Large Cap

  • May 17, 2024

    ConvergeOne Lenders Cite 'Exclusivity' Of Ch. 11 Equity Deal

    A group of ConvergeOne lenders asked a Texas bankruptcy judge Friday to reject the information technology company's prepackaged Chapter 11 plan, saying an equity rights offering underpinning the proposal unfairly excludes its members.

  • May 17, 2024

    Healthcare Co. Sues Steward In Ch. 11 Over Military Contract

    A healthcare company that provides services to members of the military and their families sued debtor Steward Health Care on Thursday in Texas bankruptcy court, asking a judge there to declare that the provider properly terminated a subcontract with Steward due to its declining financial state.

  • May 17, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen a wave of claims filed against Verity Trustees Ltd., Harley-Davidson hit retailer Next with an intellectual property claim, Turkish e-commerce entrepreneur Demet Mutlu sue her ex-husband and Trendyol co-founder Evren Üçok and the Solicitors Regulation Authority file a claim against the former boss of collapsed law firm Axiom. Here, Law360 looks at these and other new claims in the U.K.

  • May 17, 2024

    Cano Health Strikes $7M Deal With Unsecured Creditors

    A Delaware bankruptcy judge said Friday that she was prepared to send Cano Health Inc.'s Chapter 11 plan out for a creditor vote after hearing the medical care group has reached a $7 million settlement with its unsecured creditors.

  • May 17, 2024

    'We Feel It': NJ Ranks 2nd In Ch. 11 Cases, Chief Judge Says

    New Jersey federal courts saw the second most Chapter 11 bankruptcy filings in the nation over the last year, Chief U.S. District Judge Renée Marie Bumb of the District of New Jersey said on Friday.

  • May 16, 2024

    Convicted Insurance Mogul Says He'll Trim Empire

    Convicted insurance mogul Greg Lindberg told the North Carolina Supreme Court he's relinquishing control of portions of his enterprise to fulfill a deal to restructure them with independent oversight, according to court filings.

  • May 16, 2024

    NJ Judge Scrutinizes J&J Unit's Libel Claim Over Talc Study

    A bankrupt Johnson & Johnson unit's libel claims over a scientific article linking talcum powder to mesothelioma intrigued a New Jersey federal judge during an oral argument on Thursday, prompting her to muse that the author's consideration of other exposures seemed to bolster the study at issue.

  • May 16, 2024

    3 Big Bankruptcy Cases Still Pending At The Supreme Court

    The U.S. Supreme Court may have declined to hear a challenge to non-debtor litigation stays in mass tort bankruptcies this week in the Chapter 11 case of Georgia-Pacific's asbestos spinoff, but it is still slated to hand down decisions with the potential for wide-reaching impacts to mass torts and beyond this term.

  • May 16, 2024

    SVB Parent Resolves Objections To Ch. 11 Plan Disclosures

    SVB Financial Group, the former parent company of Silicon Valley Bank, told a New York bankruptcy judge Thursday that it had resolved outstanding objections to its Chapter 11 plan disclosure statement and was ready to move forward with a sale of its investment arm.

  • May 16, 2024

    DOL Unveils Long-Delayed Abandoned Retirement Plan Rules

    After being sidelined for more than a decade, a plan for expanding U.S. Department of Labor rules for terminating retirement plans abandoned by employers are moving forward again, the agency reported Thursday, along with a long-delayed role in the process for bankruptcy trustees.

  • May 15, 2024

    MLB, NHL, NBA Doubt Bally Sports Parent Can Reorganize

    The bankrupt parent of Bally Sports-branded regional sports networks touted the extension of a carriage contract with DirecTV Wednesday in Texas bankruptcy court, at the same time that the parent company's partners in major American sports leagues expressed skepticism about its ability to successfully reorganize.

  • May 15, 2024

    News Media Don't Want FTX Examiner's Report Sealed

    Major news media companies asked a Delaware bankruptcy judge to ensure that an examiner's report into crypto giant FTX's downfall is not filed under seal, arguing that a proposed redaction process runs counter to the court's previous order, a Third Circuit decision and the public interest.

