Bankruptcy Law360 provides breaking news and analysis on bankruptcy law. Coverage includes corporate bankruptcies and out-of-court restructurings, as well as corporate distress and imminent bankruptcy and policy developments that affect bankruptcy law.
Consumer and commercial debt collector SquareTwo Financial Services Corp. on Friday asked a New York bankruptcy court to approve a deal it reached to knock out opposition from a committee of unsecured creditors, paving a path to confirm its proposed Chapter 11 restructuring plan.
Citing “indisputable” contract termination rights, California Proton Treatment Center LLC called for summary judgment late Friday on the radiation treatment provider's effort to shed its business operation contract as part of a Delaware Chapter 11 reorganization.
A proposed employee bonus program floated by Rupari Food Services Inc. drew objection Monday in Delaware from the agent under a prepetition secured credit facility and the United States Trustee over the funding source of the bonuses and the criteria used to award them.
The Ninth Circuit on Monday found that the Transport Workers Union of America hadn’t acted in bad faith when it cut out certain retirees from equity payments it received in an airline bankruptcy settlement, concluding the union hadn’t breached its duty of fair representation of its members.
Wyoming natural gas storage venture Ryckman Creek Resources LLC overreached with a bankruptcy proposal for stalking-horse bid protections before naming the bidder or any initial offer, the Office of the U.S. Trustee said Friday in a Delaware federal court objection.