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Why Boy Scout Releases Were OK Despite Failing Purdue Test
The Third Circuit's rejection of challenges to third-party releases in the Boy Scouts of America's Chapter 11 plan may appear at odds with the U.S. Supreme Court's Purdue decision last year, but the panel said the already enacted plan can't be undone even if it couldn't pass muster today, experts told Law360.
Restaurant Headwinds Blew Bertucci's To 3rd Ch. 11
Italian dining chain Bertucci's filed for bankruptcy in Florida last month, marking its third Chapter 11 case in seven years as many restaurant brands struggle with growing costs and decreased consumer spending.
Lack Of Fundamental Change Led To Rite Aid's Ch. 22 Case
Pharmacy chain Rite Aid commenced its second Chapter 11 case since 2023 last week, falling back into bankruptcy so soon because its failure to make fundamental operational changes the first time around led to predictably tightfisted vendors who imposed restrictive credit terms that worsened the company's liquidity problems, experts told Law360.
Why Boy Scout Releases Were OK Despite Failing Purdue Test
The Third Circuit's rejection of challenges to third-party releases in the Boy Scouts of America's Chapter 11 plan may appear at odds with the U.S. Supreme Court's Purdue decision last year, but the panel said the already enacted plan can't be undone even if it couldn't pass muster today, experts told Law360.
Restaurant Headwinds Blew Bertucci's To 3rd Ch. 11
Italian dining chain Bertucci's filed for bankruptcy in Florida last month, marking its third Chapter 11 case in seven years as many restaurant brands struggle with growing costs and decreased consumer spending.
Lack Of Fundamental Change Led To Rite Aid's Ch. 22 Case
Pharmacy chain Rite Aid commenced its second Chapter 11 case since 2023 last week, falling back into bankruptcy so soon because its failure to make fundamental operational changes the first time around led to predictably tightfisted vendors who imposed restrictive credit terms that worsened the company's liquidity problems, experts told Law360.
Expert Analysis
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Large Cap More
Infowars host Alex Jones cannot avoid a $1.3 billion defamation judgment favoring the victims of the Sandy Hook Elementary massacre while he crafts an appeal to the U.S. Supreme Court in the hopes it accepts h... (more story)
A Delaware bankruptcy judge approved a request from defunct trucking company Yellow Corp. to sell a number of trucking terminals in the U.S. for a combined total of about $14 million.
McGlinchey Stafford PLLC announced that the firm has added a real estate and financial services pro to its financial services litigation practice, who joins the firm following a five-year stint in private practice.
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A New York bankruptcy judge has rejected Reed Smith LLP's effort to withdraw its representation of one of the parties vying for control of international shipping group Eletson Holdings, ruling the law firm's b... (more story)
A&O Shearman has added a restructuring attorney previously with Schulte Roth & Zabel LLP as a partner in New York, the firm announced Wednesday.
Two former executives behind bankrupt cryptocurrency investment platform Cred Inc. pled guilty Tuesday in California federal court to conspiracy to commit wire fraud, admitting they gave customers "an unreason... (more story)
A New Jersey magistrate judge on Tuesday dropped a collection of defendants from a class action brought by cancer patients alleging that Johnson & Johnson's maneuvers to settle thousands of tort claims through... (more story)
Insurers in the Chapter 11 case of cosmetics seller Avon Products Inc. have objected to vote solicitation procedures proposed by the debtor, condemning a plan for certain talc claims to be temporarily recogniz... (more story)
An insurer for a bankrupt group of Catholic friars facing child sexual abuse claims said Tuesday it wants access to information on a data breach at a consulting firm retained by a committee representing the cl... (more story)
Mid Cap More
A New Jersey bankruptcy judge on Wednesday agreed to grant interim approval for debtor-in-possession financing to Flagship Resort Development Corp., a seller of timeshares around the Atlantic City Boardwalk, a... (more story)
Indoor farming upstart Plenty Unlimited Inc. secured a Texas bankruptcy judge's blessing Wednesday on a plan to leave Chapter 11 and renew efforts to expand its strawberry-growing facility in Richmond, Virgini... (more story)
A New York federal judge denied a former Major Lindsey & Africa recruiter's bid to disqualify Smith Gambrell from representing Major Lindsey in the employee's $75 million federal defamation suit, saying the re... (more story)
Sustainability-focused financial services firm Aspirations Partners received approval Wednesday in Delaware bankruptcy court for its Chapter 11 sale procedures after reaching an agreement with unsecured credit... (more story)
A Delaware bankruptcy judge on Wednesday approved California hotel operator MOM CA Investco LLC's request to sell a 188-unit apartment complex in Redlands, California, despite an objection from creditors who h... (more story)
Insolvent technology firm AgileThought's special litigation counsel, Grant & Eisenhofer, said it was withdrawing from representing the debtor after the U.S. Trustee objected to a plan to have the firm also rep... (more story)
Restaurant chain Hooters can tap the last $30 million of its $40 million Chapter 11 debtor-in-possession loan after it agreed to escrow disputed royalty revenue to quell a creditor's objection during a Tuesday... (more story)
Boeing has fired back at defunct airline Comair's bid to get the major American aerospace company sanctioned for deleting evidence of a side letter that purportedly assured Comair that its deposit for the purc... (more story)
Gene sequencing technology firm 10x Genomics and scientific instrument maker Bruker Corp. have reached a settlement in a patent infringement lawsuit that previously led biotechnology company NanoString to file... (more story)
A group of investors in the bankrupt parent of Silvergate Bank agreed Tuesday to table its bid to expand the scope of an investigation into potential litigation claims against company insiders after striking a... (more story)