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Under The Radar: Bankruptcy News You May Have Missed
Firstbase.io and a creditor fought over a law firm's bid for $1.6 million in fees, a New York judge gave a debtor access to a $500,000 postpetition financing package from an insider lender, and another approved a settlement between Bernie Madoff's trustee and Koch Industries.
Lower Construction Demand Sent Porta Potty Giant To Ch. 11
Weaker demand in the construction market over the past several years combined with inflation and heightened competition led United Site Services Inc., the parent company of porta-potty provider Johnny On The Spot, to file for bankruptcy.
Azul Judge Says Releases Proper In Ch. 11 Opinion
The New York judge who confirmed the Chapter 11 plan of Brazilian airline Azul SA last month issued an opinion Tuesday explaining his decision to overrule objections lodged by the U.S. Trustee's Office, saying the releases and exculpation provisions of the plan and the payment of indenture trustee expenses were all proper under the Bankruptcy Code and relevant case law.
Under The Radar: Bankruptcy News You May Have Missed
Firstbase.io and a creditor fought over a law firm's bid for $1.6 million in fees, a New York judge gave a debtor access to a $500,000 postpetition financing package from an insider lender, and another approved a settlement between Bernie Madoff's trustee and Koch Industries.
Lower Construction Demand Sent Porta Potty Giant To Ch. 11
Weaker demand in the construction market over the past several years combined with inflation and heightened competition led United Site Services Inc., the parent company of porta-potty provider Johnny On The Spot, to file for bankruptcy.
Azul Judge Says Releases Proper In Ch. 11 Opinion
The New York judge who confirmed the Chapter 11 plan of Brazilian airline Azul SA last month issued an opinion Tuesday explaining his decision to overrule objections lodged by the U.S. Trustee's Office, saying the releases and exculpation provisions of the plan and the payment of indenture trustee expenses were all proper under the Bankruptcy Code and relevant case law.
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Large Cap More
First Brands sued former board member Edward James and Utah-based company Onset Financial Inc. in Texas bankruptcy court Friday, alleging he operated as Onset's "secret partner" to rig contracts between First ... (more story)
A business owner has filed a lawsuit this week accusing five attorneys from five different small California law firms of conspiring with his ex-business partner to steal assets from a company the two had jointly owned.
The owners of the reorganized equity in oil driller Sanchez Energy proposed a deal Friday in Texas bankruptcy court that will end lien-related litigation with unsecured creditors by paying $8.5 million of lega... (more story)
Stoli will provide an update on its Chapter 11 reorganization more than three months after a Texas bankruptcy judge rejected its proposed plan. Education tech firm Conscious is seeking approval of its disclosu... (more story)
Venezuela pressed the Third Circuit Thursday to overturn an order greenlighting the nearly $6 billion sale of Citgo to satisfy billions of dollars of the country's debt, arguing that the underlying attachment ... (more story)
A dispute over ownership of critical intellectual property assets delayed a Delaware bankruptcy judge's consideration of final approval for a $17 million postpetition loan Thursday in the Chapter 11 case of sp... (more story)
A securities class action case against chipmaker Wolfspeed Inc. was transferred to North Carolina federal court Wednesday following a New York judge's order directing the movement of the consolidated investor ... (more story)
Following the official appointment of new chief managing partner Joshua Christie, Ice Miller LLP announced that it has named two attorneys as deputy managing partners and has elevated six attorneys to partner.
Brazilian airline Azul SA secured a New York bankruptcy judge's approval Thursday to hire investment banks to help search for alternatives to $1.2 billion in exit financing offered by its Chapter 11 lenders, a... (more story)
A Texas bankruptcy judge on Wednesday said the former chief executive of bankrupt subprime car loan lender Tricolor Holdings will have to appear at a creditor meeting despite his argument that he won't be able... (more story)
Mid Cap More
The Roman Catholic Diocese of Buffalo on Friday told a New York bankruptcy judge that a U.S. Trustee's Office proposal that it be required to obtain affirmative consent for claims releases in its Chapter 11 pl... (more story)
Smart Communications, which provides phone and messaging services for inmates in prisons across the country, has filed for Chapter 11 protection in Florida bankruptcy court facing an at least $42 million judgm... (more story)
Norcold LLC told a Delaware bankruptcy court that its disclosure statement should be approved, saying it is truthful and transparent about creditor recoveries.
Debtors connected to the former Hudson Hotel in New York City urged the Delaware bankruptcy court to grant their request to retain DLA Piper as their special counsel for their Chapter 11 bankruptcy case despit... (more story)
Prime Asset LLC, a lender to car dealerships, has sued PrimaLend Capital Partners and its CEO in Texas bankruptcy court, alleging that PrimaLend pushed it into deals that saddled Prime with excessive debt as p... (more story)
A Connecticut bankruptcy judge Thursday allowed a steel company to replace its counsel at Pullman & Comley LLC after failing to pay the firm more than $389,000 in fees and expenses, avoiding a possible dismiss... (more story)
Center City Healthcare, the former operator of two Philadelphia hospitals, received court approval Thursday to send its liquidation plan to a creditor vote, more than six years after it filed for Chapter 11 pr... (more story)
A Delaware bankruptcy judge said Thursday that he will approve the Chapter 11 liquidation plan for electric vehicle technology company Ideanomics Inc. once an injunction barring future claims in the plan is narrowed in scope.
The Delaware Chancery Court has refused to let either side bypass an upcoming trial in a dispute between autonomous-robotics company Seegrid Corp. and former employees over the forced repurchase of stock optio... (more story)
Taste of Belgium Rookwood LLC launched a streamlined Chapter 11 in Ohio bankruptcy court late on Tuesday, reporting about $156,000 in assets against $3 million in liabilities and aiming to stabilize its remain... (more story)