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ABI Meeting Debates Purdue, DIPs, Data Breaches And Incora
Lawyers met in Manhattan for the American Bankruptcy Institute's daylong New York City Bankruptcy Conference on Thursday, taking in a packed day of panels on subjects ranging from Purdue Pharma to debtor-in-possession financing trends and the increasingly complicated presumption of transparency in bankruptcy.
FTX Execs Find Order Amid Chaos To Make Creditors Whole
When cryptocurrency exchange FTX Trading Ltd. hit bankruptcy 18 months ago, its corporate records were a mess, its internal controls were non-existent and tens of billions of dollars in fiat and digital currency were scattered about the globe. Yet, efforts to straighten out the operation have led to a Chapter 11 plan where customers are slated to receive full recoveries.
Five Retailers That May Face Bankruptcy In 2024
Clothing stores, a discount retailer and a prominent fabrics business have already filed for bankruptcy protection this year, each struggling in their own way in the post-pandemic economy. Here are five more companies that may be at risk of filing for bankruptcy in 2024.
Large Cap More
A Fourth Circuit panel left critical issues open when it denied permission to an appeal challenging the so-called Texas two-step Chapter 11 of industrial equipment maker Aldrich Pump, asbestos claimants in two... (more story)
Firms are still scouting bankruptcy talent throughout the U.S., with Baker Donelson Bearman Caldwell & Berkowitz PC announcing Thursday that it has added a former Lugenbuhl Wheaton Peck Rankin & Hubbard attorn... (more story)
Vinson & Elkins LLP urged a Virginia bankruptcy court on Thursday to reject "outrageous claims" by the U.S. Trustee's Office that the law firm shouldn't be allowed to represent Enviva in the wood-pellet maker'... (more story)
The parent company of sports network operator Bally Sports has asked a Texas bankruptcy judge to approve renewed multiyear contracts with DirecTV, saying the revenue from the deal is a "critical component" of ... (more story)
Unsecured creditors of the bankrupt Roman Catholic Diocese of Syracuse have asked a New York judge to hold insurers Interstate and an affiliate of Allianz in contempt for sharing confidential sex abuse survivo... (more story)
Medical Properties Trust, a healthcare real estate investment trust, lost $736 million in the first quarter of the year from the financial collapse of Steward Health Care, a major tenant, and the write-off of ... (more story)
In a flurry of filings, a former shareholder in an engineering company has pushed a Texas federal court to reject bids to throw out his lawsuit over an ex-bankruptcy judge's secret relationship with a former J... (more story)
A New York state court should not undo a jury's finding that theĀ National Rifle Association allowed its officers to misappropriate $6.4 million of donor money, the state's attorney general has argued, saying t... (more story)
Bankrupt cryptocurrency exchange FTX Trading Ltd. has claimed its proposed Chapter 11 plan would be able to pay creditors in full with a $13 billion distribution that exceeds the estimated allowable $11.2 bill... (more story)
Lawmakers in theĀ U.S. House of Representatives on Wednesday voted to overturn the U.S. Securities and Exchange Commission's controversial cryptocurrency accounting guidance despite protests from Democrats to t... (more story)
Mid Cap More
A Delaware bankruptcy judge on Friday gave permission to online clothing brand Jambys Inc. to apply the automatic stay covering the company to its two co-founders, finding that they personally guaranteed many ... (more story)
Dressmaker JLM Couture told Delaware's bankruptcy court Friday it reached an agreement in principle with a bridal dress designer, who was sued by the company and had sought to convert its Chapter 11 case into ... (more story)
Music store chain Sam Ash won a New Jersey bankruptcy court's blessing Friday to borrow $20 million in Chapter 11 financing, defeating an objection by the U.S. Trustee's Office to a mechanism that would let th... (more story)
Government case management and court record search provider iDocket.com has asked a Texas bankruptcy court to approve a settlement between itself and Florida software company IncluIT concerning a disputed clai... (more story)
Casa Systems Inc. said Friday it was ready to submit a cash collateral order for the Delaware bankruptcy court's approval, after the debtor, its unsecured creditors committee and an ad hoc group of secured len... (more story)
Dallas toy company KidKraft Inc. filed for Chapter 11 protection in a Texas bankruptcy court Friday with more than $100 million in debt, blaming economic headwinds and saying it has a prepackaged sale plan.
A Delaware bankruptcy judge on Thursday agreed to grant the liquidation trustee for a defunct poultry producer approval to sell the company's assets to a competitor for $7.1 million, overruling a limited objec... (more story)
A Delaware bankruptcy judge Thursday gave sleep apnea device maker ProSomnus interim permission to tap into $13 million in Chapter 11 financing to fund the company through what it says will be the end of its case in August.
A Delaware bankruptcy judge Wednesday agreed to give interim approval for technology firm Appgate Inc. to tap $8 million of its debtor-in-possession financing to fund its way through its prepackaged bankruptcy.
Seattle-based life sciences firm NanoString Technologies Inc. has asked a Delaware bankruptcy judge to let it send its amended Chapter 11 liquidation and wind down plan, which would use money from the $393 mil... (more story)