First Brands will seek approval of its plan disclosure statement, Spirit Airlines will make a bid for postpetition financing, Bestar Inc. will seek recognition of its foreign insolvency as its primary bankruptcy proceeding, and Carbon Health will take its plan before a Texas judge for confirmation.
The U.S. has seen a spike in filings for Chapter 15 recognition of international restructuring proceedings in the first quarter of 2026, an increase that attorneys say reflects a growing number of companies keeping their main bankruptcy proceedings in their home countries.
Over the past half-decade, aftermarket boat equipment retailer West Marine overinvested in inventory and was buffeted by changing consumer demand, the COVID-19 pandemic, poor weather conditions and underperforming stores, eventually running aground in Chapter 11 on May 17.