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Under The Radar: Bankruptcy News You May Have Missed
A Pennsylvania coal company and creditors for an orthopedic implant maker are looking to end their respective Chapter 11 cases, the trustee for Bernie Madoff's investment firm has struck a deal with a feeder fund, and a movie production company wants permission to pay "key" employees to stay on board until the end of its own Chapter 11.
5th Circ. Sanchez Ruling Nixes Double-Dip Ch. 11 Decision
A recent Fifth Circuit decision that stripped unsecured creditors of majority control over oil driller Sanchez Energy criticized a Texas court for letting the lower-ranked investors "have their cake and eat it too," finding that a bankruptcy judge erred in allowing unsecured creditors to recover the value of property that already had been returned.
Policy Uncertainty Over Tax Credits Led Mosaic To Ch. 11
A shrinking solar energy market and unclear prospects surrounding federal tax credits for solar panels prompted solar panel financing firm Mosaic to file a Chapter 11 petition just a few days before a major residential solar panel designer, Sunnova Energy, launched its own bankruptcy case.
Under The Radar: Bankruptcy News You May Have Missed
A Pennsylvania coal company and creditors for an orthopedic implant maker are looking to end their respective Chapter 11 cases, the trustee for Bernie Madoff's investment firm has struck a deal with a feeder fund, and a movie production company wants permission to pay "key" employees to stay on board until the end of its own Chapter 11.
5th Circ. Sanchez Ruling Nixes Double-Dip Ch. 11 Decision
A recent Fifth Circuit decision that stripped unsecured creditors of majority control over oil driller Sanchez Energy criticized a Texas court for letting the lower-ranked investors "have their cake and eat it too," finding that a bankruptcy judge erred in allowing unsecured creditors to recover the value of property that already had been returned.
Policy Uncertainty Over Tax Credits Led Mosaic To Ch. 11
A shrinking solar energy market and unclear prospects surrounding federal tax credits for solar panels prompted solar panel financing firm Mosaic to file a Chapter 11 petition just a few days before a major residential solar panel designer, Sunnova Energy, launched its own bankruptcy case.
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Large Cap More
Everstream, a provider of fiber networks to businesses, has retained a team of lawyers from Weil Gotshal & Manges LLP to aid its journey through a bankruptcy it started with plans to conduct a Chapter 11 sale to a competitor.
Residential solar panel group Sunnova Energy received a Texas bankruptcy judge's interim approval Thursday for a debtor-in-possession loan and an asset sale, freeing up another $31 million to fund its Chapter 11 case.
A Delaware bankruptcy judge Thursday agreed to give interim permission for automotive parts manufacturer Marelli Corp. to draw on $519 million of its $2 billion debtor-in-possession financing, giving it runway... (more story)
Still seeking to represent prebankruptcy owners of international shipping company Eletson Holdings Inc., Reed Smith LLP has asked the Second Circuit to stay a bankruptcy proceeding and a district court action,... (more story)
Kirkland & Ellis LLP said Wednesday it has welcomed a corporate partner from Ropes & Gray LLP to its New York office, touting her experience with major deals in sectors such as financial services, software, he... (more story)
McKinsey & Co. has asked a New York bankruptcy judge to reject the disclosure statement for Purdue Pharma's Chapter 11 plan, saying there is ambiguity on how the plan will deal with the consulting firm's possi... (more story)
Delaware boutique firm Landis Rath & Cobb LLP has brought on a former Pachulski Stang Ziehl & Jones LLP attorney to enhance its ability to advise clients on Chapter 11 and other bankruptcy proceedings and related litigation.
Sunnova, a major residential solar panel designer, secured a Texas bankruptcy judge's permission Wednesday to sell some of its assets for $15 million to raise liquidity while it moves through Chapter 11.
Senators from both sides of the aisle expressed interest in passing national consumer data privacy legislation during a Wednesday committee hearing inspired by 23andMe Inc.'s Chapter 11 bankruptcy.
At D.C. federal judge on Wednesday denied Russia's bid to nix litigation filed by the financing arm of Yukos Oil Co. to enforce a nearly $5 billion arbitral award, saying the Kremlin's jurisdictional objections fell short.
Mid Cap More
Bankrupt mining operation Heritage Coal completed a Chapter 11 auction for its assets late Thursday, with a $21.6 million joint bid emerging as the highest and best offer, according to court filings.
A former Chili's employee's wage and hour lawsuit against the chain's parent company should stay in play, the worker told a California federal court, saying his failure to list the case in his individual bankr... (more story)
A Florida doctor and emergency room companies serving departments in Texas, Florida and Oklahoma have sued multiple entities in Delaware's Court of Chancery allegedly involved in an elaborate private equity-ti... (more story)
The privacy expert probing 23andMe's proposed sale of customers' genetic data in bankruptcy told a Missouri federal judge Wednesday that he couldn't determine the deal wouldn't violate state privacy laws and r... (more story)
An unsecured-creditor committee has asked a Connecticut federal bankruptcy judge to sanction a successor to an entity that lent $57 million to the bankrupt real estate and building companies behind a luxury Ne... (more story)
The Third Circuit said Thursday that it will reconsider whether to reopen Congoleum Corp.'s 2003 Chapter 11 bankruptcy so the bankruptcy court, not a district court, can say whether Congoleum affiliate Bath Ir... (more story)
Contour Spa LLC, a Florida-based chain of fat-burning med spas, filed for Chapter 11 protection after a rapid expansion and a sprawling and decentralized operational system led to financial challenges that ate into revenues.
A committee of retired city employees sued the Chapter 9 receiver overseeing the city of Chester, Pennsylvania's municipal bankruptcy, arguing that by requiring water system assets be sold to a publicly owned ... (more story)
A Pennsylvania appellate panel affirmed a decision backing the borough of West Mifflin's condemnation of a local mall, rejecting the property owner's argument that its due process rights were violated.
Gastropub chain Bar Louie has told the Delaware bankruptcy court it has reached an agreement with unsecured creditors that could resolve an investor group's challenge to the debtor's Chapter 11 disclosure stat... (more story)