: | 2022-12-21 | by ( Andrew Scurria | Will Feuer | ) www.wsj.com time to read: 1 min

Cryptocurrency miner Core Scientific Inc. filed for chapter 11 to hand control to creditors, a further indication of the squeeze on mining companies from declines in the price of bitcoin and rising electricity costs. Shares of Core Scientific, which agreed to go public last year through a merger with a special-purpose acquisition company, declined another 15% to 18 cents a share in premarket trading on Wednesday. The company’s shares were already down 98% this year as it warned investors about increasingly-dire financial strains.

Avaya Holdings Corp. is nearing a chapter 11 bankruptcy filing to restructure its balance sheet as it looks to turn around its business and move past problems surrounding the company’s accounting, people familiar with the matter said. Avaya disclosed earlier this week it has reviewed various restructuring proposals from competing creditor groups. One plan, supported by a senior lender group including Apollo Global Management , would significantly reduce Avaya’s debt load through chapter 11, wipe out shareholders and, pending the completion of an internal investigation into controls over financial reporting, provide directors and executives with releases from potential litigation.

☆ FTX Collapses Into Bankruptcy System That Still Hasn’t Figured Out Crypto
▼ + stars: | 2022-11-16 | by ( Andrew Scurria | Soma Biswas | ) www.wsj.com time to read: 1 min

The U.S. bankruptcy system will hash out the largest-ever collapse of a cryptocurrency exchange through a legal process that has barely begun to answer how holders of digital currencies will fare in an insolvency. Bankruptcy courts haven’t had the chance to decide complex legal questions around crypto ownership when an exchange or lender goes bust. As FTX’s chapter 11 case gets under way, the question of who even owns digital currencies—the exchanges or the customers who made the deposit—remains unsettled.

☆ Windstream Chapter 11 Plan Withstands Bondholder Appeal
▼ + stars: | 2022-10-25 | by ( Andrew Scurria | ) www.wsj.com time to read: 1 min

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