Mid Cap
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March 12, 2025
Inflation, Manufacturing Woes Landed Aerospace Co. In Ch. 11
Quality control issues stemming from inconsistent manufacturing practices and global inflation spiking inventory costs led Dynamic Aerostructures LLC, a California-based supplier to aerospace companies like Boeing and Lockheed Martin, to seek bankruptcy protection in late February with up to $100 million in debt, according to its court papers.
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March 12, 2025
US Trustee Seeks Sanctions Against NY Lawyer
The federal bankruptcy watchdog asked a New York judge Wednesday to sanction a lawyer who allegedly concealed her conflicts of interest while representing a debtor and a buyer in two separate Chapter 11 cases.
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March 12, 2025
Fox Rothschild Hires Lewis Brisbois Litigator In DC
A trial attorney who spent the past four years at Lewis Brisbois, has moved his practice to Fox Rothschild LLP and told Law360 Pulse in an interview Wednesday that his new role continued a family tradition of Fox Rothschild attorneys stretching back 100 years.
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March 11, 2025
Zachry Opposes Nebraska Utility's $38M Administrative Claim
Bankrupt natural gas contractor Zachry Holdings has objected to a Nebraska public electric utility's administrative claim seeking $38 million in damages for delays in the construction of new generating stations, saying it is too early to seek the claim, and the requested fees exceed the purported damages.
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March 11, 2025
Catching Up With New Bankruptcy Case Action
A business automation firm, a dermatology technology maker and a telecommunications business software group all filed for Chapter 11 with debt-for-equity swap plans. A Tex-Mex restaurant chain filed for Chapter 11 in the face of macroeconomic pressures. An energy industry engineering firm filed for bankruptcy after trade debt bogged down merger or sale efforts. A Missouri car transporter is looking to liquidate in Chapter 7, and two real estate companies filed for Chapter 11 in New York.
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March 11, 2025
Judge Questions Authority To Pay Giuliani's Ch. 11 Bill
A New York bankruptcy judge questioned Tuesday whether he could order former New York City Mayor Rudy Giuliani to sell off real estate to cover claims against his Chapter 11 estate, saying an order dismissing his bankruptcy case included assumptions that didn't come to fruition.
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March 11, 2025
Vt. Diocese Creditors Balk At Paying Accused Priests In Ch. 11
Unsecured creditors of the bankrupt Roman Catholic Diocese of Burlington on Tuesday objected to the debtor continuing to pay pension benefits to retired priests accused of abusing children, saying the diocese's own investigation found the allegations against the two priests were credible.
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March 11, 2025
Chester, Pa., Water Authority Seeks Stay Of Ch. 9 Docs Order
The Chester Water Authority has asked a Pennsylvania bankruptcy court for a stay pending appeal of an order to produce documents to the bankrupt City of Chester, which seeks to sell off the utility's assets, saying the order was unconstitutional.
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March 11, 2025
BurgerFi Gets Ok For Ch. 11 Plan Over IRS Objections
A Delaware bankruptcy judge on Tuesday confirmed the disclosure statement and Chapter 11 reorganization plan for bankrupt restaurant operator BurgerFi International Inc., overruling an objection from the U.S. government on behalf of the Internal Revenue Service regarding tax claims on certain interest fees.
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March 11, 2025
Fannie Mae Says Complex Filed Ch. 11 To Duck $73M Loan
Fannie Mae told a federal court Monday that a Houston apartment complex's Chapter 11 filing was a "tactic" to avoid its obligation to repay a $73 million loan.
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March 11, 2025
Dykema Doubles Houston Roster With 7 New Atty Hires
Dykema Gossett PLLC has expanded in Houston with the addition of seven attorneys, five of whom joined from Kane Russell Coleman Logan PC and two who came aboard from Hirsch & Westheimer PC.
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March 11, 2025
Texas Construction Co. Gets Ch. 11 Trustee After Fraud Probe
A Texas bankruptcy judge on Tuesday signed off on a request to appoint a Chapter 11 trustee to take over the bankruptcy case of Timeline Construction Inc., after the U.S. Trustee's Office said the debtor's sole member appears to have committed fraud, including allegedly providing false financial information to creditors.
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March 11, 2025
Container Store Judge To Issue Ruling On Opt-Out Dispute
A Texas bankruptcy judge said Tuesday he will issue a written opinion on whether the U.S. Trustee's Office can put The Container Store's Chapter 11 plan on hold to appeal the judge's decision that a creditor's failure to opt out of the plan's third-party releases constitutes consent to those releases.
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March 10, 2025
White Forest Committee Calls Ch. 11 Loans Insider Deal
The official committee of unsecured creditors in the Chapter 11 case of coal producer White Forest Resources Inc. objected to the debtor's proposed bankruptcy financing package, saying it is an insider transaction that puts liens on previously unencumbered assets that would no longer be available for unsecured creditor recovery.
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March 10, 2025
Insurer Says CarePoint's Ch. 11 Plan 'Fatally Flawed'
An insurer has asked a Delaware bankruptcy judge to reject CarePoint Health Systems' Chapter 11 plan, saying it is designed to unfairly benefit the debtor's landlord with liability releases.
