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Inflation, Election Anxiety Drove Bankruptcy Hike, Experts Say
Bankruptcy filings for both businesses and consumers have risen by 16% over the past year, with factors such as inflation, residual impacts of high interest rates, the COVID-19 pandemic, and macroeconomic uncertainties in the run-up to a contentious presidential election as key drivers, restructuring experts told Law360.
Meet The Attorneys In Wellpath's Ch. 11 Case
Prison healthcare provider Wellpath Holdings has called on attorneys from McDermott Will & Emery LLP to help guide its Chapter 11 case as the company angles to trim $500 million from its more than $644 million in funded debt by selling off its behavioral health arm.
Q&A With FTX Lead Ch. 11 Atty Andy Dietderich — Part II
Sullivan & Cromwell LLP's Andy Dietderich led the legal team that represented FTX Trading Ltd. in its two-year-long, $14 billion-plus Chapter 11 case — from shortly before the company's bankruptcy filing in Delaware to its recent successful confirmation hearing.
Inflation, Election Anxiety Drove Bankruptcy Hike, Experts Say
Bankruptcy filings for both businesses and consumers have risen by 16% over the past year, with factors such as inflation, residual impacts of high interest rates, the COVID-19 pandemic, and macroeconomic uncertainties in the run-up to a contentious presidential election as key drivers, restructuring experts told Law360.
Meet The Attorneys In Wellpath's Ch. 11 Case
Prison healthcare provider Wellpath Holdings has called on attorneys from McDermott Will & Emery LLP to help guide its Chapter 11 case as the company angles to trim $500 million from its more than $644 million in funded debt by selling off its behavioral health arm.
Q&A With FTX Lead Ch. 11 Atty Andy Dietderich — Part II
Sullivan & Cromwell LLP's Andy Dietderich led the legal team that represented FTX Trading Ltd. in its two-year-long, $14 billion-plus Chapter 11 case — from shortly before the company's bankruptcy filing in Delaware to its recent successful confirmation hearing.
Expert Analysis
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Large Cap More
Counsel for plaintiffs in the multidistrict litigation over the collapse of cryptocurrency trading platform FTX Trading Ltd. told a Florida federal judge Thursday that they have reached a deal with the FTX est... (more story)
The state of Maryland argued in New York federal court Thursday that it should be allowed to pursue claims against the Sackler family members who own bankrupt OxyContin maker Purdue Pharma LP, and that a tempo... (more story)
A Georgia bankruptcy judge on Thursday said he will have to consider arguments on whether third-party claim releases in skilled nursing facility operator LaVie Care Centers' Chapter 11 plan are truly consensua... (more story)
Prison healthcare provider Tehum Care Services will begin soliciting votes on a Chapter 11 plan crafted by the company and committees for creditors and tort claimants after securing a Texas bankruptcy judge's ... (more story)
A Delaware bankruptcy judge Thursday confirmed the Chapter 11 liquidation plan of Vyaire Medical, after the ventilator maker completed sales of its two businesses.
Diamond Sports Group received approval for its Chapter 11 plan Thursday from a Texas bankruptcy court, clearing the way for its continued broadcast of 27 professional sports teams and new streaming options thr... (more story)
Satirical news website The Onion has purchased Alex Jones' Infowars at a Chapter 7 bankruptcy auction, according to a Thursday announcement by the firm representing Sandy Hook shooting survivors who won a $1.4... (more story)
The former Republic First Bank failed because of its inability to hold certain debt securities, its insufficient liquidity and an ineffective board and management team, according to a post-mortem review issued... (more story)
U.S. prosecutors have asked a New York federal judge to help secure millions of dollars worth of digital assets held at cryptocurrency exchange Binance, alleging the tokens are tied to what they described as b... (more story)
Manhattan federal prosecutors urged a lenient sentence for former FTX technology chief Zixiao "Gary" Wang, telling the court on Wednesday that his "outstanding cooperation" was instrumental in securing the lig... (more story)
Mid Cap More
Attorneys representing disgraced ex-lawyer Rudy Giuliani asked a New York federal court to allow them to withdraw from representing him in a pair of cases from former Georgia poll workers seeking to collect a ... (more story)
PetroQuest Energy Inc., an oil and gas exploration company, filed for bankruptcy in Delaware reporting $115.5 million in debt with plans to sell its Texas operations five years after it exited Chapter 11 in 2019.
A Delaware bankruptcy judge Wednesday agreed to approve the Chapter 11 plan of battery company Ambri Inc., which will sell its assets to its lenders and wind down.
A Delaware bankruptcy judge Wednesday confirmed the Chapter 11 plan of popular New York-area chicken restaurant chain Sticky's that includes a $300,000 equity infusion from existing investors.
A Delaware bankruptcy judge has approved Blink Fitness' $121 million sale of its assets to U.K.-based PureGym Ltd., whose subsidiary won an auction held late last month, overruling objections over the auction'... (more story)
The litigation trustee for bankrupt kitchenware maker Instant Brands Wednesday filed suit in Texas bankruptcy court accusing the company's equity owner of lying to lenders and sending the company into Chapter ... (more story)
Vaccine developer Gritstone bio Inc. won a Delaware bankruptcy judge's approval Wednesday to borrow $25 million in new financing to support itself in Chapter 11 as the biotechnology company works to find a buyer.
The Texas federal court overseeing a U.S. Trustee's Office probe of a former Jackson Walker LLP partner's undisclosed relationship with a then-bankruptcy judge has given the firm until Friday to turn over its ... (more story)
As commercial real estate distress continues to play out, attorneys are seeing lenders adopt new strategies to save or reduce their exposure to troubled assets, sometimes working in tandem with investors looki... (more story)
Former used car seller and financier Vroom Inc. filed for Chapter 11 bankruptcy Wednesday in Texas with a prepackaged plan to swap $290 million of debt for the bulk of the equity in a reorganized business.