  • May 15, 2024

    Ollie's Can Make $14.6M Stalking-Horse Bid For 99 Cents Only

    Discount retail chain 99 Cents Only received approval Wednesday from a Delaware bankruptcy judge for a $14.6 million stalking-horse bid for 11 of its properties in Texas from Ollie's Bargain Outlet Inc., another discount retailer.

  • May 15, 2024

    NY Diocese, Abuse Claimants Sent To Ch. 11 Plan Talks

    A New York bankruptcy judge Wednesday sent the Roman Catholic Diocese of Rockville Centre and clergy sex abuse claimants back into mediation rather than grant the diocese's request to dismiss the case after the abuse claimants rejected its Chapter 11 plan.

  • May 15, 2024

    Celsius Data Leak Highlights Privacy Puzzle In Crypto Ch. 11s

    A recent phishing attack that exposed personal information of 104,000 creditors in Celsius Network's Chapter 11 case has thrown fresh light on a vexing question for bankruptcy courts across the country: how to balance cryptocurrency companies' insistence on anonymity with bankruptcy's principle of transparency.

  • May 15, 2024

    Ex-FTX Exec Seeks Leniency, Saying He Was Kept In The Dark

    A former top FTX official has asked a Manhattan federal judge for a lenient 18-month sentence, saying he was not part of company co-founder Sam Bankman-Fried's inner circle and was as shocked as everyone else to learn that the crypto exchange was operating a fraud that siphoned billions in customer funds.

  • May 14, 2024

    5th Circ. Nixes Catholic Abuse Claimants' Ch. 11 Appeal

    Sex abuse claimants removed from a Catholic archdiocese's bankruptcy unsecured creditors committee don't have grounds for an appeal because they couldn't show the removal was a sanction on them that cost the claimants anything, the Fifth Circuit said.

  • May 14, 2024

    BlockFi Ch. 11 Judge Keeps Insurance Fight In State Court

    The judge overseeing the bankruptcy of cryptocurrency venture BlockFi Inc. ruled a fight over a $22.5 million premium for a directors and officers insurance policy should stay in New Jersey state court, saying the suit largely did not violate BlockFi's Chapter 11 plan.

  • May 14, 2024

    5 Retail Industry Questions For A Restructuring Expert

    Major headwinds have been hitting the retail industry for some time and have already blown major brand names like Express Inc., Joann Inc. and Sam Ash Music Corp. into Chapter 11.

  • May 14, 2024

    Stretto Says Data Leak Spread Beyond Celsius Case

    A New York bankruptcy judge expressed alarm Tuesday after Stretto disclosed that a data breach in the Chapter 11 of Celsius Network last month had affected creditors in additional cases, warning the claims agent he would bar it from working on cases he oversees if it fails to properly deal with the cyberattacks.

  • May 14, 2024

    FTX Wants Calif. Org To Return $5M In Donations

    FTX has filed an adversary claim in its Chapter 11 case seeking to claw back roughly $5 million in prepetition charitable donations given to a Berkeley, California, nonprofit, which the company said was supported by its founder Sam Bankman-Fried and other insiders of the onetime cryptocurrency giant.

  • May 14, 2024

    Sullivan & Cromwell Seeks To Ax Claims Of Aiding FTX Fraud

    Sullivan & Cromwell LLP wants a Florida federal court to dismiss a proposed class action alleging the firm knew about and helped facilitate the massive fraud by FTX, saying customers of the cryptocurrency exchange platform fail to claim anything beyond a "series of speculative allegations with no factual basis."

  • May 14, 2024

    Jackson Walker Wants Out Of Texas Judge Romance Suit

    Law firm Jackson Walker told a Texas federal court it wants out of a lawsuit accusing it of harming a tug boat company whose case was pending before a bankruptcy judge engaged in a romantic relationship with a firm attorney.

  • May 14, 2024

    Frost Brown Gains V&E Bankruptcy Ace In Dallas

    Frost Brown Todd LLP has fortified its bankruptcy and restructuring practice with a partner in Dallas who came aboard after more than 16 years at Vinson & Elkins LLP.

  • May 13, 2024

    Kabbage Inks 2 FCA Deals With Feds Totaling $120M

    Bankrupt online lender Kabbage Inc. has agreed to pay $120 million in two separate deals to resolve allegations it submitted thousands of false claims for loan forgiveness and operated without adequate fraud controls in place, the U.S. Department of Justice announced Monday.

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