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March 10, 2025
Judge Romance Row Remanded, Ch. 11 Plans Approved
A Texas federal judge sent part of a dispute over a former bankruptcy judge's secret romance with a onetime Jackson Walker partner back to the court where the disgraced jurist once oversaw high-profile insolvencies, ordering the CEO of a defunct barge operator to seek standing in Texas bankruptcy court.
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March 10, 2025
Fulcrum Gets OK For Ch. 11 Plan Disclosure
A Delaware bankruptcy judge has approved trash-to-gas fuel refiner Fulcrum BioEnergy Inc.'s Chapter 11 plan disclosure statement, which would grant the company's unsecured creditors up to $325 million, ahead of a brief hearing Monday after parties in the case reached a consensus on contentious issues, such as claims against directors and officers.
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March 10, 2025
PierFerd Hires 2 Ex-CM Law Bankruptcy Partners
Manhattan-based Pierson Ferdinand LLP announced Monday the hiring of two former partners at CM Law PLLC for its bankruptcy, financial restructuring and reorganization practice.
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March 10, 2025
Loeb & Loeb Adds 5-Atty Litigation Team From Kasowitz In NY
Loeb & Loeb LLP has expanded its litigation offerings in New York with the addition of five attorneys from Kasowitz Benson Torres LLP, including the leaders of the firm's software litigation and real estate litigation practices.
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March 10, 2025
Meet The Attys Advising Skin Care Tech Co. Cutera In Ch. 11
Cutera Inc., a skin care and beauty technology company, has hired lawyers from Hunton Andrews Kurth LLP and Ropes & Gray LLP to help it address unsustainable debt through a pre-packaged debt-swap Chapter 11 plan.
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March 10, 2025
Pot Shop Receiver Says Brand Licensor Diverted Product
A receiver overseeing the possible sale or liquidation of a Massachusetts cannabis retailer asked a judge to order the return of more than 900 packages of product taken from its cultivation facility days before the receivership began.
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March 10, 2025
Vehicle Trucking Co. Plans Ch. 7 Liquidation With $100M Debt
Jack Cooper Transport Co., a trucking firm that specializes in transporting vehicles, has launched a Chapter 7 case in Delaware bankruptcy court, listing at least $100 million in debt.
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March 10, 2025
Addleshaw Wins Bankruptcy Order Against Former LC&F Boss
Addleshaw Goddard has obtained a bankruptcy order against a former boss of London Capital & Finance after a court ruled he defrauded investors out of £237 million ($306 million) by running the investment company like a Ponzi scheme.
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March 07, 2025
Under The Radar: Bankruptcy News You May Have Missed
The U.S. Trustee's Office opposed Yellow Corp.'s Chapter 11 plan, saying its exculpation provisions cover ineligible people and entities. Bernie Madoff's liquidation trustee has begun doling out another $76 million to claimants. And clothing retailer Delta Apparel made a bid to pivot to a wind-down in its bankruptcy that was opposed by tax claimants in Texas.
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March 07, 2025
Trucking Co. Liquidation Hearing Delayed Amid Sale Debate
A hearing for bankrupt trucking company KAL Freight to determine whether to convert the case to a Chapter 7 liquidation was pushed back to next week as the debtor tried to finalize a Chapter 11 asset sale.
Expert Analysis
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3 Cases Show Tensions Between Arbitration And Insolvency
The intersection of international arbitration and insolvency may influence the formulation of litigation strategy on a global scale, and several recent cases illustrate the need for counsel to understand how courts are varying in their approaches, say attorneys at Skadden.
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Air Ambulance Ch. 11s Show Dispute Program Must Resume
Air Methods’ recent bankruptcy filing highlights the urgent need to reopen the No Surprises Act’s independent dispute resolution program for air ambulances, whose shutdown benefits insurance companies and hurts providers, says Adam Schramek at Norton Rose.
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Pro Bono Work Is Powerful Self-Help For Attorneys
Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.
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Why Delaware ABCs Are No Longer As Easy As 1-2-3
In light of the Court of Chancery's recent focus on additional disclosures, the assignment for the benefit of creditors process in Delaware may no longer be as efficient as it once was, and companies should be prepared to provide significantly more information leading up to an ABC, say attorneys at Goodwin.
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Diamond Sports Cases Shed Light On Executory Contracts
Recent Texas bankruptcy cases involving telecast fees payable by Diamond Sports to certain Major League Baseball teams provide a window into the dynamic relationship that can develop between debtors and counterparties under some executory contracts, say Joseph Badtke-Berkow and Robin Spigel at Allen & Overy.
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Playing In A Rock Cover Band Makes Me A Better Lawyer
Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.
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The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'
The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.
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Balancing Justice And Accountability In Opioid Bankruptcies
As Rite Aid joins other pharmaceutical companies in pursuing bankruptcy following the onslaught of state and federal litigation related to the opioid epidemic, courts and the country will have to reconcile the ideals of economic justice and accountability against the U.S. Constitution’s promise of a fresh start through bankruptcy, says Monique Hayes at DGIM Law.