Large Cap

  • June 03, 2024

    Hello Judges, Goodbye Refs: 1970s Changes To Bankruptcies

    Imagine taking your client's insolvent company to a referee instead of a judge, or not having creditors grill you in a 341 meeting — or not having a creditors committee at all. That was the case before the 1970s ushered in the most sweeping changes to U.S. bankruptcy law and practice in 80 years.

  • June 03, 2024

    Sandy Hook Families Seek To Liquidate Alex Jones' Media Co.

    Creditors of right-wing conspiracy theorist Alex Jones' media company Free Speech Systems have asked a Texas bankruptcy judge to convert its Chapter 11 to a Chapter 7, saying liquidation is the only realistic route for creditors to get paid as the separate bankruptcies of the InfoWars parent and Jones near their close.

  • June 03, 2024

    Yellow Corp. Gets Another 3 Months To Control Ch. 11 Case

    Trucking firm Yellow Corp. received a new 90-day extension of the period during which it has the exclusive right to file a Chapter 11 plan, with a Delaware bankruptcy judge ruling Monday the debtor should be given more time to pursue its reorganization goals, which have thus far resulted in the full repayment of its funded debt.

  • June 03, 2024

    Judge Says It's Time For DIP Deal For Steward Healthcare

    A Texas bankruptcy judge on Monday gave Steward Health Care permission to offer a commitment fee to induce a lender to provide it with the financing to see the hospital chain through its Chapter 11 case, while saying the company needs that final commitment soon.

  • June 03, 2024

    WeWork Plan Approval, Crypto Update, Giuliani Creditor Fight

    Office space provider WeWork's plan to wipe out $4 billion in debt and end its Chapter 11 case was approved, defunct crypto lending platform Genesis Global Holdco LLC expects to exit bankruptcy in July and the official committee of unsecured creditors in Rudy Giuliani's Chapter 11 has asked a New York bankruptcy judge to hand control of the Republican firebrand's estate to a trustee.

  • June 03, 2024

    Rite Aid Says Elixir Buyer On Hook For $225M In Liabilities

    Rite Aid alleged the buyer of its prescription benefits subsidiary is trying to dodge $225 million of liabilities that were part of the sale closed in February, and asked a New Jersey bankruptcy judge to find that the stalking-horse bidder agreed to take on the disputed debt as part of their $577 million deal.

  • June 03, 2024

    Catching Up With Delaware's Chancery Court

    Delaware's Court of Chancery pushed out tons of decisions last week, along with a second round of new rules and letters of concern over pending changes to the state's corporate law code. The court's docket was as busy as ever, with new cases involving Tesla CEO Elon Musk, FTX cryptocurrency claims, and more. In case you missed it, here's the latest from Delaware's Chancery Court.

  • June 03, 2024

    Nursing Home Co. LaVie Hits Ch. 11 In Ga. With $1.1B Debt

    Nursing home operator LaVie Care Centers LLC hit Chapter 11 on Monday in Georgia with $1.1 billion in debt, saying it has not been able to recover from the COVID-19 pandemic.

  • June 03, 2024

    High Court Won't Hear Arguments On Madoff Clawback Math

    The U.S. Supreme Court on Monday declined to hear arguments by an investor in Bernie Madoff's Ponzi scheme for overturning a Second Circuit decision on how to calculate the amount of investor withdrawals that can be clawed back to the Madoff bankruptcy estate.

  • June 03, 2024

    Paul Hastings Adds 11-Partner King & Spalding Finance Team

    Continuing its hiring in the finance and restructuring space, Paul Hastings LLP announced Monday that it is bringing on a team of 11 partners from King & Spalding LLP, including the co-head of the global finance and restructuring practice.

  • May 31, 2024

    Girardi Not Famous Like Avenatti, Feds Say In Panning Jury Form

    Prosecutors pushed back Friday on Tom Girardi's request to ask prospective jurors in his California federal fraud trial if they have seen his wife's television show or reports about his law firm's scandal, saying Girardi's fame is not similar to convicted attorney Michael Avenatti's, whose case included a written juror questionnaire.

  • May 31, 2024

    Clothing Retailer Express Delays Speedy Ch. 11 Auction

    Clothing retailer Express Inc. said Friday that it will delay a Chapter 11 auction it was hoping to host next week after a Delaware bankruptcy judge said she couldn't sign off on a speedy auction timeline or give final approval to the company's connected debtor-in-possession package until she saw more evidence to back them up.

