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Spirit Airlines Settles With AerCap, Dr. Phil Defends Layoffs
Spirit Airlines reached a global settlement with its largest lessor, AerCap, clearing a major hurdle in its second Chapter 11 case. 23andMe received a Missouri bankruptcy court's approval to include up to $86.5 million in data breach settlements in its Chapter 11 plan. Dr. Phil defended layoffs at his joint venture with Trinity Broadcasting, saying the job cuts were necessary due to financial constraints. And FTX's recovery trust sued Genesis Digital Assets to reclaim more than $1 billion the cryptocurrency exchange invested in it before bankruptcy.
Job.com Hit Ch. 11 After Financial Turmoil, Lender Takeover
The owner of Job.com, an AI-powered recruiting technology firm, in July filed for bankruptcy in Delaware saying its pivot away from more traditional staffing agency models and internal disorganization led it to Chapter 11.
What's Happening In Bankruptcy Court This Coming Week
Furniture company Walker Edison will undergo a hearing about its postpetition financing deal, a judge will consider the terms of a global resolution proposed between Spirit Airlines and its largest lessor, and the Chapter 15 representative for an Austrian biotechnology company will seek subpoena power. Here are some of the noteworthy hearings scheduled for next week.
Spirit Airlines Settles With AerCap, Dr. Phil Defends Layoffs
Spirit Airlines reached a global settlement with its largest lessor, AerCap, clearing a major hurdle in its second Chapter 11 case. 23andMe received a Missouri bankruptcy court's approval to include up to $86.5 million in data breach settlements in its Chapter 11 plan. Dr. Phil defended layoffs at his joint venture with Trinity Broadcasting, saying the job cuts were necessary due to financial constraints. And FTX's recovery trust sued Genesis Digital Assets to reclaim more than $1 billion the cryptocurrency exchange invested in it before bankruptcy.
Job.com Hit Ch. 11 After Financial Turmoil, Lender Takeover
The owner of Job.com, an AI-powered recruiting technology firm, in July filed for bankruptcy in Delaware saying its pivot away from more traditional staffing agency models and internal disorganization led it to Chapter 11.
What's Happening In Bankruptcy Court This Coming Week
Furniture company Walker Edison will undergo a hearing about its postpetition financing deal, a judge will consider the terms of a global resolution proposed between Spirit Airlines and its largest lessor, and the Chapter 15 representative for an Austrian biotechnology company will seek subpoena power. Here are some of the noteworthy hearings scheduled for next week.
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Large Cap More
A Delaware bankruptcy judge Tuesday said she would approve household furnishings retailer At Home Group Inc.'s plan to cut $1.6 billion in funded debt with an equity swap the company said was supported by near... (more story)
The U.S. Supreme Court held its first conference Monday, presenting the justices with several petitions of interest to patent practitioners before the court's new term kicks off next week.
Automotive manufacturer Grammer Inc. filed a suit in the Delaware Chancery Court accusing APC Parent LLC and guarantor First Brands Group, which filed for Chapter 11 protection on Sunday, of breaching multiple... (more story)
A New York bankruptcy judge Monday found the liquidators of Silicon Valley Bank's Cayman Islands branch lacked standing in their bid to bring some $944 million in claims, ruling that the officials failed to ti... (more story)
A Texas bankruptcy judge Monday gave Genesis Healthcare Inc. up to 15 more days of breathing room to deal with issues at an Alabama skilled nursing facility that the government has been trying to shut down.
A Texas bankruptcy judge Monday set a February date for a hearing on the approval of Imerys Talc America and Cyprus Mines Corp.'s latest Chapter 11 plan, which changes the handling of overseas talc damages cla... (more story)
Jewelry retailer Claire's has secured a sale for some of its business in the U.K. and Ireland to private equity firm Modella Capital, the company's British restructuring administrator announced Monday.
Yale New Haven Health Services Corp. has agreed to pay $45 million to hospital operator Prospect Medical Holdings Inc. to conclude their legal dispute over a failed $435 million sale of three Connecticut hospi... (more story)
Auto parts maker First Brands Group filed for Chapter 11 protection late Sunday in Texas bankruptcy court with more than $10 billion in debt and said it had secured $1.1 billion in bankruptcy financing from it... (more story)
A holding company that nominally owns a $33 million New Jersey mansion has asked a Connecticut federal judge to flip a bankruptcy finding that the company was equitably owned by Chinese exile Miles Guo and fun... (more story)
Mid Cap More
A Texas bankruptcy judge Tuesday approved restaurant chain Hooters of America's plan to sell more than 100 restaurants to a group of franchisees and exit Chapter 11, confirming the debtor's reorganization plan... (more story)
The bankruptcy judge presiding over the Chapter 11 case of Merit Street Media expressed his concerns Monday over some of the evidence presented during a multi-day trial over motions to dismiss the company's ba... (more story)
A Washington state bank has been accused of keeping afloat a real estate investment firm's $230 million Ponzi scheme by maintaining the enterprise's accounts even when evidence of fraud surfaced, according to ... (more story)
Bankrupt equipment sale and rental company Worldwide Machinery filed a motion late Friday in Texas court seeking approval of a $65.6 million sale of its assets pursuant to a prepetition marketing process.
A Delaware bankruptcy judge Monday refused to compel online furniture retailer Walker Edison to set aside around $4 million from a potential sale for a logistics company, which asserted it has a lien justifying the reserve.
Pharmaceutical services company Azzur Group objected to a motion from the U.S. Trustee's Office seeking to compel the debtor to file an amended Chapter 11 plan after it failed to confirm its last plan in May.
A New York bankruptcy judge has told Empire Cannabis Club to surrender the property it leases at a location in Brooklyn to its landlord, ruling the bankrupt tenant effectively rejected the lease because it nev... (more story)
A federal judge in Florida on Friday recommended approving a confidential settlement between Dollar Tree and the parents of a toddler who consumed lead from WanaBana cinnamon applesauce pouches, saying it's in... (more story)
A Missouri bankruptcy judge on Friday gave the go-ahead to include customer data breach settlements worth up to $86.5 million in the Chapter 11 plan of genetic testing company 23andMe.
A property owner accused of defrauding an investor with phony development plans for a New Jersey site on the Hudson River sought Chapter 11 protection ahead of a sheriff's sale Friday, claiming it owes $67.3 m... (more story)