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Red Lobster Filing, Giuliani Deal, New Jersey's Rise As Venue
Seafood restaurant chain Red Lobster filed for bankruptcy in Florida with $294 million in funded debt after a failed "endless shrimp" promotion, Rudy Giuliani and two election workers who sued him for defamation said they were close to a deal to resolve a lawsuit filed in his bankruptcy case, and a top New Jersey judge disclosed the Garden State was the second-busiest bankruptcy venue over the past year.
Genesis, Curo Get Ch. 11 Plans OK'd At Different Speeds
Two major Chapter 11 cases won confirmation last week on very different timelines, with crypto lender Genesis Global Holdco LLC finally on an exit path after more than a year and consumer lender Curo Group Holdings Corp. gaining court approval less than two months after it filed for bankruptcy.
Steward Health Ch. 11 Lifts Lid On PE In Healthcare
Steward Health's $9 billion Chapter 11 has come under scrutiny from state attorneys general seeking to uncover why a once-rapidly growing hospital network ended up buried in debt, with authorities taking the unusual tack of turning a special eye toward its former private equity owner Cerberus Capital Management, experts told Law360.
Large Cap More
Rite Aid has reached an agreement with Brand Design Co. to end a lawsuit claiming that the drugstore chain misused the design firm's font for a new logo, the parties have told a Pennsylvania federal court.
Fashion retailer Express Inc. told a Delaware bankruptcy judge the company has decided to reject the leases for 17 of its stores in its Chapter 11 case, including a lease for its store on Fifth Avenue in New Y... (more story)
Johnson & Johnson's bankrupt talc unit accused the Beasley Allen Law Firm of attempting to intentionally "bias" the vote against its recently announced proposal to pay out $6.5 billion in a prepackaged reorgan... (more story)
Delaware was full of drama last week, as proposed changes to the state's corporate law statutes raised eyebrows and a professor's friend-of-the-court brief sparked a very unfriendly public exchange. Delaware's... (more story)
Public defenders for Tom Girardi want to ask prospective jurors in his upcoming fraud trial whether they have seen his wife's reality television show and news reporting about his law firm's massive scandal, ac... (more story)
A Colorado woman on Thursday pled guilty in D.C. federal court for her part in a SIM swapping scheme that appears to encompass more than $400 million stolen from the now-bankrupt cryptocurrency exchange FTX.
A group of ConvergeOne lenders asked a Texas bankruptcy judge Friday to reject the information technology company's prepackaged Chapter 11 plan, saying an equity rights offering underpinning the proposal unfai... (more story)
A healthcare company that provides services to members of the military and their families sued debtor Steward Health Care on Thursday in Texas bankruptcy court, asking a judge there to declare that the provide... (more story)
This past week in London has seen a wave of claims filed against Verity Trustees Ltd., Harley-Davidson hit retailer Next with an intellectual property claim, Turkish e-commerce entrepreneur Demet Mutlu sue her... (more story)
A Delaware bankruptcy judge said Friday that she was prepared to send Cano Health Inc.'s Chapter 11 plan out for a creditor vote after hearing the medical care group has reached a $7 million settlement with it... (more story)
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An ad hoc group holding some of the debt of Colombian consumer lending giant Credivalores-Crediservicios voiced concerns about the debtor's prepackaged Chapter 11 plan, prompting the debtor to extend its objec... (more story)
A Virginia company that filed for Chapter 11 bankruptcy is on the hook for a disputed corporate income tax assessment because the liability occurred after the company emerged from bankruptcy, the state's tax c... (more story)
Nonslip shoe company Shoes for Crews has canceled a planned auction for its assets after receiving no bids and declared it will go forward with a sale to a group of its first-lien lenders for a $290 million credit bid.
View Inc., a "smart glass" maker once valued at $2 billion, received a Delaware bankruptcy judge's approval on Monday to convert more than $274 million in debt to equity under a Chapter 11 plan that calls for ... (more story)
A Houston attorney being sued for alleged misconduct in soliciting hurricane victims has asked a federal court to include him in a bankruptcy-triggered pause in the proceedings against his law firm, arguing th... (more story)
The Red Lobster seafood restaurant chain has filed for Chapter 11 protection in a Florida bankruptcy court with $294 million in debt and sale plans, saying its problems included its equity owner and shrimp sup... (more story)
Teen apparel retailer rue21 has informed a Delaware bankruptcy judge it accepted a nearly $4 million stalking-horse bid to sell its brands and other intellectual property to Canadian fashion house YM Inc.
Shareholders of a special purpose acquisition company that took a now-bankrupt smart window manufacturer public have reached a tentative agreement to settle their proposed Delaware Chancery Court class action ... (more story)
"Say Yes to the Dress" bridal designer Hayley Paige Gutman will receive ownership of social media accounts created by the designer in exchange for a settlement payment to her former employer, bankrupt dressmak... (more story)
Delaware's Court of Chancery has approved the final accounting for medical device company EndoStim Inc.'s state-administered insolvency proceeding after no creditor or other party raised any objections at a fi... (more story)