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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
The U.S. Supreme Court on Thursday allowed bankrupt hedge fund Highland Capital to continue shielding certain key parties in its Chapter 11 case from liability while the debtor appeals a Fifth Circuit decision... (more story)
Stevens & Lee announced Thursday it has hired an attorney who formerly worked at Montgomery McCracken Walker & Rhoads LLP to bolster its bankruptcy and financial restructuring group in Delaware.
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)
Mid Cap More
A group of property development companies that Montgomery McCracken Walker & Rhoads LLP represented through years of bankruptcy reorganization still owe the firm $680,000, a Pennsylvania federal judge ruled Wednesday.
The Korea Deposit Insurance Corp. has urged a New York federal court to recognize and enforce a $14.4 million judgment it secured in South Korea against a man who defaulted on a bank loan.
Burr & Forman LLP has added a bankruptcy attorney from McCarter & English LLP to its Wilmington, Delaware, office to advise clients in corporate reorganizations and litigation in Chapter 11 and Chapter 7.
Fiber network developer Tilson Technology Management Inc. and affiliates filed for Chapter 11 protection in Delaware bankruptcy court Thursday with $100 million to $500 million in debt, claiming a client's rec... (more story)
A Maine federal judge on Wednesday denied Johns Hopkins Medical Services Corp.'s bid to dismiss a False Claims Act suit as untimely, ruling it must face allegations it failed to report being overpaid for healt... (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.