Bankruptcy: Last News

Naman Ramachandran Debt-laden exhibition giant Cineworld group and its subsidiaries have entered into a restructuring support agreement and a backstop commitment agreement with lenders holding and controlling approximately 83% of the group’s term loans due 2025 and 2026 and revolving credit facility due in 2023. If implemented, the proposed restructuring is expected to reduce the group’s Chapter 11 companies’ funded indebtedness by approximately $4.53 billion, principally through lenders receiving equity in the reorganised group in exchange for the release of their claims. It is also expected to raise $800 million in aggregate gross proceeds, through a fully backstopped equity offering to the legacy lenders and a direct equity offering to them. In addition, it will provide $1.46 billion in new debt financing to the Chapter 11 Companies upon their emergence from the Chapter 11 cases.

National CineMedia said today it’s negotiated a second extension of the grace period on interest payments originally due Feb. 15.

Katie Price has blamed her bankruptcy on two people in her past - as she vows they'll never be able to take her Mucky Mansion. The model was declared bankrupt in 2019 and had previously agreed to pay her creditors in £12,000 monthly instalments. The star, who was at one point was worth over £45million, has still been enjoying lavish holidays and cosmetic surgeries in recent months.

Channel 5 The Jeremy Vine Show today. Katie took aim at ITV I'm A Celebrity co-star and ex Peter Andre as her current partner - and Love Island star - Carl Woods appeared in the wings to support her. Katie was grilled by Jeremy on her bankruptcy and breast enhancement surgery.

Giant theater chain Cineworld will convene a meeting of its shareholders on April 20 related to the Chapter 11 process currently underway in a Texas bankruptcy court.

Diamond Sports Group, operator of the largest string of regional sports networks in the U.S., has filed for Chapter 11 bankruptcy protection.

Todd Spangler NY Digital Editor Alex Jones, the Infowars far-right conspiracy figure who has been ordered to pay a staggering $1.5 billion to families of Sandy Hook victims over his lies about the deadly massacre, would receive a $520,000 yearly salary under a proposed bankruptcy plan his company submitted this week. Jones’ Free Speech Systems, which is the parent company of online outlet Infowars, filed a Chapter 11 reorganization plan Tuesday with a bankruptcy court in Texas. Under the proposal, which requires court approval, Jones’ company expects it would have $7 million to $10 million per year after expenses to pay creditors, including the Sandy Hook families.

S Club 7 sent fans into a frenzy when they announced they were bringing it all back to celebrate their 25th anniversary. The seven-piece pop group were originally created by former Spice Girls manager Simon Fuller in 1998 and kept the pop charts alive until 2003 when they disbanded.

A parade of media and tech companies are apparently owed money by FTX along with hundreds of other creditors, according to an extensive list that runs from banks, insurers, hedge funds, airlines and hotels to universities, federal agencies and every state in the nation from Alabama to Wyoming.

Katie Price has been proudly posing alongside used socks and underwear as she intends to flog old items to fans.

Judge Marvin Isgur told parties to the Cineworld bankruptcy Wednesday they need to speed things up as debtors and creditors hash out a restructuring plan for the giant movie chain, including closing theaters, wrapping up lease negotiations with landlords, and advancing an overall sale process.

Erika Jayne's $750,000 earrings are making headlines yet again, after lawyer Ronald Richards accused her of turning over the wrong pair to ex Thomas Girardi‘s bankruptcy trustee.The  Beverly Hills-based criminal defense and civil litigation attorney made the claim over Twitter on November 23.'We can safely report that the earrings that Erika Girardi gave to the Trustee are NOT the same earrings on the sales invoice aka as the replacement earrings purchased through a tax fraud by Tom Girardi where he falsely claimed the $750k check was a court cost,' Ronald alleged.  Yikes: Erika Jayne's $750,000 earrings are making headlines yet again, after lawyer Ronald Richards accused her of turning over the wrong pair to ex Thomas Girardi‘s bankruptcy trusteeThe news comes just days after news broke that the singer's prized earrings were set to be auctioned off for a much lower price.  She and her ex are currently facing a raft of legal problems over allegations that Girardi, 83, a disbarred attorney, embezzled millions in settlement money from his clients and that Jayne colluded in his malfeasance to fund her top-flight lifestyle.Girardi has been accused of spending $750,000 of misappropriated money on the earrings, which Erika was court-ordered over the summer to put on auction.

Erika Jayne was seen with a very expensive designer handbag just weeks after auctioning off many luxury goods in order to pay down her estranged husband Tom Girardi's enormous $101M bankruptcy debt.The 51-year-old Real Housewives Of Beverly Hills star lugged along a black lambskin leather quilted large Chanel shopping bag - which retailed for about $7K - on a casual outing in Los Angeles on Wednesday.She teamed the luxury leather good with a pink and white blouse, black joggers, and white sneakers. Still living the life: Erika Jayne was seen with a very expensive designer handbag just weeks after auctioning off many luxury goods in order to pay down her estranged husband Tom Girardi's enormous $101M bankruptcy debtErika chatted away on her mobile phone as she accessorized with black designer cat eye shades.

Elon Musk "woke up screaming" over bankruptcy fears, according to ex-wife Talulah Riley. The 51-year-old business magnate now has an estimated net worth of $232 billion but was always trying to "avoid" the prospect of going broke, his former spouse has claimed. 'Pistol' star Talulah - who was married to Musk between 2010 and 2012 and again from 2013 until 2016 - said: "He was trying to avoid bankruptcy.

Gene Maddaus Senior Media Writer The National Association of Television Program Executives (NATPE), which holds trade shows for the TV industry, announced on Monday that it will file for bankruptcy. The organization said the pandemic had forced it to cancel its flagship events, leading to a drop in revenues and requiring it to draw on reserves. A bankruptcy filing was expected as soon as Tuesday. NATPE said it will restructure under Chapter 11, and that it still plans to hold its annual conference on Jan. 17-19, 2023, in the Bahamas. “NATPE is looking at all possible options to restructure, including raising funds through strategic alliances, and continue to operate NATPE as a more streamlined and reorganized operation,” the group said in a statement. “For almost 60 years, NATPE has been the leading global professional association for content producers, distributors, developers, streamers and buyers across all distribution platforms. NATPE is optimistic that it will emerge from the reorganization process in the same position.”

NATPE, which has convened annual gatherings of producers, syndicators, station owners and other TV stakeholders for decades, has filed for bankruptcy.

EXCLUSIVE: No surprise here, but we hear Regal has shuttered 12 of its 542 multiplexes as parent company Cineworld remains in Chapter 11 bankruptcy.

Cineworld plans to file its reorganization plan by Oct. 31, an attorney for the giant chain said today at a hearing. It also won’t be forced to state its case in a Canadian appeals court next month for reneging on a merger agreement with Cineplex.

Going through a tough time. Big Brother alum Mike “Boogie” Malin filed for bankruptcy last month, Us Weekly has exclusively learned.

A U.S. Bankruptcy Court judge granted Regal Cinemas’ parent Cineworld immediate access to up to approximately $785 million of a financing facility, providing sufficient liquidity for the giant theater chain to meet ongoing obligations, including to vendors, suppliers and employee salaries and benefits.

A US bankruptcy court has approved Cineworld for first day relief following the company’s Chapter 11 filing on September 7, 2022.