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Under The Radar: Bankruptcy News You May Have Missed
Rhodium challenged a $9 million fee request from Lehotsky Keller Cohn LLP for its work as special litigation counsel in a dispute with a landlord. Lenders of the company behind MTV's "Ridiculousness" argued that its bankruptcy should be dismissed. Recovery Law Group asked a court to reconsider a $392,000 fine and a three-year filing ban. And Maverick Gaming defended its sales process.
Bankrupt EdTech Co. Couldn't Graduate From COVID Boom
Educational technology company Anthology expanded quickly amid pandemic-era growth in remote learning, but then it ran into stiff competition when rivals also moved into the sector and became mired in operational dysfunction, leading the business down a path to bankruptcy, court documents showed.
Auto Industry In Spotlight After Tricolor, First Brands Ch. 11s
The recent bankruptcies of auto parts maker First Brands and subprime lender Tricolor are shining a spotlight on the auto sector with observers on the lookout for signs of further distress in the industry, as other companies with their own sets of unique problems could come under pressure.
Under The Radar: Bankruptcy News You May Have Missed
Rhodium challenged a $9 million fee request from Lehotsky Keller Cohn LLP for its work as special litigation counsel in a dispute with a landlord. Lenders of the company behind MTV's "Ridiculousness" argued that its bankruptcy should be dismissed. Recovery Law Group asked a court to reconsider a $392,000 fine and a three-year filing ban. And Maverick Gaming defended its sales process.
Bankrupt EdTech Co. Couldn't Graduate From COVID Boom
Educational technology company Anthology expanded quickly amid pandemic-era growth in remote learning, but then it ran into stiff competition when rivals also moved into the sector and became mired in operational dysfunction, leading the business down a path to bankruptcy, court documents showed.
Auto Industry In Spotlight After Tricolor, First Brands Ch. 11s
The recent bankruptcies of auto parts maker First Brands and subprime lender Tricolor are shining a spotlight on the auto sector with observers on the lookout for signs of further distress in the industry, as other companies with their own sets of unique problems could come under pressure.
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Large Cap More
Nine companies have been named to the official committee of unsecured creditors for auto parts company First Brands, including an affiliate of Raistone Capital, which urged a Texas bankruptcy judge to appoint ... (more story)
A New York bankruptcy judge Friday approved Spirit Airlines' request to borrow $200 million under a Chapter 11 financing deal and enter into a settlement with its largest lessor, letting the budget air carrier... (more story)
A Texas bankruptcy judge Friday rescheduled the Chapter 11 plan confirmation hearing for medical transport company Modivcare Inc. to give parties more time to complete discovery, pushing back the proceedings by three weeks.
Bankrupt drugstore chain Rite Aid Friday defended its decision to not pay for druggist insurance to cover ex-employees at pharmacies it has sold to former competitor CVS, while saying CVS has breached the sale... (more story)
Infowars host Alex Jones has asked the U.S. Supreme Court to stay enforcement of a Connecticut court judgment awarding more than $1 billion to the families of Sandy Hook Elementary School shooting victims, arg... (more story)
A New York bankruptcy judge said Thursday he expected to deny a request by Binance.US to dismiss Voyager Digital's breach of contract claims stemming from a collapsed asset purchase agreement between the two c... (more story)
Bankrupt dormitory operator Corvias Campus Living-USG LLC has filed a Chapter 11 plan centered on a sale of buildings to the University System of Georgia Board of Regents for $208.5 million to pay down existing note debt.
First Brands creditor Raistone Capital urged a Texas bankruptcy judge to appoint an independent examiner in the car parts maker's Chapter 11 case, saying no one has been held accountable for up to $2.3 billion... (more story)
A Delaware bankruptcy judge on Thursday approved a $6.5 million settlement between retail chain Big Lots and its directors and officers, resolving claims by unsecured creditors that the company's board bungled... (more story)
The Los Angeles County Board of Supervisors has unanimously voted to launch an investigation into a record $4 billion sex abuse settlement it approved earlier this year following claims that the Downtown L.A. ... (more story)
Mid Cap More
The insolvent operator of The Chariot, a restaurant and event venue business in New Jersey, tried Thursday to fend off attempts from its key lender to collect on its debt and effectively end its bankruptcy, as... (more story)
A Teamsters local asked a Texas bankruptcy judge to rethink his order permitting RunItOneTime LLC to sell assets to a company managed by one of its founders, saying the bankruptcy court lacked jurisdiction to ... (more story)
An Australian hemp manufacturer and its U.S. subsidiaries asked a Delaware federal judge Thursday to dismiss or pause a lawsuit filed by a former executive-turned-whistleblower, arguing the case should be defe... (more story)
Bankrupt California property developer SilverRock Development defended its proposed $65 million property sale, telling a Delaware bankruptcy court that detractors are using speculative property valuations and ... (more story)
Agriculture company Yield10 Bioscience on Thursday urged a Delaware bankruptcy judge to confirm its Chapter 11 liquidation plan, saying in a memorandum of law that the proposal would establish guidelines for a... (more story)
A North Carolina-based corporation connected to real estate investment and construction development company Abranova has filed for Chapter 11 protection in North Carolina, listing up to $50 million in liabilities.
Bankrupt metal recycling company Aleon Metals received approval Wednesday from a Texas judge for the sale of its assets to a secured creditor for $187.5 million after informing the court the company had reache... (more story)
Maryland, Pennsylvania and the creditors committee of Heritage Coal have objected to its Chapter 11 liquidation plan, telling a Delaware bankruptcy judge that legal releases should be pared down and the states... (more story)
A bankruptcy judge ruled Wednesday that the water utility for Chester, Pennsylvania, can't try to alter a five-year-old state court order allowing the bankrupt city to seek bidders for the utility company's assets.
Two Chili's food servers can continue with their claims that they were unable to take meal and rest breaks and were not reimbursed for cellphone use, a California federal judge ruled, but he winnowed the Chili... (more story)