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Hello Judges, Goodbye Refs: 1970s Changes To Bankruptcies
WeWork Plan Approval, Crypto Update, Giuliani Creditor Fight
Meet The Attorneys Guiding Grocery Co. Takeoff's Ch. 11
Hello Judges, Goodbye Refs: 1970s Changes To Bankruptcies
Imagine taking your client's insolvent company to a referee instead of a judge, or not having creditors grill you in a 341 meeting — or not having a creditors' committee at all. That was the case before the 1970s ushered in the most sweeping changes to U.S. bankruptcy law and practice in 80 years.
WeWork Plan Approval, Crypto Update, Giuliani Creditor Fight
Office space provider WeWork's plan to wipe out $4 billion in debt and end its Chapter 11 case was approved, defunct crypto lending platform Genesis Global Holdco LLC expects to exit bankruptcy in July and the official committee of unsecured creditors in Rudy Giuliani's Chapter 11 has asked a New York bankruptcy judge to hand control of the Republican firebrand's estate to a trustee.
Meet The Attorneys Guiding Grocery Co. Takeoff's Ch. 11
A team of attorneys from Young Conaway Stargatt & Taylor LLP and Sheppard Mullin Richter & Hampton LLP is guiding grocery automation system maker Takeoff Technologies through its Chapter 11 case in Delaware.
Expert Analysis
In Raymond James & Associates v. Jalbert, the Fifth Circuit recently held that the bankruptcy debtor's indemnifica... (more story)
The Eleventh Circuit's recent decision in In re: Talal Qais Abdulmunem Al Zawawi has introduced a split from the S... (more story)
A Delaware bankruptcy court recently held Camshaft Capital and its principal in contempt, serving as a reminder to... (more story)
Large Cap More
A Texas bankruptcy judge on Monday put off confirming the Chapter 11 plan of sightseeing cruise business Hornblower Holdings LLC in order to address the remaining objection against the plan brought by a compan... (more story)
Creditors of right-wing conspiracy theorist Alex Jones' media company Free Speech Systems have asked a Texas bankruptcy judge to convert its Chapter 11 to a Chapter 7, saying liquidation is the only realistic ... (more story)
Trucking firm Yellow Corp. received a new 90-day extension of the period during which it has the exclusive right to file a Chapter 11 plan, with a Delaware bankruptcy judge ruling Monday the debtor should be g... (more story)
A Texas bankruptcy judge on Monday gave Steward Health Care permission to offer a commitment fee to induce a lender to provide it with the financing to see the hospital chain through its Chapter 11 case, while... (more story)
Rite Aid alleged the buyer of its prescription benefits subsidiary is trying to dodge $225 million of liabilities that were part of the sale closed in February, and asked a New Jersey bankruptcy judge to find ... (more story)
Delaware's Court of Chancery pushed out tons of decisions last week, along with a second round of new rules and letters of concern over pending changes to the state's corporate law code. The court's docket was... (more story)
Nursing home operator LaVie Care Centers LLC hit Chapter 11 on Monday in Georgia with $1.1 billion in debt, saying it has not been able to recover from the COVID-19 pandemic.
The U.S. Supreme Court on Monday declined to hear arguments by an investor in Bernie Madoff's Ponzi scheme for overturning a Second Circuit decision on how to calculate the amount of investor withdrawals that ... (more story)
Continuing its hiring in the finance and restructuring space, Paul Hastings LLP announced Monday that it is bringing on a team of 11 partners from King & Spalding LLP, including the co-head of the global finan... (more story)
Prosecutors pushed back Friday on Tom Girardi's request to ask prospective jurors in his California federal fraud trial if they have seen his wife's television show or reports about his law firm's scandal, say... (more story)
Mid Cap More
Vermont-based solar energy firm iSun Inc. filed for Chapter 11 bankruptcy on Monday in Delaware bankruptcy court weeks after announcing the replacement of its chief executive officer and chief financial officer.
Massachusetts state court judges rejected a law firm's effort to fight malpractice claims by pointing the finger at a Rhode Island judge, and ruled that an online booking platform can boot the owner of Bali va... (more story)
What began as a simple commercial lease action tied to a swanky hotel in New York City morphed into a complex adversary proceeding, which a Herrick Feinstein LLP team recently brought to a close, paving the wa... (more story)
The co-living company Common, which aimed to modernize apartment rentals and merged with Germany's venture backed Habyt in January 2023, filed for Chapter 7 liquidation in Delaware, listing between $10 million... (more story)
California-based cloud technology developer CalAmp Corp. filed for Chapter 11 bankruptcy on Monday in Delaware bankruptcy court, saying it entered a restructuring deal with lender Lynrock Lake Master Fund LP t... (more story)
The Ninth Circuit on Friday declined to revive a suit from a holding company for a drug and alcohol treatment center claiming Cigna forced it into bankruptcy by not paying more than $8 million in authorized cl... (more story)
A Delaware bankruptcy judge told Takeoff Technologies on Friday that he was prepared to approve $9.6 million in Chapter 11 financing from customers trying to avoid losing support for the company's grocery inve... (more story)
A New York appeals court has said a lower court rightly dismissed some components of a suit brought by a fine liquors company owned by rapper 50 Cent, allowing Jim Beam and its parent company to escape the rap... (more story)
A deal between the IRS and an Alabama real estate developer to settle his tax debt for $2 million during Chapter 11 bankruptcy proceedings wasn't final, and the agency can demand additional taxes from him, the... (more story)
Attorneys for My Pillow CEO Mike Lindell were nowhere to be found Friday as a D.C. federal judge mulled how much they should pay in sanctions for counterclaims in election company Dominion's ongoing libel suit... (more story)