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Meet The Attorneys Formulating Optio Rx's Ch. 11
How Powerful Companies Profit From 'Unjust Debts' - Part 2
How The Bankruptcy System Became 'Unjust' - Part 1
Meet The Attorneys Formulating Optio Rx's Ch. 11
Specialty pharmacy chain Optio Rx has hired a legal team from boutique corporate and bankruptcy law firm Chipman Brown Cicero & Cole LLP, as it plans to swap debt for equity and cut down on some $235 million of debt through a Chapter 11 in Delaware.
How Powerful Companies Profit From 'Unjust Debts' - Part 2
Companies that use Chapter 11 bankruptcy to deal with litigation over dangerous products they produced or other misconduct rely on a broad conception of what counts as a debt to prove their eligibility for bankruptcy relief — a privilege that regular people aren't afforded, according to a new book by a University of North Carolina School of Law professor.
How The Bankruptcy System Became 'Unjust' - Part 1
Changes in bankruptcy law that have made it more difficult for individuals facing financial hardship to extinguish their debts and get a fresh start have also allowed businesses to use Chapter 11 as a "legal Swiss Army knife" to deal with issues that the system was never meant to handle, according to a book out Tuesday by a University of North Carolina School of Law professor.
Expert Analysis
The Southern District of New York’s recently adopted guidelines on combining the processes for Chapter 11 plan con... (more story)
Johnson & Johnson’s recent announcement of a prepackaged reorganization plan for its talc unit highlights that Cha... (more story)
The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early ... (more story)
Large Cap More
A New York federal judge on Tuesday threw out Bed Bath & Beyond investors' suit accusing activist investor Ryan Cohen of buying and selling his stock too quickly, finding the claims moot in light of the retail... (more story)
Willkie Farr & Gallagher LLP has snagged three bankruptcy partners and eight more attorneys from Latham & Watkins LLP in Germany as it expands its bench in the country, the firm announced Tuesday.
The parent company of failed Silicon Valley Bank has told a New York bankruptcy judge it wants him to decide if it owes the Internal Revenue Service more than $605 million in taxes.
Vyaire Medical Inc., a producer and distributor of medical ventilators, received a Delaware bankruptcy judge's approval Tuesday to borrow $25 million in debtor-in-possession financing as it pursues a Chapter 1... (more story)
WeWork, fresh from the confirmation of its Chapter 11 restructuring plan, said Tuesday it will be led by John Santora, who will take over as CEO as the company leaves bankruptcy behind.
A Delaware bankruptcy judge on Tuesday suspended an arrest warrant for hedge fund Camshaft Capital's manager and ordered him to return to the U.S. within 10 days and answer questions from the bankrupt U.S. sub... (more story)
A New Jersey bankruptcy judge said Tuesday he would allow Invitae to send its Chapter 11 plan out for votes, after the genetic testing company agreed to note in its disclosure statement that the committee of u... (more story)
A New Jersey bankruptcy judge said Monday she would approve an Amazon reseller's Chapter 11 plan, following an agreement reached to create a trust that would pursue claims against former company executives and... (more story)
A New York bankruptcy judge refused to let Morgan Stanley and two individuals assert late claims for indemnification against the former parent of Silicon Valley Bank in its Chapter 11 case, concluding that the... (more story)
Creditors of Rudy Giuliani are probing whether the former New York City mayor has been getting financial support from a nonprofit called Tunnel to Towers Foundation, which says its mission is to assist familie... (more story)
Mid Cap More
Bus company Coach USA Inc. announced Tuesday that it filed for Chapter 11 protection in Delaware bankruptcy court, saying it has struck asset purchase agreements to preserve jobs and continue offering its grou... (more story)
Illinois-based specialty pharmacy chain Optio received interim approval at a first-day hearing Tuesday in Delaware bankruptcy court to access a $10 million in new money debtor-in-possession financing to fund its Chapter 11.
Drugmaker Acorda Therapeutics Inc. faced objections to its disclosure statement from its creditors committee and the U.S. Trustee's Office, which said it failed to provide enough information about releases in the plan.
The founder of hiring startup Joonko Diversity Inc. has been charged with fraud, with prosecutors saying Tuesday that she deceived investors into dumping $27 million into a platform that supposedly used artifi... (more story)
A court in India said it has received a criminal charge sheet issued by an investigative governmental agency in Calcutta against bankrupt American healthcare company UpHealth, targeting it and executives over ... (more story)
The Ninth Circuit's recent decision finding Cigna is off the hook for $8.6 million in out-of-network mental health and substance use disorder treatment claims against employee benefit plans administered by the... (more story)
Rubio's Coastal Grill received a Delaware bankruptcy judge's initial approval on Monday to borrow $4.5 million in Chapter 11 financing, starting the California-based fish taco chain on a road it hopes will lea... (more story)
An embattled Texas law firm has won another shot to secure fees for its work on hurricane-related cases in Louisiana, the Fifth Circuit ruled, one day after the FBI revealed it was investigating the firm over ... (more story)
The New York arm of Italian high-end footwear and fashion designer Giuseppe Zanotti's business applied for Subchapter V bankruptcy, seeking to get out of what it described as a burdensome lease and address $4.... (more story)
Arnold & Porter Kaye Scholer LLP announced on Monday the hiring of a former Paul Hastings LLP of counsel as a partner in its bankruptcy and restructuring practice out of Chicago.