Mid Cap
-
February 28, 2025
Judge Approves Revised Blink Fitness Ch. 11 Plan
A Delaware bankruptcy judge approved Blink Fitness' Chapter 11 wind-down plan on Friday after it removed legal protections for its plan administrator.
-
February 28, 2025
California Hotel Operator Checks Into Ch. 11
Hotel owner and operator MOM CA Investco LLC and two affiliates filed for Chapter 11 protection Friday in Delaware, citing $100 million to $500 million each in assets and liabilities.
-
February 27, 2025
4th Circ. Says Trustees Can't Settle Co.'s Suit Against Ex-CEO
Separate bankruptcy trustees for a company and its former CEO have no right to settle the company's fraud claims against the CEO with insurance proceeds from a directors and officers policy, the Fourth Circuit ruled, agreeing with the insurer that only the former CEO himself has consent-to-settle rights.
-
February 27, 2025
Judge Axes NYC Loan Row, Sanctions Firm For Depositions
A New York federal judge has dismissed a commercial real estate lender's claims against two guarantors for a 2022 loan it made, ripping the lender and its ex-counsel, Fox Rothschild LLP, for deposition no-shows.
-
February 27, 2025
AI Crypto Company Joins Call For New Infowars Auction
An artificial-intelligence cryptocurrency business has joined the backup bidder for Alex Jones' Infowars platform in asking a Texas bankruptcy judge to restart an asset auction, saying it would like its bid to be considered.
-
February 27, 2025
Judge Urges $15.5M Tax Judgment Against Ex-NFL Champ
A federal magistrate judge recommended a default judgment against four-time Super Bowl champion Bill Romanowski and his wife for $15.5 million in taxes, saying in a report Thursday that the couple failed to respond to the underlying government complaint against them.
-
February 27, 2025
Aerospace Supplier Gets OK To Tap 'Rich' $4M Ch. 11 Loan
Aerospace parts supplier Dynamic Aerostructures received a Delaware bankruptcy judge's approval Thursday to borrow a slice of $12.5 million in Chapter 11 financing that the judge said was clearly needed, albeit "expensive."
-
February 27, 2025
Selendy Gay Names New Managing Partner, COO
Litigation boutique Selendy Gay PLLC announced Thursday that it has appointed bankruptcy and insolvency lawyer Kelley Cornish as managing partner and landed the top legal head of Cinch Home Services as its new chief operating officer.
-
February 27, 2025
How TreeSap Farms Got Stuck In Ch. 11
Landscaping plants grower TreeSap Farms LLC was pushed toward filing a Chapter 11 petition by Southern California drought conditions that were followed by an unusually heavy wet season, a climbing debt burden and prepetition lenders that insisted emergency funding be tied to a bankruptcy.
-
February 27, 2025
Housing Project To Drop Receiver After US Trustee Concern
New York City affordable housing complex Valdesia Gardens is transferring control of the property from a receiver back to the debtor after the U.S. Trustee's Office objected to the receiver's involvement and sought instead to appoint a Chapter 11 trustee.
-
February 26, 2025
For Large Firms, A Day In Ch. 11 Can Be Costlier Than Ever
Large companies are paying more to restructure debt both during bankruptcy and in the months leading up to a Chapter 11 filing, with the typical cost of a day in court ballooning in recent years, according to a new paper by Harvard Law School Professor Jared A. Ellias.
-
February 26, 2025
Fuel Co. Trustee Accuses Ex-Owners Of $100M Buyout Fraud
The founders and former majority owners of the bankrupt fuel distributor Mountain Express Oil Co. were hit with a lawsuit by the company's trustee Monday alleging that they took nearly $100 million out of the business through a bogus stock buyout that pushed it to the brink of insolvency.
-
February 26, 2025
Investor Says Lowenstein Sandler Violated Dispensary Deal
An investment group involved in a complex dispute between Lowenstein Sandler LLP and a cannabis dispensary has asked a New Jersey state judge to enforce a settlement order and sale order, alleging the firm has violated previous legal rulings while pursuing its claim for purportedly unpaid legal fees.
-
February 26, 2025
Celsius Can Continue Arbitration Against Crypto Miner
The litigation administrator for former cryptocurrency platform Celsius Network LLC can continue its arbitration with cryptocurrency mining operation Mawson Infrastructure that was pushed into Chapter 11 in December, a Delaware bankruptcy judge said Wednesday.
-
February 26, 2025
Meet The Attys Helping TreeSap In Ch. 11's Sticky Situation
Landscaping plants grower TreeSap Farms LLC has assembled attorneys from the firms McKool Smith and Hunton Andrews Kurth LLP to help it through a Chapter 11 aimed at fortifying its business and enabling a sale of its assets.
