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Stranglehold Of Debt, Litigation Drove FAT Brands To Ch. 11
A CEO who once served prison time and was later accused of fraud. A series of acquisitions that left the company sharply overleveraged, ensnared in a knot of debt. This isn't a crypto firm or investment scheme. It's restaurant franchiser FAT Brands, which filed for bankruptcy last week.
Meet The Attorneys Helping Nine Energy In Its Ch. 11
Oilfield service provider Nine Energy Services has tapped attorneys from Kane Russell Coleman Logan PC and Kirkland & Ellis LLP to lead it through the Chapter 11 case it began in order to address nearly $400 million in debt.
Plastics Co. Pretium Struggled With Debt Years Before Ch. 11
Pretium Packaging, a private equity-backed maker of rigid plastic containers, collapsed into bankruptcy last week less than three years after completing a debt exchange that injected $200 million into the company, highlighting its persistent struggles to stabilize its business in the face of more than $1 billion in debt.
Large Cap More
A $50 million offer from brand manager Iconix International will be the baseline bid for a Chapter 11 auction of licensing rights for golf legend Jack Nicklaus' name, rights holder GBI Services has told a Dela... (more story)
A group of insurers that issued policies to bankrupt auto parts maker First Brands Group notified a Texas bankruptcy judge that they intend to appeal a January ruling on the ability of company executives to ac... (more story)
Ice Miller LLP has opened an office in Delaware by bringing on an experienced bankruptcy attorney from Potter Anderson & Corroon LLP, which the firm's chief managing partner said is a strategic move to give th... (more story)
A Texas bankruptcy judge granted senior living-focused private equity investor Inspired Healthcare Capital interim approval of a $35 million Chapter 11 financing package, allowing the debtor access to $10 million.
Defunct investment platform Linqto closed out a two-day Chapter 11 confirmation hearing Wednesday in Texas bankruptcy court, as supporters touted a plan establishing two recovery options for customers, and obj... (more story)
The Bankruptcy Administration Improvement Act of 2025 that sailed through Congress last month has made it to the desk of President Donald Trump and is awaiting his signature.
Lloyd's Of London and other insurers objected Tuesday to a motion from the bankrupt Roman Catholic Diocese of Albany, New York, seeking to allow an $8 million judgment in favor of an individual abuse claimant,... (more story)
Hartford HealthCare Corp. must hand over internal documents detailing its $86.1 million acquisitions of two hospitals from bankrupt Prospect Medical to a group of plaintiffs who accuse the health system of try... (more story)
Former Tricolor Holdings CEO Daniel Chu can tap part of the subprime auto lender's directors and officers insurance to pay for legal expenses incurred defending himself against fraud claims brought by the gove... (more story)
First Brands Group's unsecured creditors urged a Texas bankruptcy judge to let them retain Nardello & Co. as a forensic financial adviser and assist with their investigation into the "pervasive looting and fra... (more story)
Mid Cap More
The U.S. Bankruptcy Court for the District of Delaware has held the owners and affiliates of a defunct government contractor in contempt for violating a court-ordered asset freeze, concluding that they imprope... (more story)
Francesca's, a women's clothing boutique, filed for Chapter 11 bankruptcy relief Thursday in New Jersey to support an orderly store closing and wind-down of its business.
The bankrupt American Signature Furniture secured approval late Wednesday to move forward with a nearly $159 million sale to its top creditors — interests of the Schottenstein family of companies — after they ... (more story)
Unsecured creditors of the owner of a Long Island nursing home have asked a New York bankruptcy judge to deny the debtor any more extra time during which it has the exclusive right to file a liquidation plan, ... (more story)
A Delaware bankruptcy judge Wednesday approved the sale of recreational-vehicle fridge distributor Norcold LLC's assets to an insider, finding the sale of litigation claims did not amount to releases for the insiders.
The sentencing of a former executive at rapper Curtis "50 Cent" Jackson's liquor brand came to an 11th-hour halt Tuesday following the prosecution's letter suggesting he violated his agreement in which he pled... (more story)
Insurers for a bankrupt financial services company are not obligated to cover settlement payments and defense costs stemming from a pair of mortgage fee class actions, the Second Circuit affirmed Tuesday, find... (more story)
A Texas bankruptcy judge Tuesday gave oilfield service provider Nine Energy Services interim approval to tap into $56 million in Chapter 11 financing and set an early March hearing for the company's prepackage... (more story)
Google's artificial intelligence summary erroneously referred to a nonexistent false review of a Denver bankruptcy law firm before Google removed the firm's business profile without explanation, the firm told ... (more story)
Bankrupt urgent care facility operator Carbon Health Technologies Inc. received approval on Tuesday in Texas to access $9 million in Chapter 11 lending to fund its case as it pursues a dual-track process to sw... (more story)