U.S. Bankruptcy Court
Coverage of U.S. Bankruptcy Court in the Nexus archive.
- Vermont’s Catholic Church aims to protect Rice Memorial High by selling the parochial school to supporters
Vermont’s Roman Catholic Diocese seeks court approval to sell Rice Memorial High School to a nonprofit, RMHS Inc., to protect the school from liquidation. The diocese, reorganizing finances under Chapter 11 bankruptcy, aims to preserve the school’s Catholic identity and operations ahead of the 2026-2027 academic year.
- Sleep Number files for bankruptcy, will combine with Sleep Country Canada
Sleep Number filed for Chapter 11 bankruptcy and agreed to be acquired by Sleep Country Canada for $415 million. The deal involves Sleep Country Canada's U.S. subsidiary SNBR purchasing Sleep Number, with stores remaining open during the process. Sleep Number's CEO cited an unsustainable capital structure but expressed confidence in improving financial position through the acquisition.
- Trump considers a taxpayer takeover of Spirit Airlines and would aim to resell carrier
President Donald Trump is considering a taxpayer-funded takeover of Spirit Airlines to resell it for profit after oil prices drop, as the struggling budget carrier seeks government financing to avoid bankruptcy. The plan faces skepticism from officials like Transportation Secretary Sean Duffy, who question setting a financial aid precedent.