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LIV Golf Files Bankruptcy Plan and Sets Sight on January Liquidation
The plan follows failed restructuring talks and would use a wind-down trust to pay creditors and settle claims after voting and objections.
- On Tuesday, LIV Golf filed a Chapter 11 bankruptcy plan with a New Jersey court, proposing a Jan 7 hearing to initiate the league's liquidation process.
- The Public Investment Fund invested approximately $5 billion but withdrew support after continuous financial losses, while the restructuring agreement with Partners Credit failed to secure backing for a 2.0 version.
- Bankruptcy filings reveal that LIF laid off 289 employees and furloughed 22 others roughly a week before filing, as the league finalized restructuring plans.
- Players including Jon Rahm face uncertain futures as the PGA Tour has not indicated a path back for them, while a wind-down trust will manage creditor payments and legal claims.
- A hearing scheduled for Nov 24 will conditionally approve the disclosure statement, allowing six weeks to determine voting rights and resolve objections before the Jan 7 liquidation hearing.
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13 Articles
13 Articles
The Toronto Star+6 Reposted by 6 other sources
LIV Golf files bankruptcy plan and sets sight on January liquidation
LIV Golf filed a Chapter 11 bankruptcy plan with a New Jersey court Tuesday, along with a proposed schedule for a final hearing on its disclosure statement on Jan. 7
·Toronto, Canada
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LIV Golf presented on Tuesday a bankruptcy plan under Chapter 11 before a court in New Jersey, along with a proposed schedule for a final hearing on its disclosure statement on January 7 that would start the liquidation.
Coverage Details
Total News Sources13
Leaning Left6Leaning Right2Center3Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 27%
R 18%
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