June 28, 2023
Bankrupt movie theater chain owner Cineworld Group PLC received Texas court approval Wednesday for its Chapter 11 reorganization plan that slashes $4 billion of debt from its balance sheet and will enable it to emerge as an operational company.
June 16, 2023
A Texas bankruptcy judge approved a deal Thursday to settle theater chain Cineworld Group's dispute with its U.S. advertising provider and denied a request for an official shareholder's committee as the company moves into the final stretch of its Chapter 11 case.
May 02, 2023
A Texas bankruptcy judge approved Cineworld Group's proposed Chapter 11 exit financing Tuesday after the theater chain said it had reached a deal with objecting lenders to give them a share of the proposed $800 million financing backstop.
April 20, 2023
A Texas bankruptcy judge on Thursday gave more time to a group of minority lenders of Cineworld Group to secure alternative financing for a backstop commitment for the bankrupt cinema operator's potential Chapter 11 exit, but cautioned it was their last chance to come up with a better deal.
April 03, 2023
Bankrupt movie theater chain Cineworld said Monday it has ended its efforts to find a buyer for the majority of its theaters and has instead reached an agreement with lenders to implement an equity-swap Chapter 11 plan that will cut more than $4.5 billion in debt.
February 24, 2023
Movie theater chain Cineworld told its investors Friday that it has received no purchase offers in Chapter 11 sufficient to cover its debts and leave any money for shareholders, and that any nonsale bankruptcy plan is also unlikely to provide for equity recovery.
January 04, 2023
Movie theater chain Cineworld told a Texas bankruptcy judge Wednesday it will be picking up the pace of its Chapter 11 case, saying its current timetable calls for it to have a restructuring or sale plan ready for a creditor vote by March.
October 31, 2022
A Texas bankruptcy judge on Monday gave movie theater chain Cineworld final approval to tap into $1.9 billion in Chapter 11 financing, after hearing that the company had struck a deal with creditors to seek a buyer and pay at least $20 million in back rent.
October 24, 2022
North America's top movie theater advertising and promotion network has sued bankrupt Regal Cinemas in Texas, accusing Regal of exploiting its parent's Chapter 11 to breach long-term exclusivity, non-competition and related agreements despite a purported $1 billion-plus damage claim risk.
September 15, 2022
The Boy Scouts of America obtained approval for its Chapter 11 plan, the world's second-largest movie theater chain hit bankruptcy, and an examiner was appointed in the Celsius Network cryptocurrency case to investigate management's prepetition conduct. This is the week in bankruptcy.