A bankrupt diocese located north of San Francisco has hurled a challenge at its insurers as it attempts to mediate its way to a Chapter 11 reorganization plan, saying the church is prepared to take a page out of another bankrupt Catholic institution's book and move forward without holdout insurers.
A Texas court ruled that lenders excluded from Serta Simmons Bedding's uptier restructuring are owed more than $400 million. A Missouri judge approved a $46.7 million data breach settlement for 23andMe claimants, while the Second Circuit ruled an investor can keep its Bed Bath & Beyond stock profits. Linqto won approval to pay off its Chapter 11 loan with securities, and Viridis Chemical got its Chapter 11 liquidation plan confirmed after its asset sale.
Jewelry house Lugano Diamonds will seek approval of its bankruptcy plan disclosure, as will battery recycler Ascend Elements, and drug research company Inotiv Inc. will ask for confirmation of its Chapter 11 plan.