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Government IT Provider Blamed Its Ch.11 On DOGE Cuts
Funding shortfalls, a six-figure judgment from a vendor and uncertainty over potential budget cuts from the White House's Department of Government Efficiency led government IT contractor Sysorex Government Services Inc. to file for Chapter 11 bankruptcy protection, according to the debtor.
Catching Up With New Bankruptcy Case Action
A group of entities related to New York landlord Pinnacle Group filed for Chapter 11 protections, a clutch of companies owned by a real estate investor sentenced to jail for a scheme that defrauded Fannie Mae filed for bankruptcy protection in New Jersey, and a Canadian aluminum trader struggling to restructure filed bankruptcy in the U.S. and Canada.
23andMe Agrees To Sale, Rite Aid Pharmacy Deals Get OK
Regeneron Pharmaceuticals emerged as the winning bidder for 23andMe last week, agreeing to buy the genetics testing company out of bankruptcy for $256 million. Meanwhile, a judge approved Rite Aid's sale of pharmacy assets to CVS, Walgreens and others, and tensions flared during a hearing in Texas on disputes stemming from an undisclosed romance between a former Jackson Walker attorney and bankruptcy judge.
Government IT Provider Blamed Its Ch.11 On DOGE Cuts
Funding shortfalls, a six-figure judgment from a vendor and uncertainty over potential budget cuts from the White House's Department of Government Efficiency led government IT contractor Sysorex Government Services Inc. to file for Chapter 11 bankruptcy protection, according to the debtor.
Catching Up With New Bankruptcy Case Action
A group of entities related to New York landlord Pinnacle Group filed for Chapter 11 protections, a clutch of companies owned by a real estate investor sentenced to jail for a scheme that defrauded Fannie Mae filed for bankruptcy protection in New Jersey, and a Canadian aluminum trader struggling to restructure filed bankruptcy in the U.S. and Canada.
23andMe Agrees To Sale, Rite Aid Pharmacy Deals Get OK
Regeneron Pharmaceuticals emerged as the winning bidder for 23andMe last week, agreeing to buy the genetics testing company out of bankruptcy for $256 million. Meanwhile, a judge approved Rite Aid's sale of pharmacy assets to CVS, Walgreens and others, and tensions flared during a hearing in Texas on disputes stemming from an undisclosed romance between a former Jackson Walker attorney and bankruptcy judge.
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Large Cap More
Defunct hedge fund Highland Capital Management has asked the U.S. Supreme Court to keep its Chapter 11 plan in place while it appeals a reversal from the U.S. Court of Appeals for the Fifth Circuit, saying it ... (more story)
The Chapter 11 plan proposal of retail chain owner Franchise Group Inc. that will slash $1.5 billion of debt from the company's balance sheet received approval Wednesday from a Delaware bankruptcy judge, with ... (more story)
The Third Circuit on Wednesday granted a bid by Johnson & Johnson's talc liability unit to stay briefing in its appeal seeking to revive a libel case over a scientific article linking talcum power to mesothelioma.
Investors of drugmaker Mallinckrodt received preliminary approval of their $5.5 million settlement with two executives and a director of the company Wednesday, ending the investors' claims they were misled int... (more story)
A Texas appeals court seemed taken aback after counsel for conspiracist Alex Jones claimed a $45 million default judgment relating to Jones' defamatory Sandy Hook statements should be thrown out, suggesting du... (more story)
Everstream Networks, a provider of fiber networks to businesses, and several affiliates filed for Chapter 11 protection in Texas on Wednesday, citing at least $1 billion of estimated liabilities.
Azul SA, one of Brazil's largest airlines, filed for Chapter 11 protection in New York on Wednesday, saying it has a prearranged plan to cut $2 billion of debt from its balance sheet.
A Texas bankruptcy judge has refused to reopen the Chapter 11 case of SandRidge Energy to allow it to escape a $17 million subrogation suit filed by two former officers, saying SandRidge in its bankruptcy plan... (more story)
A lender of the bankrupt American arm of Indian education technology giant Byju's asked a Delaware bankruptcy judge Tuesday for permission to intervene in the debtor's latest suit tied to the recovery of $533 ... (more story)
A New Jersey company and tire maker Bridgestone Americas Inc. on Tuesday jointly asked a Texas federal judge to dismiss a case in which Bridgestone was accused of using patented mobile device communication tec... (more story)
Mid Cap More
A Maine federal judge on Wednesday denied Johns Hopkins Medical Services Corp.'s to dismiss a False Claims Act suit as untimely, ruling it must face allegations it failed to report being overpaid for healthcar... (more story)
The joint venture partner of a bankrupt California hotel owner-operator lodged an adversary complaint against the company in its Chapter 11 bankruptcy case in Delaware, urging the court to transfer several of ... (more story)
Joint implant maker Exactech Wednesday adjourned what could have been a long and contested Chapter 11 plan confirmation hearing in Delaware, saying it began talks to settle a blitz of objections in the case.
Government information technology contractor Sysorex Government Services on Wednesday argued to a New York bankruptcy judge that the retainer on deposit for its bankruptcy counsel is sufficient to establish th... (more story)
A Texas bankruptcy judge on Wednesday said he would allow landscape plant grower TreeSap Farms to solicit creditor votes on its Chapter 11 liquidation plan, days after the company closed on a sale of its asset... (more story)
A Canadian aluminum trading group has asked an Illinois bankruptcy court to recognize its Canadian insolvency proceedings, saying rising tariffs have left it with no choice but to seek to sell its assets in bankruptcy.
Bankrupt genetic testing provider 23andMe Inc. said Tuesday it will delist its stock from the Nasdaq exchange, following Regeneron Pharmaceuticals Inc.'s agreement last week to buy the defunct company.
Technology contractor Sysorex Government Services Inc. asked a New York bankruptcy judge to approve a $2.3 million debtor-in-possession loan from its accounts receivable lender, saying a contract with the U.S.... (more story)
The creditors committee in Nikola Corp.'s Chapter 11 case has asked a Delaware bankruptcy court for permission to conduct discovery on the company's founder to investigate whether he is dissipating personal as... (more story)
Gibson Dunn & Crutcher LLP is expanding its West Coast team, announcing Tuesday it is welcoming back a debt financing expert, who left for a few years to join Goodwin Procter LLP, as a partner in its Los Angeles office.