Mid Cap
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May 13, 2024
NY Youth Welfare Org To Sell 12-Acre Campus In Ch. 11
Longtime youth mental health services provider St. Christopher's Inc. will sell its Dobbs Ferry residential campus as it looks to handle roughly 30 child abuse lawsuits in Chapter 11, lawyers for the nonprofit told a New York bankruptcy judge during a first-day hearing on Monday.
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May 13, 2024
Jackson Walker Seeks Sanctions Over Judge Romance Suit
Jackson Walker LLP asked a Texas federal court Monday to sanction lawyers and their "disgruntled millionaire" client for leveling racketeering allegations in a lawsuit over a former bankruptcy judge's romantic relationship with a former firm lawyer, saying the claims are "frivolous" and "conclusory."
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May 13, 2024
Ga. Election Workers Ask Court To Stop Giuliani's Lies
Two Georgia poll workers have asked a New York federal bankruptcy judge to bar Rudy Giuliani from continuing to repeat the same "malicious" false claims that led a jury to award them $148 million last year because of the former New York City mayor's lies that the pair committed ballot fraud during the 2020 presidential election.
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May 10, 2024
ABI Meeting Debates Purdue, DIPs, Data Breaches And Incora
Lawyers met in Manhattan for the American Bankruptcy Institute's daylong New York City Bankruptcy Conference on Thursday, taking in a packed day of panels on subjects ranging from Purdue Pharma to debtor-in-possession financing trends and the increasingly complicated presumption of transparency in bankruptcy.
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May 10, 2024
Full 4th Circ. Urged To Settle Key 'Texas Two-Step' Questions
A Fourth Circuit panel left critical issues open when it denied permission to an appeal challenging the so-called Texas two-step Chapter 11 of industrial equipment maker Aldrich Pump, asbestos claimants in two separate bankruptcy cases said, asking the full appeals court to reconsider hearing the case and settle questions that have plagued their own bankruptcies in the Western District of North Carolina.
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May 10, 2024
Del. Court Extends Ch. 11 Stay To Jambys Execs
A Delaware bankruptcy judge on Friday gave permission to online clothing brand Jambys Inc. to apply the automatic stay covering the company to its two co-founders, finding that they personally guaranteed many of the debtor's loans and needed protection from collection actions.
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May 10, 2024
JLM Couture Nears Settlement With Bridal Dress Designer
Dressmaker JLM Couture told Delaware's bankruptcy court Friday it reached an agreement in principle with a bridal dress designer, who was sued by the company and had sought to convert its Chapter 11 case into a Chapter 7 liquidation.
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May 10, 2024
Sam Ash Music Can Tap $20M DIP That Trustee Opposed
Music store chain Sam Ash won a New Jersey bankruptcy court's blessing Friday to borrow $20 million in Chapter 11 financing, defeating an objection by the U.S. Trustee's Office to a mechanism that would let the funds be used to pay off existing debt held by the lender.
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May 10, 2024
Legal Tech Co. IDocket Settles $5M Claim With IT Co. IncluIT
Government case management and court record search provider iDocket.com has asked a Texas bankruptcy court to approve a settlement between itself and Florida software company IncluIT concerning a disputed claim of $5.3 million.
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May 10, 2024
Baker Donelson Adds Bankruptcy Pro Amid High Demand
Firms are still scouting bankruptcy talent throughout the U.S., with Baker Donelson Bearman Caldwell & Berkowitz PC announcing Thursday that it has added a former Lugenbuhl Wheaton Peck Rankin & Hubbard attorney focused on bankruptcy and workout law.
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May 10, 2024
Casa Systems Strikes Deal For Ch. 11 Cash Collateral
Casa Systems Inc. said Friday it was ready to submit a cash collateral order for the Delaware bankruptcy court's approval, after the debtor, its unsecured creditors committee and an ad hoc group of secured lenders reached a settlement to use that cash under terms acceptable to all three parties.
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May 10, 2024
Toymaker KidKraft Files Ch. 11 With Plan To Sell Assets
Dallas toy company KidKraft Inc. filed for Chapter 11 protection in a Texas bankruptcy court Friday with more than $100 million in debt, blaming economic headwinds and saying it has a prepackaged sale plan.