-
February 26, 2025
Boeing, Lockheed Supplier Hits Ch. 11 With Over $50M In Debt
Dynamic Aerostructures LLC, a Los Angeles aerospace parts supplier for Lockheed Martin and Boeing, filed for bankruptcy Wednesday, citing more than $50 million in debt, after the company suffered from "manufacturing practice inconsistencies" that resulted in quality control issues.
-
February 25, 2025
Drinks Co. Ex-CEO Files $732M Sanctions Motion Against Firm
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 caused serious financial harm while representing him in a separate federal bankruptcy case.
-
February 25, 2025
Alex Jones Asks To Maintain Stay On Sandy Hook Payment
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 state's Supreme Court, saying the plaintiffs are wrong that he discarded underlying constitutional arguments.
-
February 25, 2025
Biora Therapeutics Gets OK To Take $30M Ch. 11 Asset Bid
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 related settlement that raised objections from the U.S. trustee's office.
-
February 25, 2025
NY AG Probe Latest Headache For Crumbling Property Empire
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 Office has added a new layer to the landlord's ongoing struggles.
-
February 25, 2025
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.
-
February 25, 2025
Dental Co. Biolase Drills Down On Unopposed Ch. 11 Plan
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 committee of unsecured creditors.
-
February 25, 2025
Landscaping Plant Farmer TreeSap Hits Ch. 11 With Sale Plans
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 its business around ahead of a sale.
-
February 24, 2025
Ex-Judge Hopes To Avoid Testimony In Atty Romance Probe
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 a former Jackson Walker LLP partner, arguing that he's already given a deposition.
-
February 24, 2025
Seyfarth Hires Veteran Bankruptcy Atty For Chicago Office
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.
Expert Analysis
-
How Cos. Can Leverage IP In Corporate Bankruptcy
In light of an increase in year-to-date Chapter 11 filings, businesses must understand the importance and value of intellectual property in corporate bankruptcy and restructuring, from contributing to enterprise value, to providing leverage in negotiations and facilitating recovery, says Gregory Campanella at Ocean Tomo.
-
Avoiding Retail Bankruptcy As Economic Uncertainty Persists
Amid record retail bankruptcies and continued economic uncertainty in 2024, retailers can take specific steps like building stronger cash-flow models, managing inventory wisely and reassessing cost structures to avoid financial distress, say consultants at BRG.
-
Banking Compliance Takeaways From Joint Agency Statement
Federal bank regulatory agencies’ recent joint statement warning of risks associated with third-party fintech deposit services spotlights a fundamental problem that may arise with bank deposit products that are made through increasingly complex customer relationships, says Tom Witherspoon at Stinson.
-
Litigation Funding Disclosure Key To Open, Impartial Process
Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.
-
Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.
-
Bankruptcy Courts May Be Budding Open To Cannabis Cases
Two recent California bankruptcy court rulings, denying motions to dismiss the respective debtors' bankruptcies, provide persuasive authority to allow cannabis debtors the protections of federal bankruptcy law, say Noah Weingarten and Bethany Simmons at Loeb & Loeb.
-
Vendor Rights Lessons From 2 Chapter 11 Cases
A Texas federal court’s recent critical vendor order in the Zachry Holdings Chapter 11 filing, as well as a settlement between Rite Aid and McKesson in New Jersey federal court last year, shows why suppliers must object to critical vendor motions that do not recognize creditors' legal rights, says David Conaway at Shumaker.
-
Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?
A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.
-
Mercon Coffee Ch. 11 Ruling Shows Insider Releases' Limits
A New York bankruptcy court’s recent ruling in Mercon Coffee’s Chapter 11 case highlights the stringent requirements for retention-related transfers to insiders, even in cases where no creditor has objected, say Robert Klyman and Scott Shelley at DLA Piper.
-
Bankruptcy Trustees Need More FinCEN Guidance
Recent FinCEN consent orders in two North Carolina bankruptcy cases show that additional guidance is necessary for most types of fiduciaries overseeing bankruptcy estates or other insolvency vehicles, say Brian Shaw and David Doyle at Cozen O’Connor.
-
E-Discovery Quarterly: Rulings On Hyperlinked Documents
Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.
-
Congress Must Increase Small Biz Ch. 11 Debt Cap
Congress must act to reinstate Subchapter V, which recently sunsetted when the debt threshold to qualify reverted from $7.5 million to just over $3 million, meaning thousands of small businesses will no longer be able to use the means of reorganization, says Daniel Gielchinsky at DGIM Law.
-
How To Grow Marketing, Biz Dev Teams In A Tight Market
Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.