November 01, 2024
The U.S. Trustee's Office is exceeding its authority as a "watchdog" in seeking to claw back money paid to Jackson Walker LLP in bankruptcy cases because the judge presiding over those cases was having a secret relationship with a firm partner, the firm told a Texas federal bankruptcy court.
July 28, 2022
Military veteran claims pushed earplug maker and 3M unit Aearo into bankruptcy, a New Jersey judge ordered an estimation process for talc claims in the Chapter 11 of Johnson & Johnson's talc unit and the founders of bankrupt cryptocurrency hedge fund Three Arrows Capital are not responding to subpoenas. This is the week in bankruptcy.
July 22, 2022
The bankrupt owners of a drilling rig asked a Texas bankruptcy judge Thursday for immediate permission to tap into $2.71 million of its cash so it can move the vessel out of Mexican waters to keep it safe during hurricane season.
June 17, 2022
Gulf of Mexico oil rig operator LaForta-Gestao e Investimentos filed for Chapter 11 protection in a Texas court, saying it had no cash or income and needed bankruptcy financing to keep the oil rig that is its sole asset afloat until it can arrange a sale.
June 17, 2022
A Texas bankruptcy judge Friday gave the bankrupt owners of a Gulf of Mexico oil rig permission to tap into $23.5 million in Chapter 11 financing after hearing that the cash is needed immediately to keep its currently anchorless and uninsured rig fit for sale.