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Small Biz Bankruptcies Likely To Spike Before Debt Limit Ends
Rite Aid, SVB Affiliates Among Top 2024 Ch. 11 Sales So Far
Justices Side With US Trustee, Alex Jones Switches To Ch. 7
Small Biz Bankruptcies Likely To Spike Before Debt Limit Ends
U.S. bankruptcy courts are likely to see a spike in small business filings under Subchapter V of Chapter 11 this week, in the days before the current $7.5 million debt limit to qualify falls back to about $3 million on Friday without action from Congress, according to experts.
Rite Aid, SVB Affiliates Among Top 2024 Ch. 11 Sales So Far
Branches of Rite Aid and Silicon Valley Bank, technology and biotech firms and a discount store chain were among the companies that attracted top dollar in the Chapter 11 auctions held during the first half of 2024.
Justices Side With US Trustee, Alex Jones Switches To Ch. 7
The U.S. Supreme Court ruled there would be no retroactive redress for a disparity between U.S. trustee fees in different jurisdictions, seafood restaurant chain Red Lobster struck a deal with creditors to hammer out a reorganization plan, and a Texas judge pulled the trigger on converting Alex Jones' Chapter 11 case to a Chapter 7.
Expert Analysis
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The parents of children murdered in the Sandy Hook Elementary School shooting told a Houston federal judge on Tuesday the fact they were citing the same precedents as conspiracy theorist Alex Jones is evidence... (more story)
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The Roman Catholic Diocese of San Diego has reentered Chapter 11 in a California bankruptcy court, saying it is facing more than $100 million in liabilities from more than 450 new sexual abuse claims filed in recent years.
Electric vehicle company Fisker Group Inc. has petitioned for Chapter 11 protection in Delaware bankruptcy court with more than $100 million of debt, months after the collapse of a potential partnership with a... (more story)
Rudy Giuliani's creditors made their argument to a New York judge on Monday about why they felt he should be stripped of control of his bankruptcy case, disparaging his motives, missing financial information a... (more story)
The U.S. Department of Housing and Urban Development and Ginnie Mae pushed for the transfer of Texas Capital Bank's suit in Texas federal court over a vacated loan lien, arguing that the bank is contractually ... (more story)
FTX told the New York federal court that hit the company's founder Sam Bankman-Fried with a 25-year prison sentence and an $11 billion forfeiture order that the now-defunct cryptocurrency exchange has a right ... (more story)
The Archdiocese of New York sought dismissal of Chubb's bid to evade coverage of over 1,700 underlying sexual abuse claims brought under the Child Victims Act, filing counterclaims with a state court alleging ... (more story)
Two investment affiliates of Discovery Capital Management LP have sued Hertz Global Holdings Inc. in Delaware's Court of Chancery, alleging willful failure to redeem warrants issued in 2021 as part of the comp... (more story)
Proposed amendments to Delaware's General Corporation Law that were prompted by several recent Chancery Court rulings sailed through the state Senate last week despite loud opposition from corporate law profes... (more story)
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The insolvent developer of an almost-finished apartment building in Houston hit a hiccup Tuesday during its first-day hearing in a Texas bankruptcy court, where a judge indicated the company did not present en... (more story)
A New York bankruptcy judge said Tuesday he will approve disclosure statements detailing three competing Chapter 11 plans proposed in the bankruptcy of shipping company Eletson Holdings Inc. after some revisio... (more story)
NanoString Technologies Inc., a Seattle-based maker of gene analysis technology, can use proceeds from the $393 million sale of its business to repay nearly all creditors in full after a Delaware bankruptcy ju... (more story)
Light-sport aircraft producer Icon received a Delaware bankruptcy court's approval Tuesday for a nearly $15.8 million sale of its assets after securing an agreement to increase the price by $250,000, just hour... (more story)
A Delaware bankruptcy judge on Tuesday confirmed the Chapter 11 plan for Unconditional Love Inc., the baby-product company founded by actress Kristen Bell that does business as Hello Bello, as it prepares to w... (more story)
California-based dermatologic test maker DermTech Inc. hit Chapter 11 Tuesday in Delaware and said it would be laying off about 20% of its workforce as it seeks to sell its assets.
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Securities regulators sued a venture capitalist and his investment firm in Texas federal court Monday, accusing the firm of making a bogus offer to invest $200 million into Virgin Orbit last year despite havin... (more story)
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