Streetbeat News

Bankruptcy

BHC

Bausch Health shares fell 21% as traders circulated a blog report suggesting the company is negotiating a potential prepackaged Chapter 11 bankruptcy with cooperative creditors to address its balance sheet issues.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:12 pm

VWE

Vintage Wine Estates shares are trading lower following the company's announcement of a bankruptcy filing, voluntary delisting, and SEC deregistration.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 1:15 pm

AMC

DIS

AMC Entertainment Holdings Inc (NYSE:AMC) has reached an agreement with creditors to restructure its debt, extending maturities from 2026 to 2029. CEO Adam Aron highlighted the importance of this move for the company's future, especially with a strong lineup of upcoming blockbuster films. The refinancing aims to position AMC favorably for a box office recovery, with expected strong year-over-year growth in the coming years.

Portfolio Pulse from Adam Eckert

July 23, 2024 | 6:13 pm

JNJ

Johnson & Johnson (NYSE:JNJ) faced a legal setback as a New Jersey judge rejected its bid to disqualify the law firm Beasley Allen from representing plaintiffs in talc-related cancer claims. This complicates JNJ's attempt to resolve over 60,000 claims through a $6.48 billion bankruptcy plan. The company plans to appeal the ruling.

Portfolio Pulse from Vandana Singh

July 22, 2024 | 12:08 pm

CONN

Furniture retailer Conn's Inc. is planning to close around 100 stores and liquidate inventory as part of a potential bankruptcy filing. The company is also seeking financing to support the bankruptcy process.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 7:26 pm

ASLN

ASLAN Pharmaceuticals Ltd (NASDAQ:ASLN) shares dropped by 38.7% to $0.68 after announcing the voluntary liquidation of its Singapore-incorporated subsidiary due to financial liabilities. The parent company also plans to apply for liquidation under Cayman law and will move its trading to the over-the-counter market following a delisting notice from Nasdaq.

Portfolio Pulse from Henry Khederian

July 17, 2024 | 4:10 pm

AMX

America Movil is open to mergers and acquisitions in Chile and is considering alternatives with Chile's WOM, which is currently in Chapter 11 bankruptcy.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 3:44 pm

ASLN

ASLAN Pharmaceuticals shares are trading lower following the announcement that its Singapore-incorporated, sole operating subsidiary has filed for voluntary liquidation.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:07 pm

ASLN

ASLAN Pharmaceuticals announced that its sole operating subsidiary has filed for voluntary liquidation, resulting in the immediate termination of all employees at ASLAN SG and fellow subsidiary ASLAN Pharmaceuticals.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 11:28 am

DLTNF

SNDL

Delta 9 Cannabis Inc. has obtained creditor protection under the CCAA due to aggressive actions by SNDL Inc., which acquired Delta 9's senior secured debt. SNDL's strategy involves pressuring companies into bankruptcy to bid for their assets. FIKA Company has agreed to act as a plan sponsor for Delta 9's CCAA proceedings, proposing to acquire certain assets and provide interim financing.

Portfolio Pulse from Jelena Martinovic

July 16, 2024 | 3:35 pm