Elevated casual dining chain Yardbird Group LLC filed for Chapter 11 protection Monday in Delaware, listing $25 million of secured debt obligations and another $25 million in unsecured claims as it pursues a sale of its business.
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Yardbird Southern Dining Chain Hits Ch. 11 With $50M Debt

By Vince Sullivan

Elevated casual dining chain Yardbird Group LLC filed for Chapter 11 protection Monday in Delaware, listing $25 million of secured debt obligations and another $25 million in unsecured claims as it pursues a sale of its business.

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FTX Trust Says SkyBridge Can't Collect $53M In Ch. 11 Claims

By Rick Archer

FTX's liquidating trust is asking a Delaware bankruptcy judge to reject $53 million in claims from firms affiliated with a former Trump administration official, saying the companies came out ahead of deals at issue in the case.

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Judge OKs Up To $3.2M In BioXcel Employee Ch. 11 Bonuses

By Clara Geoghegan

A Delaware bankruptcy judge approved employee retention and executive incentive payments that could total up to $3.2 million as AI-bolstered pharmaceutical group BioXcel works to sell its assets in Chapter 11.

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CHAPTER 11

Nielsen Faced Potential Fine Of $50K Per Day In Tying Case

By Nadia Dreid

If the Second Circuit hadn't stepped in and paused a New York federal court order commanding Nielsen Co. to provide its national ratings data separate from its local offerings, the company would have racked up $50,000 a day in sanctions if it did not comply.

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ROUNDUPS

Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court this past week dismissed a challenge to Alteryx Inc.'s $4.4 billion take-private sale, resolved a fight over the removal of a security technology company's director and declined to let Empery Digital Inc. immediately appeal a proxy contest ruling.

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PEOPLE

Womble Bond Plants Flag In Florida With Jacksonville Shop

By Lynn LaRowe

Womble Bond Dickinson announced Monday that it has opened an office in Jacksonville, its first in Florida, with a three-member team of bankruptcy and restructuring attorneys anchoring the new location.

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EXPERT ANALYSIS

How Cannabis Rescheduling Is Reshaping Bankruptcy

As broader cannabis rescheduling awaits a recommended decision, cannabis companies continue to test the boundaries of the Bankruptcy Code, with the recent Cannabist Chapter 15 recognition order suggesting that governmental resistance may be reduced in future filings, say attorneys at Thompson Coburn.

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LEGAL INDUSTRY

Seyfarth Says Data Breach Exposed Social Security Numbers

By Hailey Konnath

Seyfarth Shaw LLP has disclosed a recent data breach that exposed the names and Social Security numbers of at least 300 individuals, according to notices filed with the Texas and California attorneys general.

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Meta Celebrates 'Abuse' Of Atty-Client Privilege, Judge Told

By Dorothy Atkins

A California federal judge ordered Meta on Tuesday to rereview privilege designations on 300 documents in social media addiction litigation, after plaintiffs' lawyers cited a "culture of privilege abuse" epitomized by Instagram swag hats embroidered with "a/c priv" — the shorthand used to log withheld documents.

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Mich. Fed. Judge On 1-Year Leave Over Drunken Driving Case

By Jack Karp

U.S. District Judge Thomas L. Ludington is taking a one-year paid leave of absence from the bench following his misdemeanor conviction for drunken driving, the U.S. District Court for the Eastern District of Michigan announced Tuesday.

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Womble Bond Can't Quit Dutch Client With TM Trial Looming

By Hayley Fowler

Womble Bond Dickinson can't withdraw from a trademark feud that's dragged on for more than five years between U.S. and Dutch software companies, a North Carolina federal judge ruled, saying the firm's exit at this late stage "would be completely disruptive."

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LAW FIRMS IN TODAY'S NEWS

Blank Rome

Burr & Forman

Cooley LLP

Covington & Burling

Eckert Seamans

Ellis & Winters

Gibson Dunn

Goodwin Procter

Greenberg Traurig

Hogan Lovells

Kramer LLP

Landis Rath

Lewis Brisbois

Lieff Cabraser

McDermott Will & Schulte

Michael Best & Friedrich

Potter Anderson

Quinn Emanuel

Seyfarth Shaw

Simpson Thacher & Bartlett

Sullivan & Cromwell

Taft Stettinius

Thompson Coburn

WilmerHale

Womble Bond

Young Conaway

COMPANIES IN TODAY'S NEWS

Alteryx Inc.

BioXcel Therapeutics Inc.

Burger King Holdings Inc.

Carrols Restaurant Group Inc.

City National Bank

Clearlake Capital Group LLC

Cumulus Media Inc.

Discord Inc.

East West Bancorp Inc.

Evercore Inc.

Inovalon Holdings Inc.

Insight Venture Management LLC

Instagram Inc.

JPMorgan Chase & Co.

Jefferies Financial Group Inc.

Los Angeles Unified School District

Meta Platforms Inc.

Mobileum Inc.

Nielsen Holdings PLC

Nordic Capital Ltd.

Restaurant Brands International Inc.

Roblox Corp.

Snap Inc.

Teva Pharmaceutical Industries Ltd.

The Cannabist Co.

TikTok Inc.

Twitter Inc.

Vangst

X Corp.

YouTube Inc.

GOVERNMENT AGENCIES IN TODAY'S NEWS

California Attorney General's Office

Delaware Court of Chancery

Food and Drug Administration

Texas Attorney General's Office

U.S. Bankruptcy Court for the District of Delaware

U.S. Court of Appeals for the District of Columbia Circuit

U.S. Court of Appeals for the Second Circuit

U.S. Department of Justice

U.S. District Court for the Eastern District of Michigan

U.S. District Court for the Northern District of California

U.S. District Court for the Southern District of New York

U.S. Drug Enforcement Administration

U.S. Supreme Court