  • May 31, 2024

    Jilted FTX Claim Buyer Sues Crypto Trader In Chancery

    An affiliate of Connecticut hedge fund Silver Point Capital has sued a crypto trading firm and a buyer of FTX bankruptcy claims in Delaware Chancery Court, alleging that they breached a sale agreement for "a highly unique and lucrative customer claim" with a face value of $10 million in the FTX bankruptcy case.

  • May 31, 2024

    Byju's Seeks $10K Sanctions For Ex-Exec Found In Contempt

    The bankrupt U.S. affiliate of Indian education tech giant Byju's told a Delaware judge that a former executive should face $10,000 in daily sanctions until he shares information about the location of $533 million in debtor funds.

  • May 31, 2024

    Beasley Allen Wants J&J Subpoenas Nixed Amid Ethics Fight

    The Beasley Allen Law Firm and a plaintiff steering committee in the Johnson & Johnson talc litigation blasted subpoenas directed at the firm and others aimed at turning up evidence of an alleged scheme to muster opposition to J&J's latest $6.5 billion bankruptcy plan.

  • May 31, 2024

    Spencer Fane Adds Minneapolis Bankruptcy Partner

    Spencer Fane LLP has added a bankruptcy partner from Stinson LLP to its Minneapolis office.

  • May 31, 2024

    WeWork's Winding Road Through Bankruptcy Court

    Office space provider WeWork won approval for its $4 billion Chapter 11 reorganization plan Thursday, overcoming opposition from landlords, unsecured creditors and its own founder to emerge debt-free under new equity ownership. 

  • May 31, 2024

    Disbarring Giuliani Would 'Protect The Public,' DC Panel Says

    A Washington, D.C., attorney ethics panel agreed Friday that Rudy Giuliani's role in former President Donald Trump's attempt to overturn Pennsylvania's presidential election in 2020 amounted to misconduct "of the utmost seriousness," and that disbarring him would "protect the public, the courts, and the integrity of the legal profession."

  • May 30, 2024

    5 Facts To Know As Alex Jones' Ch. 11 Reckoning Approaches

    Right-wing conspiracy theorist Alex Jones and his media company Free Speech Systems will be seeking approval of their respective Chapter 11 plans in mid-June, and the Texas judge overseeing the proceedings has said the cases could also face conversion to Chapter 7 liquidation or outright dismissal.

  • May 30, 2024

    Weiss Fund Survives Motion To Convert To Ch. 7

    A New York judge shot down a bid by two financial firms, Jefferies and Leucadia, to convert the Chapter 11 case of Weiss Multi-Strategy Advisers LLC to Chapter 7, saying that it is premature to determine several components of the issue.

  • May 30, 2024

    Rite Aid Ch. 11 Timeline Extended To Allow More Plan Review

    A New Jersey judge on Thursday lengthened the timeline for Rite Aid to seek an exit from its Chapter 11 bankruptcy, pushing the confirmation hearing date out by seven days after insurers and others said the company's schedule would not provide enough time to review its restructuring plan.

  • May 30, 2024

    Terraform, SEC Reach 'Settlement In Principle' In Crypto Case

    Crypto firm Terraform Labs and its creator Do Kwon appear to have reached an agreement with the U.S. Securities and Exchange Commission to settle remedies after the firm and its founder were held liable for fraud by a Manhattan jury.

  • May 30, 2024

    Crypto Lender Genesis On Track To Exit Ch. 11 In July

    Attorneys for Genesis Global Holdco LLC told a New York bankruptcy judge Thursday that the defunct crypto lending platform expects to exit bankruptcy in July and has laid groundwork to help it quickly kick off creditor distributions under its liquidation and wind down Chapter 11 plan.

  • May 30, 2024

    Invitae Ch. 11 Creditor Standing Issue Sent To Mediation

    A New Jersey bankruptcy judge on Thursday referred to mediation a motion from Invitae Corp.'s unsecured creditors seeking standing to bring actions on behalf of the debtor's estate, explaining that while he is able to decide on the matter, he hoped to avoid the costs of litigating the question.

  • May 30, 2024

    WeWork Gets OK For $4B Chapter 11 Plan

    A New Jersey bankruptcy judge on Thursday approved office space provider WeWork's plan to wipe out $4 billion in debt and end its Chapter 11 case after hearing there were no remaining creditor objections.

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