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Latest News in Bankruptcy

  • October 18, 2017

    Settlement In $46M BofA Foreclosure Case Nears Approval

    A California bankruptcy judge on Wednesday appeared close to approving a multimillion-dollar settlement between Bank of America Corp. and a family that won a $46 million judgment after being plunged into “a Kafkaesque nightmare” by an illegal foreclosure, even as he derided the deal as a “hostage situation” in court.

  • October 18, 2017

    VidAngel Files For Ch. 11 After 9th Circ. Copyright Loss

    Movie filtering service VidAngel Inc. filed for bankruptcy in Utah Wednesday saying that it owes its current and former subscribers $4.7 million in credit after a preliminary injunction was issued in a infringement suit brought by Walt Disney and other Hollywood studios.

  • October 18, 2017

    Expedited Peekay Ch. 11 Disclosure Gets Interim OK

    Washington state-based sexual health and lingerie retailer Peekay Acquisition LLC secured interim approval in Delaware Wednesday for the company’s combined Chapter 11 disclosure and plan, an accelerated process largely built around a $30.7 million company sale to senior lenders.

  • October 18, 2017

    Aerogroup’s $25M DIP Deal A ‘Nonstarter,’ Judge Says

    A Delaware bankruptcy judge on Wednesday shot down a $25 million Chapter 11 debtor-in-possession loan deal sought by bankrupt Aerogroup International Inc., telling an attorney for the shoe producer and retailer that “the terms proposed are a nonstarter for me.”

  • October 18, 2017

    ChinaCast, Creditors Prodded To Settle Insurance Payout Row

    A private equity fund sitting on a $66 million class action judgment against now-bankrupt ChinaCast Education Corp. may be able to sue the debtors’ insurers for payment without stepping on the toes of the company or other creditors, a New York bankruptcy judge observed Wednesday, encouraging the sparring parties to negotiate.

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