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Catching Up With New Bankruptcy Case Action
Two Canadian companies, one a geothermal energy business and another that recycles batteries, sought Chapter 15 protection in the U.S. A biotechnology research company filed for Chapter 11 protection in Ohio after failing to generate enough revenue to maintain its capital-intensive operations. And a not-for-profit New York City private school launched a Chapter 11 case as it faces closure.
Healthcare Spending Slowdown Sparked Accelerate's Ch. 11
Biotechnology company Accelerate faced regulatory challenges and weakened demand from hospitals for its diagnostics products before it filed for bankruptcy protection this month, and is now planning to sell its assets and wind down the business.
Whiskey Distillery Hopes To Beat COVID Hangover In Ch. 11
The Portland, Oregon-based distiller of Westward Whiskey was driven to bankruptcy by flagging demand for booze following the COVID-19 pandemic, according to its bankruptcy filings, but the liquor producer says it is not last call for the business.
Catching Up With New Bankruptcy Case Action
Two Canadian companies, one a geothermal energy business and another that recycles batteries, sought Chapter 15 protection in the U.S. A biotechnology research company filed for Chapter 11 protection in Ohio after failing to generate enough revenue to maintain its capital-intensive operations. And a not-for-profit New York City private school launched a Chapter 11 case as it faces closure.
Healthcare Spending Slowdown Sparked Accelerate's Ch. 11
Biotechnology company Accelerate faced regulatory challenges and weakened demand from hospitals for its diagnostics products before it filed for bankruptcy protection this month, and is now planning to sell its assets and wind down the business.
Whiskey Distillery Hopes To Beat COVID Hangover In Ch. 11
The Portland, Oregon-based distiller of Westward Whiskey was driven to bankruptcy by flagging demand for booze following the COVID-19 pandemic, according to its bankruptcy filings, but the liquor producer says it is not last call for the business.
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Large Cap More
Brazilian airline Gol Linhas Aéreas Inteligentes SA on urged a New York bankruptcy judge to confirm its fifth modified and third amended Chapter 11 plan, through which it proposes to slash $2.5 billion in debt.
Genesis Global Capital, a crypto lender that filed for bankruptcy in 2023, is now suing its parent company in bankruptcy court, seeking to recover more than $1.2 billion that the lender says was transferred to... (more story)
Bankrupt retail franchise owner and operator Franchise Group Inc. told a Delaware judge on Tuesday that its proposed Chapter 11 plan would slash $1.5 billion from its balance sheet while positioning the busine... (more story)
Reorganized sports broadcaster Diamond Sports Group must pay its former parent company, Sinclair Inc., $9.8 million, a Texas bankruptcy judge ruled Tuesday, partially granting a challenged Chapter 11 administr... (more story)
Two years after his debt relief law firm collapsed amid allegations he stole approximately $250 million from clients and investors, disbarred California attorney Tony Diab recently began telling a court-appoin... (more story)
Connecticut and other states Monday objected to Carrier Global Corp.'s proposed $540 million deal releasing it from "forever chemicals" litigation liability through its ownership of bankrupt firefighting foam ... (more story)
Binance has asked a Delaware bankruptcy judge to dismiss FTX's lawsuit seeking to recover $1.76 billion that was transferred to Binance, accusing the estate of FTX of trying to "shift the blame" for that compa... (more story)
The Chapter 7 trustee for Irish real estate developer Sean Dunne has agreed to settle for $1.9 million prepetition bankruptcy claims by Jennifer Coyle, a woman who said she was Dunne's first wife, capping what... (more story)
A Delaware bankruptcy judge on Monday gave cosmetics seller Avon Products Inc. the go-ahead to solicit votes on a Chapter 11 liquidation plan, overruling an insurer's objection to the debtor's bid to allow tal... (more story)
Proskauer Rose LLP announced Monday that it has brought another Ropes & Gray LLP attorney specializing in distressed mergers and acquisitions to its New York office.
Mid Cap More
A Delaware bankruptcy judge on Tuesday sustained an objection to insider releases in the Chapter 11 liquidation plan of Azzur Group, finding the pharmaceutical services company had not justified the releases f... (more story)
A group of companies owned by a real estate investor jailed last month for his role in a scheme defrauding Fannie Mae has filed for bankruptcy protection in New Jersey on a portfolio carrying at least $100 mil... (more story)
The companies behind two Pittsburgh-area nursing homes convicted of falsifying staffing records were ordered Tuesday to pay a total of $15.35 million in restitution to the federal government, though the corpor... (more story)
The proposed sale procedures for Heritage Coal, a bankrupt mining operation, received approval Monday from a Delaware bankruptcy judge, who overruled objections from the company's previous owners to certain deadlines.
Sustainability-focused financial services firm Aspiration Partners told a Delaware bankruptcy judge on Monday that it resolved creditors' objections to its nearly $20 million in Chapter 11 financing by excludi... (more story)
Contracted biotechnology research company AmplifyBio filed for Chapter 11 protection late Friday in Ohio bankruptcy court listing about $60 million in debt, saying it intends to sell its assets after failing t... (more story)
Famed rapper Curtis '50 Cent' Jackson's liquor company asked a Connecticut bankruptcy court to let the business enforce its lien on its former brand manager Mitchell Green's $1 million home in Westport to help... (more story)
A Delaware bankruptcy judge on Monday told the attorneys for pharmaceutical services company Azzur Group that they have a "hard hill to climb" to get their client's bankruptcy proposal approved in court, durin... (more story)
Regeneron Pharmaceuticals said Monday it emerged as the winning bidder for 23andMe, agreeing to pay $256 million to scoop the once high-flying consumer genomics firm out of bankruptcy while pledging to uphold ... (more story)
Not-for-profit New York City private school Manhattan Country School has filed for Chapter 11 protection in a New York bankruptcy court with more than $27.4 million in debt, saying it's insolvent and on the ve... (more story)