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Meet Furniture Rental Biz Buddy Mac's Ch. 11 Attorneys
Rent-to-own furniture and appliance retailer Buddy Mac has hired attorneys from Kane Russell Coleman Logan PC to guide it through a Chapter 11 the company recently launched in hopes of reorganizing or selling the business as a going concern to address up to $50 million in debt.
Gol Linhas Plan Overturned, Linqto Cleared To Solicit Votes
A New York federal judge overturned Gol Linhas' Chapter 11 plan over third-party releases. Linqto was cleared to solicit creditor votes on its Chapter 11 plan; AmeriFirst received conditional approval for its disclosure statement despite the Office of the U.S. Trustee's objection. A Missouri judge approved 23andMe's $16.5 million cyber insurance buyback settlement.
Gol Linhas Ruling Set To Roil Post-Purdue Release Landscape
A federal judge's decision this week that Brazilian airline Gol Linhas' Chapter 11 plan releases were nonconsensual could have sweeping effects on how debtors secure valuable liability waivers in bankruptcy, complicating the question of what counts as consent under the U.S. Supreme Court's Purdue Pharma ruling, experts told Law360.
Meet Furniture Rental Biz Buddy Mac's Ch. 11 Attorneys
Rent-to-own furniture and appliance retailer Buddy Mac has hired attorneys from Kane Russell Coleman Logan PC to guide it through a Chapter 11 the company recently launched in hopes of reorganizing or selling the business as a going concern to address up to $50 million in debt.
Gol Linhas Plan Overturned, Linqto Cleared To Solicit Votes
A New York federal judge overturned Gol Linhas' Chapter 11 plan over third-party releases. Linqto was cleared to solicit creditor votes on its Chapter 11 plan; AmeriFirst received conditional approval for its disclosure statement despite the Office of the U.S. Trustee's objection. A Missouri judge approved 23andMe's $16.5 million cyber insurance buyback settlement.
Gol Linhas Ruling Set To Roil Post-Purdue Release Landscape
A federal judge's decision this week that Brazilian airline Gol Linhas' Chapter 11 plan releases were nonconsensual could have sweeping effects on how debtors secure valuable liability waivers in bankruptcy, complicating the question of what counts as consent under the U.S. Supreme Court's Purdue Pharma ruling, experts told Law360.
Expert Analysis
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Large Cap More
A New Jersey federal judge said Monday that the plaintiffs steering committee can receive invoices for Johnson & Johnson's experts' work relating to multidistrict litigation alleging the use of talcum powder c... (more story)
Cadwalader Wickersham & Taft LLP announced Tuesday that it has named a pair of experienced partners based in London and in New York and Washington, D.C., to lead the firm's financial restructuring practice.
The trustee of the bankrupt self-styled "anti-woke" financial technology startup GloriFi said Winston & Strawn LLP shouldn't be allowed to escape a malpractice lawsuit over the company's $1.7 billion failure, ... (more story)
A major Buddy's Home Furnishings franchisee entered Chapter 11 in Texas. The parent company of a Chapter 15 debtor began its own bid for U.S. insolvency recognition. And a New York law firm is seeking Chapter ... (more story)
Nonprofit medical research organization 23andMe Research Institute announced Tuesday that it has hired a longtime Pfizer attorney as its general counsel and chief risk officer.
California's Oroville Hospital and its parent company filed for bankruptcy Monday, listing more than $100 million of debt and saying it needs the protections of Chapter 11 to complete a value-maximizing sale o... (more story)
Counsel for medical transportation company Modivcare urged a Texas bankruptcy judge Monday to confirm its Chapter 11 plan and disregard the objections of the unsecured creditors committee, calling the group's ... (more story)
A Texas bankruptcy judge on Monday allowed troubled auto-parts maker First Brands Group to hire restructuring advisers including Weil Gotshal & Manges LLP in its Chapter 11 case, rejecting calls from lenders t... (more story)
A Delaware bankruptcy judge on Monday sided with three entities targeted in a $27 million clawback action by the FTX Recovery Trust and cut them from the case, saying the trust had not proven they are alter eg... (more story)
A New York bankruptcy judge on Monday said he will approve a move by Spirit Airlines to transfer two of its four preferential gate assignments at Chicago's O'Hare International Airport to American Airlines for $30 million.
Mid Cap More
Five retired bankruptcy judges are asking the U.S. Supreme Court to overturn a Fifth Circuit ruling blocking a debtor from pursuing litigation he failed to disclose in his bankruptcy case, saying the panel app... (more story)
A telecommunications company cannot deduct over $3 million as a loss tied to a subsidiary's bankruptcy proceedings, the U.S. Tax Court ruled Monday, holding that the amount must be reported as capitalized expe... (more story)
Counsel for US Magnesium told a Delaware bankruptcy judge Monday that the debtor has met with several regulatory agencies ahead of a hearing next week to convert the case to a Chapter 7 liquidation, but that t... (more story)
A Florida federal judge allowed Carlton Fields and its attorneys on Monday to withdraw from representing the plaintiffs in a dispute over the ownership of the Miss America pageant, after the firm said "irrecon... (more story)
The Delaware Chancery Court delivered a busy first week of December, featuring commercial disputes, post-closing merger and acquisition battles and renewed scrutiny of fiduciary conduct ranging from oil and ga... (more story)
A Louisiana bankruptcy judge on Monday approved the Roman Catholic Archdiocese of New Orleans' Chapter 11 plan, allowing it to go forward with a $230 million settlement with sexual abuse claimants.
The U.S. Supreme Court announced Monday that it will not take up an Indiana couple's bid for a bankruptcy court to review the legality of a tax debt, maintaining an appellate split on the power of bankruptcy c... (more story)
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including how energy scarcity is affecting data center deals.
US Magnesium's unsecured creditors committee has once again urged a Delaware bankruptcy judge not to give final approval to the former magnesium producer's $10 million Chapter 11 loan, saying it only benefits ... (more story)
Rent-to-own furniture and appliance retailer Buddy Mac Holdings and several affiliates have filed for Chapter 11 protection in Texas bankruptcy court with up to $50 million in debt.