This chapter provides a comprehensive overview of recent significant bankruptcy cases, including court approvals and legal challenges faced by companies such as Winstream and Whiting Petroleum. It explores the ongoing financial struggles of various sectors, including retail and energy, amidst tightening lending conditions and the impacts of the COVID-19 pandemic. Additionally, the discussion highlights the complexities of Chapter 11 bankruptcy, focusing on the critical relationship between creditors and debtors and the implications of cash flow limitations.