Under The Radar: Bankruptcy News You May Have Missed
A Texas oil and gas driller is seeking permission to sell its oilfields, while the U.S. Trustee's Office is looking to shut another oil producer's yearslong Chapter 11 down, and creditors of a bankrupt medical implant maker are alleging the debtor's bankruptcy financing and sale plans are a way for its private equity sponsor to weasel out of product liability claims.
Behind EV Battery Maker Northvolt's $5B Ch. 11
Swedish electric vehicle battery manufacturer Northvolt AB, which once had the ambition to power-up Europe's electric vehicle manufacturing industry and had secured contracts from automakers like Porsche, Audi and BMW, descended into Chapter 11 after failing to scale up its production and falling victim to slowing sales, according to its bankruptcy filings.
Not Just COVID, Rapid Expansion Drove CareMax's Ch. 11
Pressures from rising operational costs, the lingering effects of the COVID pandemic, and inflation have all contributed to CareMax Inc.'s recent filing for Chapter 11, but it also found itself in a challenging healthcare environment that made it difficult for the company specializing in senior care to keep up with its rapid expansion.
Large Cap More
FTX is pushing back against efforts by liquidators for defunct cryptocurrency hedge fund Three Arrows Capital to add more than $1.5 billion to its claims in FTX's Chapter 11 case in Delaware bankruptcy court.
Convicted insurance mogul Greg Lindberg and federal prosecutors have come together to ask a North Carolina federal judge to appoint an attorney from Grier Wright Martinez PA to serve as special master for liqu... (more story)
The Connecticut Appellate Court on Friday sliced $150 million from a $1.44 billion trial court judgment against Infowars host Alex Jones over his claims that the Sandy Hook shooting was a hoax, holding the sta... (more story)
Lawmakers in the U.S. Senate this week renewed efforts to pass two bankruptcy bills that would bolster rights for employees and crack down on the controversial use of so-called Texas two-step bankruptcies.
The Third Circuit on Thursday affirmed a ruling paving the way for ConocoPhillips' participation in an auction for control of the U.S. oil giant Citgo to enforce an $8.5 billion debt against Venezuela.
A Delaware bankruptcy judge has approved a deal to settle clawback claims by FTX against former Alameda Research Ltd. executive John Samuel Trabucco, who agreed to hand over two San Francisco apartments purcha... (more story)
Company bosses and their insurers could face increased claims next year from a predicted rise in corporate insolvencies and class actions, Allianz warned Thursday.
The Commonwealth of Pennsylvania has until Monday, Dec. 9, to secure additional funding to cover a hospital's operating losses as it seeks to negotiate a sale from bankrupt hospital operator Steward Healthcare... (more story)
The Chapter 11 trustee overseeing Chinese exile Miles Guo's bankruptcy in Connecticut says Boies Schiller Flexner LLP should not be allowed to move a nearly $654,000 clawback action from bankruptcy court to di... (more story)
An investment company on Wednesday found itself before the Fifth Circuit having to justify paying $7.7 million for allegedly undelivered services from an affiliate, as it appeals a $2.6 million bill it got hit... (more story)
Mid Cap More
The two former Georgia election workers who won a $148 million defamation verdict against Rudy Giuliani have asked a federal judge to hold the former Donald Trump attorney in civil contempt and impose "severe"... (more story)
A creditor of Solar Biotech asked a Delaware bankruptcy judge to deny a request to pay the failed stalking horse bidder's $456,000 breakup fee, arguing there was no evidence the protections were necessary or t... (more story)
Georgia-Pacific unit Bestwall's bid to handle asbestos liability using a controversial "Texas Two-Step" Chapter 11 case is "grotesquely inequitable" and "plainly at odds" with the tenets of bankruptcy, a group... (more story)
California-based trucking company KAL Freight Inc. filed for Chapter 11 protection in a Texas bankruptcy court, saying it has $325 million of debt obligations it can't meet after a post-COVID expansion effort ... (more story)
A Delaware bankruptcy judge said Thursday he would confirm the Chapter 11 plan from light-sport aircraft producer Icon after the debtor settled with a group of shareholders that sued the company in derivative litigation.
A Delaware bankruptcy judge on Thursday instructed Vintage Wine Estates and its lenders to sit down with a mediator to resolve their differences over the funding for the wine producer's Chapter 11 case.
The former CEO of solar power company iSun is asking a Delaware bankruptcy judge to reject the company's proposed Chapter 11 plan, saying it fails to provide for payment of priority claims, including his own d... (more story)
Lowenstein Sandler LLP has persuaded an Essex County Superior Court judge to recuse himself from the firm's $800,000 fee suit against a cannabis dispensary over social connections to the litigants and their co... (more story)
A Texas bankruptcy judge Wednesday signed off on a timeline to confirm the prepackaged debt-for-equity Chapter 11 plan of oil and gas contractor Independence Contract Drilling, saying he'd save ruling on conce... (more story)
The lead Connecticut attorney in Infowars host Alex Jones' Sandy Hook defamation trial should be suspended for 30 days for directing a subordinate to transmit the victims' personal medical records to other Jon... (more story)