When One Ch. 11 Doesn't Cut It: Recent 'Chapter 22s'
If there's something worse than bankruptcy, it's having to go through bankruptcy more than once. From exit loans that act more like a millstone than a launchpad, to unsuccessful attempts to shake off tort liability, to macroeconomic headwinds that just won't stop blowing, most Chapter 11 debtors show up to court more distressed the second time around.
Meet The Attys Moving Wynne Transportation Through Ch. 11
Wynne Transportation Holdings LLC has secured the help of attorneys from Landis Rath & Cobb LLP to see it through a restructuring in the wake of an arbitrator's judgment that the company must pay a former subcontractor $32.8 million, which came after the state of Texas required the debtor to bus migrants to Democrat-controlled areas.
Strong Demand Couldn't Stave Off Ch. 11 For Wynne
Before it filed for bankruptcy Friday, Wynne Transportation appeared to be in healthy financial shape — if it weren't for project delays and litigation with a former subcontractor tied to a state government contract to bus migrants out of Texas.
Large Cap More
The bankrupt parent of snack maker Hearthside Food Solutions proposed a pair of retention and incentive payment plans that would provide up to $30 million in bonuses to key employees in the company's Texas Chapter 11 case.
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Amazon, Anthem and FedEx on Wednesday asked a Connecticut bankruptcy judge to toss millions in clawback claims against nearly 40 entities by Chinese exile Miles Guo's Chapter 11 trustee, saying during oral arg... (more story)
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A Delaware bankruptcy judge on Wednesday gave the owner of a California resort project another week to secure $11 million in municipal Chapter 11 financing, and similarly delayed a request by the U.S. Trustee'... (more story)
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Fabrics and crafts retailer Joann Inc. filed for Chapter 11 protection in Delaware bankruptcy court Wednesday with $615.7 million in debt and a plan to sell its assets, the company's second Chapter 11 filing i... (more story)
The Office of the U.S. Trustee has objected to Willkie Farr & Gallagher LLP serving as co-counsel for debtor Franchise Group Inc. in its Chapter 11, saying the firm did prepetition work for Franchise's ex-CEO ... (more story)
A Texas bankruptcy judge said Tuesday she would allow struggling hospital operator Prospect Medical Holdings Inc. to borrow part of a $100 million financing package that prompted an objection from the company'... (more story)
The developer of the Baha Mar resort in the Bahamas filed a petition Tuesday to liquidate a Chinese-owned construction firm that was hit with a $1.6 billion judgment last year by a New York court over its frau... (more story)
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Bankrupt automotive finance company Vroom Inc. has emerged from bankruptcy free of $290.5 million in convertible note debt, it has announced.
Montoux, a New Zealand-based provider of actuarial software, has hired lawyers from Young Conaway Stargatt & Taylor LLP to help secure U.S. recognition of a liquidation process the company launched in its home country.
A Delaware bankruptcy judge granted partial summary judgment to the liquidating trust for defunct retailer Fred's Inc. in its bid to recover more than $3 million it paid to logistics company C.H. Robinson Co. ... (more story)
Rudy Giuliani on Thursday settled claims that he must turn over assets to fund a $148 million judgment for defaming two Georgia poll workers, after his failure to show up in court delayed the start of a scheduled bench trial.
The former leaders of a now-defunct food waste company owe another company $1.6 million for misappropriating a process for turning waste into fertilizer and animal feed, a Delaware vice chancellor said in a de... (more story)
The proposed disclosure statement and Chapter 11 plan of New Jersey hospital operator CarePoint Health Systems Inc. drew more than a half dozen objections, including from former owners, a prospective buyer, an... (more story)
The Boeing Co. can't use a now-defunct South African airline's loss of records to dodge a suit over fallout from a 737 Max airplane deal, a Washington federal judge has said, chiding the aerospace giant for of... (more story)
A Texas bankruptcy judge on Wednesday gave bankrupt digital advertising firm Digital Media Solutions Inc. approval for its proposed Chapter 11 plan, overruling objections from the U.S. trustee who argued the p... (more story)
Artificial intelligence-supported travel agency application maker Mondee Holdings Inc. filed for Chapter 11 protection in Delaware, saying it has a baseline offer for the acquisition of its assets and $49 mill... (more story)
A Delaware bankruptcy judge said Tuesday she will allow transportation service provider Wynne Transportation to borrow $2 million in initial debtor-in-possession financing on an interim basis, clearing the way... (more story)