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Catching Up With New Bankruptcy Case Action
A string of real estate owners and developers sought Chapter 11 protections. The publisher behind a 1970s science fiction magazine is looking to liquidate in Chapter 7. A Florida physician group said it's hoping to cut down on its debt and restructure through Chapter 11. And a mid-Atlantic construction equipment dealer owned by a Texas private equity group filed for Chapter 11.
How Dallas Emerged As Hotspot For Complex Ch. 11 Cases
When big U.S. companies file for bankruptcy protection, they're increasingly doing so in Dallas, thanks to the depth of experience of its bench, streamlined procedures for complex Chapter 11 cases and a vibrant local economy, experts told Law360.
First Brands CEO Resigns, Spirit Wins $200M DIP Facility
Bankrupt auto parts maker First Brands' founder stepped down as CEO. Spirit Airlines won approval for $200 million in debtor-in-possession financing and a settlement with its lessor. Global Wound Care warned that delayed Medicare payments, worsened by the government shutdown, threaten its liquidity. And a Delaware judge approved CareerBuilder + Monster's Chapter 11 plan. This is the week in bankruptcy.
Catching Up With New Bankruptcy Case Action
A string of real estate owners and developers sought Chapter 11 protections. The publisher behind a 1970s science fiction magazine is looking to liquidate in Chapter 7. A Florida physician group said it's hoping to cut down on its debt and restructure through Chapter 11. And a mid-Atlantic construction equipment dealer owned by a Texas private equity group filed for Chapter 11.
How Dallas Emerged As Hotspot For Complex Ch. 11 Cases
When big U.S. companies file for bankruptcy protection, they're increasingly doing so in Dallas, thanks to the depth of experience of its bench, streamlined procedures for complex Chapter 11 cases and a vibrant local economy, experts told Law360.
First Brands CEO Resigns, Spirit Wins $200M DIP Facility
Bankrupt auto parts maker First Brands' founder stepped down as CEO. Spirit Airlines won approval for $200 million in debtor-in-possession financing and a settlement with its lessor. Global Wound Care warned that delayed Medicare payments, worsened by the government shutdown, threaten its liquidity. And a Delaware judge approved CareerBuilder + Monster's Chapter 11 plan. This is the week in bankruptcy.
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Large Cap More
A New York bankruptcy judge disqualified Reed Smith LLP from continued work in the Chapter 11 case of reorganized oil and gas shipping company Eletson Holdings on Thursday, saying the law firm's clients no longer exist.
A trustee for Rite Aid Corp.'s bankruptcy estate has sued Walgreens Boots Alliance Inc. and a subsidiary, Walgreen Co., in Delaware Chancery Court, accusing the pharmacy giant of failing to cover tens of mill... (more story)
Illinois' insurance regulator demanded that State Farm turn over data over its homeowners insurance business, the Sixth Circuit affirmed class certification in a dispute over State Farm's payments for totaled ... (more story)
The Office of the U.S. Trustee has urged the swift appointment of an examiner to probe car parts group First Brands' Texas bankruptcy, echoing a creditor's call for an independent investigation into over $2 bi... (more story)
A New Jersey federal judge this week declined to reconsider his order throwing out an attorney's copyright infringement suit against Netflix Inc. over his documentary about sexual abuse in the Boy Scouts of America.
A Texas bankruptcy judge on Wednesday denied a request by a group of Linqto shareholders to set up an equity committee in the investment platform's Chapter 11 case, saying it wasn't clear whether the company will be solvent.
Alleging trial lawyer case aggregators at Slater Slater Schulman have "run amok" in the Boy Scouts sexual abuse case, a claimants group has moved for a bankruptcy court order terminating contingency fee legal ... (more story)
A New York bankruptcy judge Wednesday approved nine remaining settlements with insurance companies for the Roman Catholic Diocese of Syracuse as part of its Chapter 11 plan, following her approval of two earli... (more story)
Consulting firm AlixPartners received a Texas bankruptcy court's approval Wednesday to be paid nearly $6.4 million in professional fees and expenses for its work as a restructuring advisor for insolvent party ... (more story)
A New York bankruptcy judge has rejected the state of Texas' attempt to hold General Motors liable for alleged data privacy violations committed by the company's predecessor before its 2009 bankruptcy, ruling ... (more story)
Mid Cap More
Northeast Insurance Co., a captive insurer for several hospitals and a Jewish nonprofit, asked a New York bankruptcy judge for Chapter 15 recognition of its Bermuda liquidation filing, saying it was rendered i... (more story)
Cajun restaurant chain Razzoo's Inc. has put together a triumvirate of attorneys from Okin Adams Bartlett Curry LLP to assist it in using Chapter 11 to restructure and stage a possible future expansion.
An Illinois state judge on Wednesday gave the final nod to a settlement deal that includes a $60 million judgment, ending investors' negligence claims against their investment adviser, though claims remain ong... (more story)
The liquidating trust for Kal Freight Inc.'s estate has sued several companies in Texas bankruptcy court, alleging they were complicit in a scheme orchestrated by its former owners to siphon millions of dollar... (more story)
A former Caterpillar employee urged an Illinois federal judge on Tuesday not to let his bankruptcy spell doom for his lawsuit claiming the machinery manufacturer illegally collects applicants' family medical h... (more story)
Crowell & Moring on Wednesday announced that it is expanding its healthcare team with the addition of a first-chair trial attorney who co-founded the healthcare practice at Robins Kaplan LLP, where he was most... (more story)
The Office of the U.S. Trustee has appointed an unsecured creditors committee in Cajun restaurant chain Razzoo's Inc.'s Chapter 11 case composed of My Tech Texas LLC, South Loop Development LLC and Sabine 2016-1 LLC.
Chamberlain Hrdlicka White Williams & Aughtry has boosted its bankruptcy team with the addition of a shareholder who previously co-managed the Houston office of Eversheds Sutherland, where he practiced for over two decades.
The owners of a boutique hotel in Brooklyn and its management company must return pandemic-era refundable tax credits that they received as the hotel filed for Chapter 11 bankruptcy protection, a New York bank... (more story)
A Delaware bankruptcy judge on Wednesday gave Tilson Technology Management permission to sell its breach of contract claims stemming from the project that sent the fiber network developer into Chapter 11.