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A life sciences investment fund is asking a Delaware bankruptcy judge to eject its former counsel from any involvement in its bankruptcy case. A restaurant chain is seeking a Texas bankruptcy judge's blessing to proceed toward a sale. And a New York real estate company is trying to fend off a dismissal bid from a member of its controlling family.
A team of six attorneys from Sidley Austin LLP is steering the Chapter 11 case of cancer drug developer Karyopharm Therapeutics Inc. as the company looks to merge with biotechnology firm Ayrmid and trim debt through a prepackaged bankruptcy plan.
Life science investment group Apple Tree has asked a Delaware bankruptcy judge to disqualify Quinn Emanuel from representing its portfolio companies after a Cayman Islands court installed new managers of the fund. A Texas bankruptcy judge rejected a bid from a creditor of a creditor to challenge a settlement in healthcare company Global Wound Care's Chapter 11 case. And Dish's wireless division wants a longer exclusive window to propose a reorganization plan.
Norway's central bank announced Friday that KPMG LLP has agreed to pay $224.5 million to settle a class action in California federal court accusing it of ignoring red flags in auditing Silicon Valley Bank, which collapsed ...(read more)
A Texas bankruptcy judge Friday allowed a group of Hughes Satellite creditors to introduce new evidence as he mulls whether Kirkland can represent a special committee of the satellite internet provider's directors in its C...(read more)
Airlines for America joined the objections to Spirit Airlines' proposed Chapter 11 sale of its deidentified data to Google, arguing that the transaction could make airline employees less likely to voluntarily disclose safe...(read more)
A Connecticut bankruptcy judge has approved a deal splitting rights to millions in assets between convicted Chinese securities fraudster Miles Guo's Chapter 11 trustee and federal prosecutors, with roughly $153 million in ...(read more)
The U.S. Supreme Court agreed to take up a case involving a Fourth Circuit decision that denied an attempt by Goldman Sachs to arbitrate disputes with two debtors in bankruptcy over alleged violations of the automatic stay.
A bill to increase bankruptcy debt eligibility limits for Subchapter V, opening the streamlined reorganization process to more small businesses, is awaiting a signature by the president to become law.
A ruling by an English appeals court that sanctions do not wipe out the rights of creditors has drawn a boundary around the government's powers — though lawyers warn that the restrictions still leave those rights worth muc...(read more)
The past week in London has seen Samsung sue Petrofac and its administrators, building materials giant Kingspan hit with two financial list claims by dozens of institutional investors, and Boehringer Ingelheim file a paten...(read more)
Kirkland & Ellis LLP announced Friday the addition of 40 attorneys from Weil Gotshal & Manges LLP, including the private equity practice co-leader who was once set to lead the firm.
LIV Golf is shutting down its plan to reorganize after one of its debtor-in-possession lenders backed out of its pledge to contribute $300 million toward its reorganization, the troubled men's professional golf league told...(read more)
Kansas City Chiefs player Rashee Rice has filed for Chapter 7 in Texas bankruptcy court while facing a domestic abuse lawsuit by a former girlfriend.
A California federal judge has dismissed a business owner's sprawling Racketeer Influenced and Corrupt Organizations Act suit against his former business partner after the company went too long without an attorney represen...(read more)
A New York bankruptcy judge on Friday said he will convert the Chapter 11 case of Long Island nursing home operator Cold Spring Acquisition to a court-supervised Chapter 7 liquidation as soon as the sale of the company's a...(read more)
Egyptian petrochemicals company Carbon Holdings Ltd. has accused financial adviser Houlihan Lokey of pressuring it into signing a deal to repay millions of dollars of consultancy fees owed for debt restructuring work, as i...(read more)
The Delaware Chancery Court on Thursday declined to revise rulings in a yearslong dispute over a distressed credit fund's records and more than $9 million of withheld cash, disagreeing with arguments that the fund's former...(read more)
A Pennsylvania federal bankruptcy judge had qualms Thursday about plans to wind down the last two restaurants in the formerly regional Kings Family Restaurant chain, worrying the involuntary bankruptcy was driven by lawyer...(read more)
A Delaware bankruptcy judge Thursday granted interim approval for a $1.23 million debtor-in-possession financing package for WeAre8, an artificial intelligence-moderated social media app, to fund its Chapter 11 proceedings...(read more)
A Delaware bankruptcy judge Thursday gave fitness business FitLab Inc. interim permission to take out $2.5 million in Chapter 11 financing after hearing the company will be seeking to sell off its assets.
A Texas bankruptcy judge said Wednesday that he would allow health-focused restaurant chain True Food Kitchen to borrow another $2 million to fund its Chapter 11 case and pay employees.
FitLab on Wednesday blamed supply chain disruptions in its exercise equipment business and a failed partnership with Nike for its Chapter 11 filing.
Michael Martinez and Mary Grasta
The Bankruptcy Threshold Adjustment Act may soon increase the debt limit for Subchapter V bankruptcy, making the process availa...(read more)
Hon. Brian Palmucci
A public database tracking cases involving hallucinations generated by artificial intelligence recently surpassed 2,200 entries...(read more)
Jane VanLare and Timothy Wolfe
Though Spirit Airlines' first Chapter 11 plan was broadly supported and moved swiftly through confirmation, it avoided using ma...(read more)