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Once high-flying company gained a $1bn valuation five years ago, but has since struggled to make profits
Also in this newsletter: Adobe abandons $20bn Figma deal, drugs by drone, sky’s the limit for Ryanair boss
‘Zombie’ companies lose lifeline as increased borrowing costs compound withdrawal of pandemic-era support
Members of the company’s founding family fight to uphold protections from $6bn opioid bankruptcy settlement in closely watched case
And more on the zombie notpocalypse
Easy money has not bred the undead
Companies, including Carvana, are turning to form of restructuring to preserve cash
Following years of low interest rates, creative destruction should be embraced
Japanese conglomerate has committed more than $16bn since initial investment in 2017
As office space group navigates Chapter 11 protection, rivals must also face down threats from tech and hybrid working
Desk-renting company seeks to restructure more than $13bn in lease obligations through Chapter 11 process
PJT Partners rare deal adviser to show revenue growth in 2023
We love a bit of internecine creditor brutality
David R Jones in Houston faces an inquiry over romantic relationship with a lawyer
You’ll get nothing, and like it!
Hedge funds seize control of Mallinckrodt in latest case exposing flaws of US mass tort playbook
It’s a doozy
Aggressive tactics are seeping into bankruptcy financing
Drug producer’s prospects are poor enough that its reset enterprise value is just $3bn
Property group’s 2021 bond default triggered sector-wide liquidity crisis in China
Investor cuts exposure to failed US trucking company after jockeying over debtor-in-possession financing
Justices will consider whether the law permits the waiver of future claims against parties not in bankruptcy
Loss of 30,000 jobs comes as trucking industry contends with softer shipping volumes and rising costs
Group’s projections make a wind-down rather than restructuring a perplexing choice
US courts resist financial engineering as fears grow that litigation could continue for years.
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