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May 09, 2024
Syracuse Diocese Creditors Urge Contempt On Insurer Leaks
Unsecured creditors of the bankrupt Roman Catholic Diocese of Syracuse have asked a New York judge to hold insurers Interstate and an affiliate of Allianz in contempt for sharing confidential sex abuse survivors' claim information with third parties and failing to inform the debtor or the court.
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May 09, 2024
Judge Will OK Chicken Co.'s $7M Ch. 7 Sale
A Delaware bankruptcy judge on Thursday agreed to grant the liquidation trustee for a defunct poultry producer approval to sell the company's assets to a competitor for $7.1 million, overruling a limited objection from another company that holds a lien on one of the debtor's properties.
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May 09, 2024
Five Retailers That May Face Bankruptcy In 2024
Clothing stores, a discount retailer and a prominent fabrics business have already filed for bankruptcy protection this year, each struggling in their own way in the post-pandemic economy. Here are five more companies that may be at risk of filing for bankruptcy in 2024.
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May 09, 2024
Texas Court Urged To Keep Alive Judge Romance Suit
In a flurry of filings, a former shareholder in an engineering company has pushed a Texas federal court to reject bids to throw out his lawsuit over an ex-bankruptcy judge's secret relationship with a former Jackson Walker LLP attorney.
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May 09, 2024
Apnea Device Maker ProSomnus Gets OK For Ch. 11 Loan
A Delaware bankruptcy judge Thursday gave sleep apnea device maker ProSomnus interim permission to tap into $13 million in Chapter 11 financing to fund the company through what it says will be the end of its case in August.
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May 09, 2024
Sam Ash Music Hits Ch. 11, Plans To End 100-Year Retail Run
Sam Ash Music, a 100-year-old music instrument retailer, filed for Chapter 11 protection in New Jersey bankruptcy court with up to $500 million in debt and plans to close its 42 stores in the U.S., citing weakened sales as customers shifted to online shopping during the COVID-19 pandemic.
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May 08, 2024
Meet The Attys For Cybersecurity Firm Appgate's Ch. 11
A team of attorneys from Kirkland & Ellis LLP and Cole Schotz PC are representing technology firm Appgate Inc. in its Chapter 11 bankruptcy in Delaware, which began Monday roughly three years after its initial public offering backed by $1 billion in investments.
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May 08, 2024
Appgate To Get Interim OK To Tap $8M Of $18M DIP
A Delaware bankruptcy judge Wednesday agreed to give interim approval for technology firm Appgate Inc. to tap $8 million of its debtor-in-possession financing to fund its way through its prepackaged bankruptcy.
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May 08, 2024
NY AG Says $6M NRA Verdict Should Stand
A New York state court should not undo a jury's finding that the National Rifle Association allowed its officers to misappropriate $6.4 million of donor money, the state's attorney general has argued, saying trial evidence abundantly laid out evidence of misconduct and organizational failures.
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May 08, 2024
Bill To Undo SEC Crypto Accounting Bulletin Passes House
Lawmakers in the U.S. House of Representatives on Wednesday voted to overturn the U.S. Securities and Exchange Commission's controversial cryptocurrency accounting guidance despite protests from Democrats to take a more targeted approach to amend the directive and a White House pledge to veto the bill.
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May 08, 2024
Biotech Co. NanoString Seeks Vote On Updated Ch. 11 Plan
Seattle-based life sciences firm NanoString Technologies Inc. has asked a Delaware bankruptcy judge to let it send its amended Chapter 11 liquidation and wind down plan, which would use money from the $393 million sale of its business to repay nearly all creditors, out for a vote.
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May 08, 2024
Arbitration Costs Stymie Eletson Holdings Ch. 11 Fee Deal
A dispute over professional fee applications in the Chapter 11 case of shipping company Eletson Holdings was largely resolved Wednesday in a New York bankruptcy court, but questions about fees incurred by lawyers working on an arbitration action outside of bankruptcy kept a final resolution at bay.
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May 08, 2024
Hurricane Ads Suit Paused For Law Firm Amid Ch. 11 Case
In light of its recent bankruptcy filing, a Texas federal judge has paused class claims against a beleaguered Texas law firm accused of misconduct in soliciting clients in hurricane-related property damage cases, but the case remains active against a legal funding outfit and other defendants.