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Sleep Number Can Solicit Ch. 11 Plan Votes

A New York bankruptcy judge Thursday agreed to allow mattress retailer Sleep Number to send its Chapter 11 liquidation plan to creditors for a vote, after the debtor reached an agreement on outstanding objecti... (more story)

Exec Who Tried To Buy UK Soccer Club Cops To $500M Fraud

A Florida executive who once tried to buy England's Everton soccer club told a New York federal judge Thursday that he engaged in a large-scale financial sham, copping to fraud charges ahead of his scheduled Monday trial.

Cyber Incident Halts Bankruptcy Court Noticing Nationwide

The nationwide system for providing notice to creditors in bankruptcy cases has been disrupted by a cybersecurity incident, and it is not currently known when the outage will end.

Womble Bond Gains 5 Finance Litigators From K&L Gates

Womble Bond Dickinson announced Thursday that it has hired five litigators from K&L Gates LLP to join its New York and Boston offices, touting their history advising some of the country's largest financial institutions.

LIV Golf OK To Tap $54M, Enter Into RSA Amid Player Talks

LIV Golf secured a New Jersey bankruptcy judge's blessing on Wednesday to borrow $53.6 million in Chapter 11 and assume a $300 million restructuring agreement, giving the debtor more time to try to persuade pl... (more story)

Spirit Lands Flight Simulator Buyer, But Aircraft Deal Frays

A New York bankruptcy judge Wednesday signed off on Spirit Airlines' deal to sell its four full flight simulators to SIM International BV for $8.3 million, while a previous sale of some 20 aircraft to CSDS Ass... (more story)

Republic National Wants OK On $30M Sale Of Ky. Nondebtor

Republic National Distributing Co. asked a Texas bankruptcy judge to greenlight the sale of a nondebtor joint venture expected to bring it $30 million as the longtime alcohol distributor looks to wrap up its Chapter 11.

Genesis Healthcare Gets Approval For Liquidation Plan

A Texas bankruptcy judge Wednesday approved Genesis Healthcare's Chapter 11 liquidation plan after the nursing home operator secured the final signature it needed to close the $1 billion sale of its facilities.

Trader Sues Crypto Firm Founded By Reform Donor For £10M

A software engineer has sued BitMEX, alleging that the cryptocurrency exchange and trading platform founded by Reform UK donor Ben Delo sold him unlicensed crypto-derivatives, leading to losses of more than £1... (more story)

2nd Circ. Says Voyager's Bank Didn't Know About Fraud

The Second Circuit has declined to revive a 53-count suit alleging Voyager Digital's former bank, Metropolitan Commercial Bank, was complicit in the now-defunct crypto lender's fraud, agreeing with the lower c... (more story)

Mid Cap More

Horticultural Supplier Asset Sales Bring In Nearly $33M

A Delaware bankruptcy judge has approved three sales of the assets of horticultural and agricultural supply distributor BFG Supply Co. LLC, including a $27.4 million sale of its main operational assets to Grif... (more story)

Judge Skeptical Of Injunction Bid In Almond Grower Ch. 11

A California bankruptcy judge Wednesday questioned the need for an injunction in the Chapter 11 plan of almond grower Trinitas Advantaged Agriculture Partners, saying he could not think of any creditor that wo... (more story)

AGs Say Character.AI Chats Must Be Protected In Ch. 11 Sale

A group of state attorneys general told a Delaware bankruptcy judge Wednesday that protection of minors and privacy concerns need to be addressed before the company behind artificial intelligence entertainment... (more story)

Panel Won't Revive Doctor's MedMal Suit Against Emory

A Georgia appeals court declined Wednesday to reinstate a doctor's lawsuit against Emory Healthcare, ruling that the doctor's bankruptcy proceedings didn't extend the state's five-year deadline for bringing me... (more story)

EV Battery Co. Agrees To Ch. 7 Conversion With Creditors

Bankrupt electric vehicle battery swapping company Ample Inc. has filed a joint motion with its creditors seeking to convert its Chapter 11 case to a Chapter 7 liquidation, saying the company has not generated... (more story)

EV Charging Co. To Pay Investors $4M In Liquidity Woes Suit

Bankrupt electric-vehicle charging infrastructure company Charge Enterprises Inc. has agreed to pay $4 million to resolve an investor's proposed class action alleging the company and its executives concealed a... (more story)

Creditors Point To Acrimony In Call For Camp Mystic Trustee

Creditors and other parties in the Chapter 11 case of Camp Mystic told a Texas bankruptcy judge Tuesday that the "extraordinary acrimony" between the debtor's owners and the families of campers who died in a 2... (more story)

Committee, Lenders Reach $13M Deal In Summer Camp Ch. 11

Secured lenders and unsecured creditors of summer camp owner SIMAD Holdings have reached a settlement agreement that would provide a $13 million recovery pool for unsecured creditors to resolve a dispute about... (more story)

Insurers Challenge SF Diocese Plan's Abuse Payout Details

Multiple insurers have objected to the Chapter 11 plan disclosure statement of the Roman Catholic Archbishop of San Francisco, arguing the bankruptcy proposal did not contain enough information.

ProPhase Units Can Seek Plan Votes After Claim Set At $25M

The bankrupt COVID-19 testing arm of ProPhase Labs can seek votes on its Chapter 11 plan after a New Jersey bankruptcy judge granted interim approval to the company's disclosure statement.

Expert Analysis

Bankruptcy Deadlines, Concessions Can Decide Lien Priority

The Fifth Circuit's recent decision in Adler v. Energy Debt Holdings warns buyers of secured claims to watch for b... (more story)

What Lawyers Should Know Before Accepting Crypto Payment

As clients increasingly request to pay legal fees, retainers and escrow funds using cryptocurrency, lawyers should... (more story)

Data Sale In Spirit Bankruptcy Raises Novel Privacy Risks

Spirit Airlines' planned sale of deidentified business data to Google for artificial intelligence training exposes... (more story)