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Whether they are selling burgers, fried chicken or rent-to-own furniture, a number of businesses that filed for bankruptcy over the past year have had one thing in common: They're ruled by their franchise agreements.
A Texas bankruptcy court has converted the Chapter 11 cases of e-commerce software company Society Pass Inc. to a liquidation under Chapter 7, citing management's recent exit from the company, its failure to file monthly operating reports and lack of instructions for debtor counsel.
Visual media giant Getty Images filed for Chapter 11 to go private. A rural telecommunications group filed for bankruptcy protections after high construction costs derailed expansion projects, and creditors placed an indirect U.S. subsidiary of petrochemical group Braskem into Chapter 11.
A series of leadership failures and strategic missteps preceded the precipitous downfall of Weil Gotshal & Manges LLP, sources told Law360 Pulse.
Artificial intelligence-powered pharmaceutical group BioXcel has asked a Delaware bankruptcy judge to sign off on a $9.75 million settlement between the debtor and plaintiffs in a securities class action again... (more story)
The stunning collapse of Weil Gotshal & Manges LLP is the talk of BigLaw this week, as those in the industry grapple with how the powerhouse Wall Street firm could implode so quickly.
As Weil Gotshal & Manges LLP prepares to wind down operations, more than 1,000 attorneys worldwide find themselves job-hunting in an already crowded market.
The attorney general has tapped one of Walsh Pizzi O'Reilly Falanga LLP's founders to take up the reins as director of the U.S. Trustee Program, the U.S. Department of Justice announced Thursday.
A BAE Systems Inc. spokesperson said in a statement Thursday the nationwide Bankruptcy Noticing Center has resumed operations following a cybersecurity incident that had brought the system to a halt earlier this month.
A flight attendants union's objection to Spirit Airlines' planned $10 million sale of employee data to Google for use in training artificial intelligence presents novel legal questions and a chance for unions ... (more story)
A former executive at Eletson Gas urged a New York federal court to reverse an arrest warrant for contempt and a $726,000 judgment imposed on him, arguing he was never properly served and had ceased working at... (more story)
A California bankruptcy judge Wednesday signaled he would allow the Archdiocese of San Francisco to solicit votes on its $395 million Chapter 11 plan, after the debtor agreed to include in its disclosures a st... (more story)
A New York bankruptcy judge Wednesday found an attempt to evict a member of Purdue Pharma's former owning family from a Connecticut home and sell it to pay opioid claims did not violate the drugmaker's Chapter 11 plan.
The Bermuda holding company for a group of insurers and reinsurers is seeking Chapter 15 protection in New York to further its cross-border liquidation, following its default on a roughly $125 million loan tie... (more story)
A bankrupt Florida-based real estate investment trust's entity and two other companies have asked a Florida bankruptcy court to approve their settlement in a Texas state court lawsuit that involved multiple fo... (more story)
Discount retailer Poundland indicated Thursday that it plans to appoint administrators after it said it was unable to find an acceptable buyer following years of financial troubles.
The U.S. Trustee's Office said a Delaware bankruptcy judge must appoint a consumer privacy ombudsman to review the sale of artificial intelligence entertainment platform Character Technologies' assets, saying ... (more story)
Secured creditors of four properties in New Jersey have asked a bankruptcy judge in the state to force debtor Supor Properties Enterprises LLC to immediately transfer the properties after a $66 million refinan... (more story)
Weil Gotshal & Manges LLP, the restructuring powerhouse that led Lehman Brothers, Enron and General Motors through bankruptcy, told Law360 Pulse Wednesday that the firm is preparing to wind down operations.
Bankrupt health-focused restaurant chain True Food Kitchen received court approval in Texas on Tuesday for a slate of relief on a final basis, including motions seeking to pay the prepetition claims of vendors... (more story)
Book distributor Baker & Taylor can begin soliciting creditors' votes for its Chapter 11 liquidation plan ahead of a confirmation hearing in December, a New Jersey bankruptcy judge said Tuesday.
Grocery delivery giant HelloFresh has appealed a New Jersey bankruptcy judge's decision to confirm food kit service FreshRealm Inc.'s Chapter 11 plan, saying the appellate case turns on whether the plan improp... (more story)
A Delaware bankruptcy judge Tuesday gave the nod to private-label dry bath products maker Vi-Jon to solicit votes on its Chapter 11 plan, overruling insurer objections that the plan would impermissibly assign ... (more story)
Jane VanLare and Timothy Wolfe
Though Spirit Airlines' first Chapter 11 plan was broadly supported and moved swiftly through confirmation, it avo... (more story)
Michael Ott
The tendency of generative artificial intelligence models to tell users what they want to hear can reinforce attor... (more story)
Kenneth Rosen
A dispute in the Hughes Satellite Systems Chapter 11 case, pending in Texas bankruptcy court, raises a recurring i... (more story)