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3rd Circ. Backs Talc Co.'s Ch. 11, Hooters Must Split Royalties
The Third Circuit determined that the board of directors for former talc supplier Whittaker Clark & Daniels had the power to put it into bankruptcy, despite the appointment of a receiver for its assets. The Catholic diocese for Oakland, California, has asked to end its Chapter 11, saying it has little hope for reaching a settlement with creditors. And debtors across the country secured confirmation of Chapter 11 plans.
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Meet The Attys In Eatery, Bowling Chain Pinstripes' Ch. 11
Pinstripes Holdings Inc., a restaurant chain offering bocce ball and bowling alongside fettuccine bolognese, has hired attorneys from Young Conaway Stargatt & Taylor LLP to guide the bankruptcy it entered with more than $143 million in debt and plans to seek a going concern sale.
What's Happening In Bankruptcy Court This Coming Week
Purdue will ask a bankruptcy court to approve a retention incentive package for its CEO. Tilson Technology is scheduled for a hearing on its request for permission to complete a proposed asset sale. And the judge overseeing Steward Health Care's bankruptcy will consider whether to compel two hospital buyers to make payments and defend against accusations of contempt.
3rd Circ. Backs Talc Co.'s Ch. 11, Hooters Must Split Royalties
The Third Circuit determined that the board of directors for former talc supplier Whittaker Clark & Daniels had the power to put it into bankruptcy, despite the appointment of a receiver for its assets. The Catholic diocese for Oakland, California, has asked to end its Chapter 11, saying it has little hope for reaching a settlement with creditors. And debtors across the country secured confirmation of Chapter 11 plans.
Meet The Attys In Eatery, Bowling Chain Pinstripes' Ch. 11
Pinstripes Holdings Inc., a restaurant chain offering bocce ball and bowling alongside fettuccine bolognese, has hired attorneys from Young Conaway Stargatt & Taylor LLP to guide the bankruptcy it entered with more than $143 million in debt and plans to seek a going concern sale.
What's Happening In Bankruptcy Court This Coming Week
Purdue will ask a bankruptcy court to approve a retention incentive package for its CEO. Tilson Technology is scheduled for a hearing on its request for permission to complete a proposed asset sale. And the judge overseeing Steward Health Care's bankruptcy will consider whether to compel two hospital buyers to make payments and defend against accusations of contempt.
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Large Cap More
Yellow Corp.'s largest public shareholder objected to a roughly $76 million claim from the New York State Teamsters Conference Pension and Retirement Fund, arguing that the pension didn't follow the steps that... (more story)
The estate of Paul Allen has reached an agreement to sell the NBA Portland Trail Blazers to a group led by Tom Dundon, the chair of Dundon Capital Partners, who has had notable success in sports ownership in t... (more story)
A Texas federal court has ruled that aircraft-parts supplier Incora's controversial "uptier" debt exchange was "proper and appropriate," reversing a bankruptcy judge more than a year after he threw out the dea... (more story)
A hedge fund manager and his firm will pay more than $9 million to end a long-running lawsuit alleging that they shortchanged investors when they took Sears Hometown and Outlet Stores Inc. private in 2019, acc... (more story)
Jackson Walker LLP says bondholders' proposed class action accusing the firm of covering up a romance between a one-time partner and bankruptcy judge is an attempt at invalidating an already confirmed Chapter ... (more story)
Raines Feldman Littrell LLP announced Friday that it has added seven new attorneys to its ranks, adding bicoastal legal talent across four different practice areas.
A Texas bankruptcy judge agreed Monday to hear arguments over a request for sanctions against a buyer of Steward Health Care's hospitals, after a pair of vendors for the insolvent hospital operator alleged the... (more story)
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The wife of Chinese exile and convicted security fraud defendant Miles Guo lost her bid to shield a $6.9 million Greenwich mansion from her husband's creditors when a Connecticut federal judge ruled Friday tha... (more story)
An alternative investment firm pressed the U.S. Supreme Court to not review a Fifth Circuit decision narrowing releases and so-called "gatekeeper" provisions in bankrupt Texas investment group Highland Capital... (more story)
Mid Cap More
More than 30,000 individuals who elected to pursue arbitration rather than sign on to a proposed class settlement over a data breach at 23andMe are urging a Missouri bankruptcy judge to reject the DNA testing ... (more story)
A Texas bankruptcy judge Monday allowed a company that sells and rents out construction and mining equipment to tap into cash collateral for two weeks to stay running, overriding a senior lender's objection an... (more story)
A Delaware bankruptcy judge on Monday approved bidding procedures for the assets of online furniture retailer Walker Edison but declined to appoint a consumer privacy ombudsman to review the sale.
A group of debtors has claimed that CVS Caremark Corp. and its entities are withholding more than $7 million in rent because a "serial litigant" wrongfully alleged that he owns both the properties that CVS ren... (more story)
Merit Street Media's official committee of unsecured creditors has thrown its support behind a proposed $17 million Chapter 11 settlement funded by Dr. Phil McGraw's production company Peteski Productions, say... (more story)
A Texas bankruptcy judge Monday granted final approval of a $6.5 million debtor-in-possession lending facility for a company that provides medication to patients in long-term care facilities across seven U.S. ... (more story)
Bankrupt fiber network developer Tilson Technology Management Inc. received court approval Monday for a $22.07 million sale of its assets to ITG Communications LLC after a robust marketing process resulted in ... (more story)
A Delaware bankruptcy judge on Monday approved Exactech's Chapter 11 sale and liquidation plan that drops a previous deal with the joint implant maker's equity sponsor in favor of funding the pursuit of potent... (more story)
The federal government's claim that a beneficiary of offshore trusts is likely to spend down assets to avoid a $28 million tax bill lacks evidence, the beneficiary argued in urging a Florida federal court not ... (more story)
The former CEO of Boston Sports Clubs is liable for $6 million in damages and interest, because he approved a plan to charge gym members while the clubs were shuttered at the start of the coronavirus pandemic,... (more story)