January 12, 2026 - Hearthside Food Solutions, National Realty Investment Advisors, Celebration Pointe Holdings, Mode Eleven Bancorp

This episode covers key developments in four major restructuring and bankruptcy cases:

Hearthside Food Solutions faces a pivotal Texas court ruling that sharply limits post-confirmation bankruptcy jurisdiction, with the court holding it lacks authority to enforce post-confirmation contractual obligations that do not affect plan implementation—while leaving the door open for fraud claims tied to the bankruptcy process itself.

The liquidation trustee for National Realty Investment Advisors seeks approval for nearly $97 million in development financing, raising governance questions over whether the Liquidation Trust Advisory Board must approve debt incurred by wind-down entities as the trustee argues development could boost investor recoveries by tens of millions of dollars.

Celebration Pointe Holdings files a liquidation plan for its 2-million-square-foot Gainesville mixed-use development, shifting away from reorganization amid pandemic-era disruptions, rising interest rates, and inflation, with unsecured creditors facing uncertain recoveries through a liquidating trust.

And Mode Eleven Bancorp asks a Wyoming bankruptcy court to approve a $2 million private sale of Summit National Bank after failed auctions, citing urgent regulatory pressure and receivership risk as it seeks to preserve value following an extensive but unsuccessful marketing process.

💡 From post-confirmation jurisdiction limits and trustee authority to large-scale real estate liquidations and distressed bank sales, this episode examines how legal boundaries, governance disputes, and timing pressures are shaping outcomes in complex Chapter 11 cases.

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