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Technical, Logistical Issues Landed Silver Airways In Ch. 11
Dragged down by technical and logistical snafus with its aircraft, Silver Airways spiraled into insolvency and filed for Chapter 11 protection in the final days of 2024 in hopes of closing a going-concern sale, but without any illusions of clearing the $457 million in debt on its balance sheet.
Under The Radar: Bankruptcy News You May Have Missed
Solar power company iSun asked to switch its bankruptcy proceedings to a Chapter 7, after finding that it couldn't afford its Chapter 11 plan. Nash Engineering Co.'s Chapter 7 trustee asked a bankruptcy judge to sign off on a $9 million settlement with two insurers that had bought back their policies in 2020. And the Second Circuit put out the call for would-be bankruptcy judges to submit their applications to sit on the bench in Manhattan.
Bankruptcy As We Know It Became Law Under Jimmy Carter
It was the late 39th president Jimmy Carter who signed into law the bill that remade the modern bankruptcy system in 1978, two months after and in the very same location as the Camp David Accords between Egypt and Israel that was one of his most celebrated achievements.
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Bradley Arant Boult Cummings LLP has announced that it promoted 17 of its attorneys from various practice groups and offices nationally to partner.
Ferguson Braswell Fraser Kubasta PC has grown its presence in Orange County, California, with the addition of five Vogt Resnick & Sherak LLP attorneys and a new office space.
A group of attorneys representing talc claimants in Johnson & Johnson unit Red River Talc's Chapter 11 case has urged a Texas bankruptcy judge to sanction Morelli Law Firm PLLC's founding partner, Benedict Mor... (more story)
A former senior partner at consulting giant McKinsey & Co. pled guilty Friday to obstructing the U.S. Department of Justice's investigation into the firm's work with opioid manufacturer Purdue Pharma LP, a mon... (more story)
Johnson & Johnson's bankrupt spin-off called Brown Rudnick's bid to represent an official committee of talc claimants "an ethical violation," telling a Texas bankruptcy judge that the law firm's previous work ... (more story)
The estate of bankrupt crypto exchange FTX said it had no involvement with a startup cryptocurrency exchange's announcement that it had purchased FTX EU and would be handling distributions to former customers ... (more story)
As the new year gets underway, numerous Delaware law firms recently announced attorney promotions, including Bayard PA, Morris James LLP, Potter Anderson & Corroon LLP and Gordon Fournaris & Mammarella PA.
Delaware firm Morris Nichols Arsht & Tunnell LLP has promoted its director of finance to serve as its chief financial officer to help steer its financial and strategic direction.
Satellite communications company Ligado Networks accused a satellite service provider of breaching a $1.7 billion cooperation deal aimed at facilitating Ligado's terrestrial network operations by failing to up... (more story)
The U.S. government objected to a $535 million settlement that bankrupt talc supplier Whittaker Clark & Daniels reached regarding talc claims in its New Jersey Chapter 11 case, saying the deal was built on fau... (more story)
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The official committee of unsecured creditors in the Chapter 11 case of mortgage services company AmeriFirst Financial Inc. had their incurred professional fees allowed by a Delaware bankruptcy judge Friday, b... (more story)
A package of bid protections for the stalking horse of bankrupt electric-engine developer First Mode needs to be reined in, the Office of the U.S. Trustee has said, urging a Delaware bankruptcy judge to reject... (more story)
The CEO of bankrupt cryptocurrency asset company SafeMoon LLC asked a Brooklyn federal judge Friday to order the government to explain whether it had a role in a social media user's "misleading" post that prom... (more story)
A D.C. federal judge Friday held Rudy Giuliani in contempt for continuing to repeat false claims that two Georgia poll workers meddled with the outcome of the 2020 presidential election, marking the second tim... (more story)
Reorganized international shipping group Eletson Holdings Inc. has urged a New York bankruptcy judge to order Reed Smith to return fees it was paid for representing the company in its Chapter 11, alleging the ... (more story)
A New Jersey bankruptcy judge on Friday gave Plastic Suppliers, a producer of compostable films and other plastic packaging, permission to put its business up for auction Jan. 27 with a $13 million baseline bi... (more story)
Oil well operator Independence Contract Drilling received approval Thursday from a Texas bankruptcy judge for its Chapter 11 reorganization plan, which includes consensual third-party releases.
Zachry Holdings Inc., the insolvent former general contractor for a major liquefied natural gas project, will pay $7 million to settle a WARN Act lawsuit that was launched after the company laid off more than ... (more story)
The Office of the U.S. Trustee urged a Texas bankruptcy court to reject Digital Media Solutions' proposed Chapter 11 plan, arguing it unlawfully includes nonconsensual third-party releases violating the Bankru... (more story)
A New Jersey federal magistrate judge has denied a credit reporting agency's bid to depose four U.S. Securities and Exchange Commission attorneys and to compel the production of their witness interview notes i... (more story)