To access this content, a subscription to Bankruptcy Authority is required.

Large Cap More

Ex-Beneficient CEO Convicted In $150M Shell Co. Fraud

The former CEO of Texas financial services firm Beneficient was convicted by a Manhattan federal jury on Thursday of securities fraud and other charges connected with a scheme to fraudulently loot more than $1... (more story)

Conn. Diocese Settles Abuse Defense Suit Against Travelers

The bankrupt Norwich Roman Catholic Diocesan Corp. has reached a settlement with its insurer in a Connecticut state court lawsuit alleging the insurer improperly bailed on defense coverage for a sexual abuse c... (more story)

Nielsen Tells 2nd Circ. To Upend Cumulus' Data-Tying Order

An attorney for Nielsen urged a Second Circuit panel Thursday to undo an order, which is currently stayed, effectively blocking it from conditioning media company Cumulus' access to national radio ratings data... (more story)

Spandex Maker Gets OK For Ch. 11 Plan Cutting $1.2B In Debt

Textile developer Lycra received confirmed Thursday from a Texas bankruptcy judge for its restructuring plan, which calls for erasing $1.2 billion of debt from its balance sheet, capping a quick trip through Chapter 11.

DEMAR Seeks Ch. 15 Protection Amid Pemex Financial Woes

Mexico-based marine oil rig service company DEMAR Instaladora y Constructora SA de CV has asked a Texas bankruptcy court to recognize its Mexican bankruptcy proceeding, saying that it spiraled financially afte... (more story)

Ex-Jackson Walker Atty Seeks Breakup With Romance Suit

A former Jackson Walker LLP partner said Thursday that she should be dropped from a suit accusing her, a former Texas bankruptcy judge she had a secret relationship with and multiple law firms of fomenting "ma... (more story)

Celsius Exec's Help Was Key, Feds Say Before Sentencing

Manhattan federal prosecutors said sentencing for the former chief revenue officer of the defunct cryptocurrency firm Celsius Network should reflect that the executive provided "substantial assistance" to the ... (more story)

First Brands Lender Slams Creditors' 'Baseless' Investigation

First Brands Group lender Aequum Capital has urged a Texas bankruptcy judge to reject unsecured creditors' bid to extend a deadline for their investigation into liens that Aequum asserted, saying the creditors... (more story)

Amber Denies Violating Confidentiality Order In Citgo Feud

An affiliate of hedge fund Elliott Investment Management LP — whose $5.9 billion bid for Citgo's parent company was accepted late last year — is denying the oil giant's allegations that it improperly exposed c... (more story)

Spandex Maker Touts Ch. 11 Plan In Confirmation Brief

Textile developer The Lycra Co. LLC urged a Texas bankruptcy judge to confirm its Chapter 11 plan, saying it recently reached a deal with a subset of creditors to support the plan cutting $1.2 billion from its balance sheet.

Mid Cap More

Vanderbilt Minerals Gets OK For $64M Sale, New DIP Package

A New York bankruptcy judge Thursday told former talc miner Vanderbilt Minerals it can accept a $64 million bid for its mines and said she will give interim approval for $15 million in new Chapter 11 financing from the buyer.

US Magnesium Creditors Can Take Votes On Ch. 11 Plan

A Delaware bankruptcy judge on Thursday signed off on a request by US Magnesium's unsecured creditors to solicit votes on a Chapter 11 liquidation plan, months after the defunct mineral supplier sold most of i... (more story)

Prospect Medical Captive Insurer Gets Interim Ch. 15 Relief

Connecticut Healthcare Insurance Co., a Cayman Islands insurance company indirectly owned by bankrupt hospital chain Prospect Medical Holdings, received provisional relief Thursday for its Cayman wind-up proce... (more story)

US Trustee Objects To Airline's 'Unfair' Plan Process

The Office of the U.S. Trustee opposed the Chapter 11 disclosure statement of a bankrupt Alaska-based airline, saying it lays out a "fundamentally unfair" process for creditors to object if the debtor tries to... (more story)

Prospect Medical Captive Insurer Files Ch. 15 In Texas

Connecticut Healthcare Insurance Company, a Cayman Islands insurance company indirectly owned by Prospect Medical Holdings, has filed a Chapter 15 petition in Texas bankruptcy court seeking recognition of its ... (more story)

Police Union Group Gets Ch. 11 OK To Pursue Fla. Appeal

The International Union of Police Associations AFL-CIO received approval Wednesday in Florida bankruptcy court to modify the automatic stay in its Chapter 11 case to pursue its appeal of an adverse state court... (more story)

Battery Recycler Ascend Asks For $30M In Ch. 11 Financing

Bankrupt battery recycler Ascend Elements Inc. asked a Texas court for approval of a $30 million new money debtor-in-possession loan, with approximately $18 million earmarked for what it says is a crucial land... (more story)

Scarinci Hollenbeck Adds 4 Lawyers In NJ, NY Growth Push

Scarinci Hollenbeck LLC has announced a slate of attorney hires, with two partners, a counsel and a senior associate adding to its bench in bankruptcy, corporate transactions, litigation and other practice areas.

Womble Bond Adds Akin Gump Finance Pro In Houston

Womble Bond Dickinson has strengthened its debt financing capabilities in the energy sector with the hiring of a Houston-based partner who came aboard from Akin Gump Strauss Hauer & Feld LLP.

Canadian Furniture Co. Gets Provisional US Asset Shield

A Delaware bankruptcy judge on Wednesday extended provisional protection to the U.S. assets of Quebec office furniture maker Bestar as it seeks U.S. recognition of its Canadian liquidation proceedings.

Expert Analysis

2 AI Snafus Show Why Attys Can't Outsource Judgment

The recent incident involving Sullivan & Cromwell where citations in a filed motion were fabricated by artificial ... (more story)

Judge-Led Bankruptcy Mediation Can Be The Best Option

Despite industry scrutiny of U.S. Bankruptcy Judge Michael Kaplan's recent decision to mediate the Multi-Color Cha... (more story)

Law School's Missed Lessons: How To Draft Pleadings

Most law school graduates step into their first jobs without ever having drafted a complaint, answer, motion or ot... (more story)