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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
Claims asserted by Alexander Mashinsky, the founder of bankrupt cryptocurrency lender Celsius Networks, and his affiliated entities in the company's Chapter 11 case are being withdrawn and disallowed now that ... (more story)
Vodka company Stoli Group and pharmaceutical giant Purdue are both headed to court to make the case for their bankruptcy plan disclosure statements, New Hampshire power plant operator Burgess BioPower will try... (more story)
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The Third Circuit declined to hold a panel or full court rehearing of its May decision to uphold the Boy Scouts of America's Chapter 11 bankruptcy plan in a pair of Friday orders rejecting petitions by two set... (more story)
Failed life insurance-backed bond seller GWG Holdings Inc. won a Texas bankruptcy judge's approval Friday of four settlements totaling $91.3 million with parties including Mayer Brown LLP and the company's for... (more story)
A former bankruptcy judge and Jackson Walker LLP have been hit with another lawsuit over the judge's secret romance with a former firm partner, this time a proposed class action from a group of bondholders of ... (more story)
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)
Mid Cap More
Counsel for a Manhattan private school told a New York bankruptcy it is planning to convert its case into a Chapter 7 liquidation after it was unable to reach a deal with its secured lender on Chapter 11 financing.
Engineering firm ENGlobal Corp. on Friday confirmed a Chapter 11 plan to wind down following the sale of its business just over three months after it filed for bankruptcy in Texas.
A Delaware bankruptcy judge on Friday approved digital content delivery company Edgio Inc.'s Chapter 11 reorganization plan following a consensual agreement between the debtor, the unsecured creditors' committ... (more story)
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.