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How Joann's Bankruptcy Led To The Closure Of All Its Stores
Over the weekend, Joann Inc., the renowned fabric and crafts retailer, announced plans to close all 800 of its stores nationwide and wind down operations, after failing to draw bids from any potential buyers who planned to keep the stores open.
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Meet The Attorneys Winding Down Stoever Glass In Ch. 7
The 61-year-old Wall Street municipal bond investment firm Stoever Glass & Co. Inc. has called upon two attorneys from Reitler Kailas & Rosenblatt LLP to help it tackle a Chapter 7 liquidation to be administered under the trusteeship of a Togut Segal & Segal LLP partner.
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Spirit's Ch. 11 Marks Shift To Debt Reduction Over Cost Cuts
With fresh court approval of its Chapter 11 plan in hand, Spirit Airlines is set to emerge from bankruptcy carrying $795 million less in debt, marking a new generation of air carriers to file for bankruptcy in order to shave debt rather than cut operating costs, according to a Fitch Ratings report.
Large Cap More
A Texas bankruptcy judge Tuesday heard how a claims agent accepted a ballot that flipped some 11,000 already cast votes on the Chapter 11 plan of Johnson & Johnson's talc liability unit.
Infowars founder Alex Jones told the Connecticut Appellate Court that he shouldn't be forced to pay the judgment that Sandy Hook families won in their long-running defamation case as he awaits a review by the ... (more story)
Following New York's passage of a tenant-friendly rent law in 2019, a spate of distressed Emerald Equity Group LLC properties are facing foreclosure or bankruptcy. Now, scrutiny by the state Attorney General's... (more story)
Counsel for bankrupt drugmaker Purdue Pharma received approval Tuesday for an extension of a mediation window during which litigation against nondebtors is paused after telling a New York judge that it has rea... (more story)
Former Texas bankruptcy judge David R. Jones said Monday that he's been talking with the U.S. Trustee with the aim of avoiding "live trial testimony" in the probe of his undisclosed romantic relationship with ... (more story)
An attorney whose firm represented about 11,000 talc injury claimants told a Texas bankruptcy judge Monday about the process by which he cast ballots for his clients in favor of the $10 billion Chapter 11 plan... (more story)
A New York bankruptcy judge has allowed Texaco to reopen its 37-year-old bankruptcy case to adjudicate environmental cleanup lawsuits worth up to $100 million filed by Louisiana government entities but decline... (more story)
Seyfarth Shaw LLP hired a veteran bankruptcy and commercial litigation attorney as a partner for the restructuring and insolvency team in its Chicago office, the firm has announced.
Wellpath will delay confirmation of its Chapter 11 plan by two weeks to buy time to work through objections to the reorganization of its prison healthcare business, attorneys told a Texas bankruptcy judge Monday.
Mediators helping to craft a new settlement in the case of bankrupt OxyContin maker Purdue Pharma LP said in their latest update in New York bankruptcy court that the company's revised deal does not contain no... (more story)
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The former CEO of an energy drinks company on Tuesday urged a Florida state court to impose $732 million in sanctions against a law firm in a legal fees dispute, saying its attorneys' litigation misconduct cau... (more story)
A Delaware bankruptcy judge on Tuesday gave biotech company Biora Therapeutics Inc. the go-ahead to accept a $30 million credit bid for its assets after secured and unsecured creditors agreed to revise a relat... (more story)
A Delaware bankruptcy judge on Tuesday OK'd the Chapter 11 plan of dental technology maker Biolase Inc., which was fully consensual following changes to gain the approval of the U.S. Trustee and the official c... (more story)
A Texas bankruptcy judge on Tuesday agreed to give interim approval for landscaping plants grower TreeSap Farms LLC to access $14 million of its debtor-in-possession financing, which it hopes to use to turn it... (more story)
Lithium-ion battery maker iM3NY has reached a settlement with its unsecured creditors' committee, avoiding a fight over converting the case to a Chapter 7 liquidation after the creditors objected to the debtor... (more story)
The U.S. Supreme Court declined Monday to hear a dispute over what transactions are protected from clawback by a trustee, leaving in place a Second Circuit decision finding that the U.S. Bankruptcy Code's safe... (more story)
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a fourth-quarter "Park Avenue Phenomenon" seen by top brokerages, industry reaction to the potential federal... (more story)
Counsel for the administrator of cryptocurrency custodian Prime Core's Chapter 11 wind-down plan on Friday defended its decision to treat the debtor's cryptocurrency as property of the estate, even when it cam... (more story)
First Horizon Bank told a Florida federal judge that a former bank CEO cannot drop claims against individual bank directors to shield himself from an inevitable adverse judgment in the suit, which accused the ... (more story)
A California federal judge has permanently tossed an antitrust suit accusing Google of kicking a now-defunct advertising app maker out of the Play Store in order to squelch a potential digital advertising riva... (more story)