Under The Radar: Bankruptcy News You May Have Missed
The daughter of bankrupt Chinese exile Miles Guo is fighting a contempt bid brought by the Chapter 11 trustee of her father's estate. Brazilian airline Gol Linhas and Spirit Airlines are seeking to implement third-party releases in their respective Chapter 11 plans. And bankrupt financial technology company Synapse appears to be the subject of a grand jury investigation.
5th Circ. Serta Ruling Gives Grist For Lenders Left Behind
A Fifth Circuit decision rejecting mattress maker Serta Simmons' controversial "uptier" exchange offers new ammunition for an array of investors excluded from non-pro rata debt transactions, a development that could curb favored creditors and private equity firms' appetite for deals marked by so-called lender-on-lender violence.
Pivot To Conventional Oil Offers Hope For Reorganized Vertex
Fuel refiner Vertex has effectuated its plan to emerge from bankruptcy by recapitalizing with up to $100 million in new financing while handing equity to old lenders, and experts say it may fare better now by focusing on conventional oil production.
Under The Radar: Bankruptcy News You May Have Missed
The daughter of bankrupt Chinese exile Miles Guo is fighting a contempt bid brought by the Chapter 11 trustee of her father's estate. Brazilian airline Gol Linhas and Spirit Airlines are seeking to implement third-party releases in their respective Chapter 11 plans. And bankrupt financial technology company Synapse appears to be the subject of a grand jury investigation.
5th Circ. Serta Ruling Gives Grist For Lenders Left Behind
A Fifth Circuit decision rejecting mattress maker Serta Simmons' controversial "uptier" exchange offers new ammunition for an array of investors excluded from non-pro rata debt transactions, a development that could curb favored creditors and private equity firms' appetite for deals marked by so-called lender-on-lender violence.
Pivot To Conventional Oil Offers Hope For Reorganized Vertex
Fuel refiner Vertex has effectuated its plan to emerge from bankruptcy by recapitalizing with up to $100 million in new financing while handing equity to old lenders, and experts say it may fare better now by focusing on conventional oil production.
Expert Analysis
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Large Cap More
A Chubb unit must give certain documents to Silicon Valley Bank's former parent SVB Financial Group regarding coverage for a fraud that SVB Financial said caused $73 million in losses, a North Carolina federal... (more story)
A Delaware bankruptcy judge on Friday gave bankrupt medical implant manufacturer Exactech permission to pay its top executives up to $5 million in bonuses based on the result of its upcoming asset auction.
Steward Health Care can't hire Latham & Watkins as the second law firm in its Chapter 11 case, the Office of the U.S. Trustee has told a Texas bankruptcy judge, saying it would add to a growing list of adminis... (more story)
A New York bankruptcy judge agreed Friday to extend an injunction blocking litigation against the former owners of Purdue Pharma for another month after being told a deal on a new Chapter 11 plan for the OxyCo... (more story)
A New York bankruptcy judge on Friday ruled former shareholders and executives of Greek shipping group Eletson Holdings Inc. must comply with the court's confirmed Chapter 11 plan, directing them to assist in ... (more story)
99 Cents Only, a former California-based discount store, received a Delaware bankruptcy judge's approval Friday to wind down its affairs under a Chapter 11 plan based on a deal reached between its unsecured cr... (more story)
Defunct trucking company Yellow Corp. told a Delaware bankruptcy judge on Thursday that its last delivery was made the day before it laid off 22,000 union workers, making it a "liquidating fiduciary" that woul... (more story)
In the lead-up to and aftermath of California hospital operator Prospect Medical Holdings Inc.'s $1 billion bankruptcy, Connecticut lawmakers are considering new regulatory powers, promising and penning oversi... (more story)
Bankrupt medical implant manufacturer Exactech asked a Delaware bankruptcy judge Thursday for permission to pay up to $5 million in bonuses to its top executives, saying they are performing necessary work for ... (more story)
The managing partner of White and Williams LLP's New York office has taken on the role of chair of the firm's financial restructuring and bankruptcy practice, where she plans to focus on improving the practice... (more story)
Mid Cap More
A Florida souvenir store chain has asked the U.S. Supreme Court to consider its challenge to a Second Circuit decision foreclosing its arguments that a bankrupt beachwear company fraudulently procured a tradem... (more story)
A Texas bankruptcy judge on Friday approved a prepackaged Chapter 11 plan for The Container Store that includes opt-out releases in favor of nondebtors, saying the provisions don't run afoul of the Supreme Cou... (more story)
A Ninth Circuit panel on Friday partly revived a Washington billing services company's lawsuit over a soured business deal with bankrupt Addison Data Services, finding a bankruptcy settlement agreement and the... (more story)
A Houston plaintiffs attorney has filed for personal Chapter 11 protection with more than $202 million of litigation funding liabilities, according to his petition in the Southern District of Texas.
Bankruptcy attorney Joseph Grier of Grier Wright Martinez PA will serve as special master to identify, receive, track and distribute billions of dollars that will go toward restitution to victims defrauded by ... (more story)
A Louisiana federal judge has sent a $22 million insurance dispute over oil drilling equipment damaged by Hurricane Ida back to state court, citing an invalid arbitration clause between the parties.
The U.S. Trustee's Office has urged a Delaware bankruptcy judge not to confirm Blink Fitness' Chapter 11 plan, arguing it is unfairly seeking to exculpate professionals for future acts and extend an injunction... (more story)
Bankrupt hospital owner CarePoint Health Systems Inc. received approval of its Chapter 11 plan disclosure statement Thursday after a Delaware bankruptcy judge heard about a string of modifications that resolve... (more story)
GenapSys is pushing back on Paul Hastings LLP's bid to force it to turn over documents that it had inadvertently released during discovery in a legal malpractice suit alleging that the law firm improperly draf... (more story)
A stalled developer received a Delaware bankruptcy judge's final seal of approval Thursday to use an $11 million loan funded by the California city where it planned to build a resort as it prepares to sell its... (more story)