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Under The Radar: Bankruptcy News You May Have Missed
Chipmaker Wolfspeed Inc. plans to sell $87 million in Macom Technology Solutions shares ahead of its expected exit from bankruptcy, a local New York real estate buyer was hit with triple fines for filing at least 22 bankruptcy petitions over two years to delay foreclosures, and Gateway Development Group's chief financial officer and chair must list assets to cover a $51.2 million prejudgment remedy in a derivative suit.
Tanking Demand Kicks Off Bourbon Industry 'Bloodbath'
A swift and sudden change in consumer preferences has left bourbon and other liquor distillers holding millions of barrels of aged spirits with a shrinking market of drinkers to consume them, threatening the $9 billion bourbon industry after years of rapid expansion, experts say.
Broadway Producer's Ch. 11 Plan Tests Purdue Ruling Limits
The bankruptcy plan of a Tony Award-winning theater production company is exploring the boundaries of the U.S. Supreme Court's Purdue Pharma decision last year barring nonconsensual liability releases for nondebtors and, if affirmed on appeal, experts say it could become a model for other small businesses looking to reorganize.
Under The Radar: Bankruptcy News You May Have Missed
Chipmaker Wolfspeed Inc. plans to sell $87 million in Macom Technology Solutions shares ahead of its expected exit from bankruptcy, a local New York real estate buyer was hit with triple fines for filing at least 22 bankruptcy petitions over two years to delay foreclosures, and Gateway Development Group's chief financial officer and chair must list assets to cover a $51.2 million prejudgment remedy in a derivative suit.
Tanking Demand Kicks Off Bourbon Industry 'Bloodbath'
A swift and sudden change in consumer preferences has left bourbon and other liquor distillers holding millions of barrels of aged spirits with a shrinking market of drinkers to consume them, threatening the $9 billion bourbon industry after years of rapid expansion, experts say.
Broadway Producer's Ch. 11 Plan Tests Purdue Ruling Limits
The bankruptcy plan of a Tony Award-winning theater production company is exploring the boundaries of the U.S. Supreme Court's Purdue Pharma decision last year barring nonconsensual liability releases for nondebtors and, if affirmed on appeal, experts say it could become a model for other small businesses looking to reorganize.
Expert Analysis
With corporate bankruptcy filings for the first half of the year at a 15-year high, landlords should be prepared f... (more story)
While an Eleventh Circuit majority recently found in BenShot v. 2 Monkey Trading and Lucky Shot USA that corporate... (more story)
Preparing lawyers for the nuances of a transactional practice is not a strong suit for most law schools, but, in p... (more story)
Large Cap More
Four individuals have been hit with a proposed class action from an investment advisory firm, accusing them of using purported investments in ATM networks to run a $700 million Ponzi scheme.
Yellow Corp.'s largest public shareholders are ripping the trucking company's fourth attempt at getting a Chapter 11 liquidating plan approved, telling a Delaware bankruptcy judge the newest one would leave "t... (more story)
A Texas bankruptcy judge on Wednesday gave final approval to nursing home operator Genesis Healthcare Inc.'s updated $30 million debtor-in-possession loan and Chapter 11 sale procedures after a three-day heari... (more story)
A former Jackson Walker LLP partner accused of hiding a romance with a former Texas bankruptcy judge asked a court Tuesday to toss a group of bondholders' proposed class action over their company's Chapter 11 proceeding.
A Texas bankruptcy judge on Wednesday gave final confirmation to Party City's Chapter 11 liquidation plan, overruling an objection from the U.S. Trustee's Office, who argued that the plan improperly reduces ad... (more story)
A New York bankruptcy judge on Wednesday approved the Roman Catholic Diocese of Syracuse's plan to settle its sexual abuse liability for $176 million, saying insurance settlements the diocese has reached in re... (more story)
Fenwick & West LLP has asked a Florida federal judge to shut down a bid by victims of the infamous FTX Trading Ltd. cryptocurrency scam to bring new claims against the firm, calling allegations that it knew ab... (more story)
A Texas bankruptcy lawyer hit back at efforts to oust her as the wind-down trustee for GWG Holdings, saying her involvement in a judicial ethics and romance scandal is unrelated to her work for the former life... (more story)
A group of Puerto Rican electric utility bondholders have told a New York federal judge they will pull out of a three-year-old deal to support the utility's proposed restructuring plan if it is not confirmed by October.
The Office of the U.S. Trustee has asked a Delaware bankruptcy court to reopen the 2007 bankruptcy case of HomeBanc Mortgage Corp. after $232,390 in funds from bank accounts that were not turned over at the Ch... (more story)
Mid Cap More
The chairman, secretary and chief financial officer of bankrupt construction management firm Gateway Development Group Inc. on Thursday asked a Connecticut judge to reconsider a $51.2 million asset freeze dema... (more story)
Founders of cryptocurrency mining firm Rhodium are defending their request for leave to pursue payouts from the company's directors and officers insurance policy, saying an ad hoc group's protests fell flat si... (more story)
A Texas bankruptcy judge gave final approval to $46 million in new money Chapter 11 financing for Maverick Gaming LLC, a company that runs casinos and other gambling venues in three states, and scheduled a Sep... (more story)
A father and son are both seeking two-year sentences from a New York federal court after pleading guilty to fraud related to the development of a Phoenix-area youth sports park with $280 million in investments... (more story)
Faegre Drinker Biddle & Reath LLP told a New Jersey state court this week that a malpractice suit it faces from a real estate investor is nothing more than an attempt by the investor to shift responsibility fo... (more story)
Clinic operator Pioneer Health Systems LLC, which had its Chapter 11 plan confirmed late last year, objected to a $500,000 fee application from a firm that had acted as its investment banker, saying the payout... (more story)
The U.S. Securities and Exchange Commission objected to the Chapter 11 plan of electric-truck maker Nikola Corp. on Tuesday, saying the plan improperly treats the agency's $80 million civil penalty claim as if... (more story)
Bankrupt medical technology company UpHealth told a Delaware bankruptcy court that it has reached a settlement resolving Indian company Glocal Healthcare's $200 million adversary proceeding in a bitter feud ov... (more story)
Movie producer Village Roadshow Entertainment Group, which helped create titles like "The Matrix" and "Ocean's Eleven," received a Delaware bankruptcy judge's approval Tuesday to sell its independent studio to... (more story)
An auto parts supplier asked a Michigan state court to hold collateralized debt promoter Lynn Tilton and several other defendants liable to the tune of nearly $40 million, alleging they had been involved in an... (more story)