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Florida's Brightline Rail System Hits Ch. 11 With $5.5B Debt

Parent entities of Brightline Florida, the country's only privately-owned and financed rail system, filed for Chapter 11 protection in New Jersey after facing liquidity shortfalls and challenges that left the ... (more story)

Ex-Tricolor CEO Says Feds Botched Warrants In Fraud Case

The former CEO of Tricolor Holdings on Thursday urged a Manhattan federal judge to bar any evidence seized from searches of his communications from being used to support accusations that he deceived lenders an... (more story)

Summer Camp Co. Says $19M Lien Targets Wrong Ch. 11 Case

Summer camp company SIMAD Holdings asked a New Jersey bankruptcy judge Thursday to nix a roughly $18.7 million claim lodged by a New York-based credit union, saying the relevant lien has to do with property in... (more story)

Sears Ex-CEO Strikes $4.75M Deal To End Bankruptcy Suits

The former CEO of Sears Holdings Corp., Edward S. "Eddie" Lampert, has reached a settlement with the Chapter 7 trustee liquidating Sears Hometown Stores Inc., a remnant of the former retail giant, that puts to... (more story)

Lugano Diamonds Gets Official OK For Ch. 11 Liquidation Plan

A Delaware bankruptcy judge Thursday confirmed Lugano Diamonds' Chapter 11 liquidation plan, after the jewelry house finalized a deal with its former CEO.

1st Circ. Rejects Puerto Rico Bondholders' $8.5B Claim

The First Circuit has upheld a ruling barring Puerto Rico electric utility bondholders from asserting an $8.5 billion claim against the island's government under its own restructuring plan.

Conn. Panel Seeks Info On Intervenor Standing In Setoff Case

A Connecticut appellate court has asked for more information about whether intervenors challenging caps that could cut millions of dollars of benefits in a state-managed rehabilitation of PHL Variable Insuranc... (more story)

2nd Circ. Hints $7.25M Mansion Sale Stands In Guo's Ch. 11

Second Circuit judges poked holes Wednesday in the claim that the wife of a bankrupt Chinese billionaire was in charge of a company that owned a contested $7.25 million Connecticut mansion, eliciting a concess... (more story)

Buffalo Diocese Seeks Approval On $177M Deal With Insurers

The Roman Catholic Diocese of Buffalo has told a New York bankruptcy judge that it has reached a nearly $177 million settlement with its insurance carriers, raising the funds available for the sexual abuse set... (more story)

Spirit Airlines Gets OK To Sell 27 Planes For $668M In Ch. 11

Spirit Airlines on Wednesday secured a New York bankruptcy judge's approval to sell 27 airplanes to two buyers for a combined $668 million.

Mid Cap More

Canadian GovTech's Ch. 15 Asset Sale OK'd With Releases

A Delaware bankruptcy court Thursday agreed to enforce a Canadian court's reverse-vesting order in the Chapter 15 case of government technology company Thentia, finding the rule of comity weighs in favor of re... (more story)

Fashion Biz Creditor Challenges $3.5M Directors Claims Deal

A creditor suing CaaStle, a defunct apparel-industry software company, has objected to a settlement between the debtor's Chapter 7 trustee and its former directors and officers, arguing that resolving a $300 m... (more story)

Real Estate Tech Co. Can Access $3M Of Ch. 11 Financing

Bankrupt real estate technology company House Canary received interim approval Thursday in New Jersey court to access Chapter 11 financing being provided by an existing lender, freeing up $3 million in liquidi... (more story)

Real Estate Tech Co. Files Ch. 11 To Stave Off Foreclosure

HouseCanary has filed for Chapter 11 in New Jersey seeking to stop a planned foreclosure auction that the real estate analytics and artificial intelligence company said threatened to "destroy" it.

Crypto Miner Poolin Says $140M Bid Wins Ch. 11 Auction

Cryptocurrency miner Poolin Technology said Wednesday afternoon that it has named Hut8 Corp. as the winning bidder for its assets in Chapter 11, with a $140 million bid.

BigLaw Expands Hybrid Capital Ranks Amid Uncertain Times

BigLaw firms are jockeying to build out "hybrid capital" practices as their private equity and private credit clients flock to the newly in-demand investment strategy to navigate economic and geopolitical uncertainty.

Uniroyal Legacy Unit Gets OK To Solicit Votes On Ch. 11 Plan

A New Jersey bankruptcy judge Wednesday agreed to approve the disclosure statement of a legacy unit of defunct tire maker Uniroyal, allowing the debtor to send its Chapter 11 plan to creditors for a vote.

Gundlach Bundschu Winery Seeks Ch. 11 With $39M Debt

Gundlach Bundschu Winery, which claims to be California's oldest continuously family-owned winery, filed for Chapter 11 bankruptcy relief Wednesday, as it seeks to restructure its more than $39 million in liabilities.

Steel Distributor UPG Hits Ch. 11 In Illinois Seeking Sale

Steel distributor UPG Enterprises has filed for Chapter 11 protection in Illinois in hopes of drumming up more interest in its sale process, the debtor said Wednesday.

Crypto Miner Creditor Denied Judgment In Ch. 11 Fee Dispute

A creditor that had joined in an involuntary Chapter 11 petition against cryptocurrency miner Mawson lost its bid for a judgment on the pleadings Tuesday in the former debtor's bankruptcy court lawsuit seeking... (more story)

Expert Analysis

Playing Bid Whist Makes Me A Better Lawyer

As a child, I viewed bid whist as a family tradition and a source of friendly card game competition, but as a lawy... (more story)

Calif. Bill Goes Too Far In Trying To Regulate Attorney AI Use

California’s first-in-the-nation act regulating how attorneys and arbitrators use generative artificial intelligen... (more story)

How Cannabis Rescheduling Is Reshaping Bankruptcy

As broader cannabis rescheduling awaits a recommended decision, cannabis companies continue to test the boundaries... (more story)