BurgerFi Says Macroeconomics Drove It Into Ch. 11
Meet The New Acting US Trustees For Northwestern States
Tupperware Hits Ch. 11, 3rd Circ. Says Hertz Owes $270M
BurgerFi Says Macroeconomics Drove It Into Ch. 11
Fast-casual restaurant chain BurgerFi Inc. filed for Chapter 11 bankruptcy earlier this month, blaming macroeconomic factors for its insolvency in what is becoming an increasingly common tale for retail and hospitality companies operating after the onset of the COVID-19 pandemic.
Meet The New Acting US Trustees For Northwestern States
Attorney General Merrick Garland has appointed two acting U.S. trustees to oversee the administration of bankruptcy cases in two major regions that encompass multiple northwestern states.
Tupperware Hits Ch. 11, 3rd Circ. Says Hertz Owes $270M
This week saw a wave of new bankruptcy filings, including that of kitchen supply brand Tupperware, two restaurant chains based in Florida and a defunct California bank that catered to cryptocurrency users.
Expert Analysis
The wave of restaurant bankruptcies is likely to continue in the coming months as companies face the looming repay... (more story)
In times of economic turbulence, parties to bankruptcy proceedings that involve net asset value facilities can mit... (more story)
Parties to the acquisition of an insolvent or bankrupt company face myriad tax considerations, including limitatio... (more story)
Large Cap More
A U.S. Senate committee voted unanimously Thursday to hold Steward Health Care CEO Ralph de la Torre in civil and criminal contempt after he defied a subpoena to testify about the bankrupt health system's downfall.
A New York federal judge has approved a roughly $188 million settlement between Puerto Rico's bankrupt public electricity provider and a company whose multi-million-dollar contract to repair hurricane-damaged ... (more story)
A California tax collection agency asked a New York federal court to throw out Federal Deposit Insurance Corp. claims seeking a more than $20 million tax refund on behalf of the shuttered Signature Bank, sayin... (more story)
Navient Corp. has reached an agreement with Puerto Rico's attorney general to forgive at least $7.7 million in private student loans after being accused of past predatory lending to student borrowers and perva... (more story)
Iconic food storage brand Tupperware received a Delaware bankruptcy judge's approval Thursday to keep its bank account systems operating as it prepares to fight off objections to most of its first-day motions ... (more story)
A Delaware bankruptcy judge on Thursday confirmed the Chapter 11 liquidation plan from cryptocurrency firm Terraform Labs after overruling objections from several individual cryptocurrency investors.
Delaware firm Potter Anderson & Corroon LLP has announced that it has extended the lease for its Wilmington headquarters for 13 years to 2041, and also plans to modernize the space in time for the firm's 200th... (more story)
Philadelphia-headquartered Cozen O'Connor has hired a corporate restructuring professional from Goulston & Storrs PC for its bankruptcy, insolvency and restructuring practice as a member in the firm's growing ... (more story)
The former auditor of Sam Bankman-Fried's defunct cryptocurrency exchange FTX agreed Tuesday to pay $1.95 million to resolve allegations by the U.S. Securities and Exchange Commission of misconduct in FTX audi... (more story)
Bankrupt cryptocurrency firm Terraform Labs will face several objections from individual investors and the U.S. Trustee's Office at a hearing Thursday in Delaware in which it hopes to receive confirmation of i... (more story)
Mid Cap More
Bankrupt New York City condominium complex Hudson 888 Owner LLC asked a New York bankruptcy judge to put it on the fast track to a confirmation hearing for its third proposed Chapter 11 plan, under which it wo... (more story)
The bankruptcy trustee of a defunct Utah transportation company warned the U.S. Supreme Court on Thursday that overturning a decision forcing the IRS to return tax payments made by company directors to cover t... (more story)
A Delaware bankruptcy judge said Thursday she anticipated being able to give the company that operates Tender Greens and Tocaya restaurants final approval for $3.5 million in debtor-in-possession financing and... (more story)
Quinn Emanuel Urquhart & Sullivan LLP is pushing back against a bid for firm documents from its former client, Oro Negro Drilling Pte. Ltd., saying the company that provides oil services in Mexico and its subs... (more story)
A Delaware bankruptcy judge on Thursday approved a slew of first-day motions brought by the parent company of defunct cryptocurrency-focused bank Silvergate, allowing the debtor to stay on track with a plan to... (more story)
Bankrupt wine producer Vintage Wine Estates has told Delaware's bankruptcy court it scored a series of offers for its assets through a Chapter 11 auction that will bring in more than $140 million.
Federal investigators said a draft report into the June 24, 2021, collapse of the Champlain Towers in Surfside, Florida, that killed nearly 100 people won't be ready until 2026, instead of next year, after a s... (more story)
A Pittsburgh robotics company took orders for more than $4 million worth of robot toys but failed to deliver many of them — and in the case of a toy based on the TV show "Rick and Morty," didn't secure the int... (more story)
The U.S. Trustee's Office urged a Delaware bankruptcy judge on Wednesday to deny sports retailer Mountain Sports' bid to conceal details of bonuses it has proposed to pay employees to help incentivize them to ... (more story)
The British restaurant group that operates TGI Fridays' UK stores has collapsed into administration on Wednesday, along with its plans to sell its 87 restaurants in the UK, the company said after it nixed a de... (more story)