Mid Cap

  • June 04, 2024

    Rounding Up This Week's 4 New Midcap Bankruptcies, So Far

    Delaware's bankruptcy court has fielded a quartet of new midcap bankruptcy cases this week across a diverse range of industries from cloud technology company CalAmp Corp. to a solar energy provider and an agricultural services firm aimed at extending the shelf life of fresh produce.

  • June 04, 2024

    DMK Pharma Sues Drug Co. It Claims Helped Drive It To Ch. 11

    Drug developer DMK Pharmaceuticals has asked a Delaware bankruptcy judge to award it $328.7 million from pharmaceutical company US WorldMeds LLC, saying USWM didn't properly market an opioid-overdose intervention product, resulting in slow sales and driving DMK to Chapter 11.

  • June 04, 2024

    Casa Systems Gets OK On $45.1M Cable Sale, Ch. 11 Plan

    A Delaware bankruptcy judge on Tuesday approved communications equipment company Casa Systems Inc.'s $45.1 million sale of its cable assets and Chapter 11 plan, enabling the debtor to complete a wind-down process and end its bankruptcy case.

  • June 04, 2024

    Anderson Kill Adds Leaders For Financial Litigation Team

    Anderson Kill PC has found the leaders of its financial litigation and complex disputes practice group in two attorneys from BraunHagey & Borden LLP.

  • June 04, 2024

    Icon Aircraft Gets OK For Creditor Vote On Ch. 11 Plan

    A Delaware bankruptcy judge has given Icon Aircraft permission to send its Chapter 11 plan out for a creditor vote after the light-aircraft maker said objecting shareholders have agreed to save their arguments against the plan until after the vote.

  • June 03, 2024

    Solar Energy Co. Files Ch. 11 After Executive Shuffle

    Vermont-based solar energy firm iSun Inc. filed for Chapter 11 bankruptcy on Monday in Delaware bankruptcy court weeks after announcing the replacement of its chief executive officer and chief financial officer.

  • 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

    4 Mass. Rulings You Might Have Missed In May

    Massachusetts state court judges rejected a law firm's effort to fight malpractice claims by pointing the finger at a Rhode Island judge, and ruled that an online booking platform can boot the owner of Bali vacation villas from its site, among other under-the-radar decisions handed down in May.

  • 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

    Herrick Feinstein Guides Hotel From Lease Suit To $177M Sale

    What began as a simple commercial lease action tied to a swanky hotel in New York City morphed into a complex adversary proceeding, which a Herrick Feinstein LLP team recently brought to a close, paving the way for the property's $177 million sale to EOS Hospitality.

  • 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

    Common Co-Living Company Files For Ch. 7 Liquidation

    The co-living company Common, which aimed to modernize apartment rentals and merged with Germany's venture backed Habyt in January 2023, filed for Chapter 7 liquidation in Delaware, listing between $10 million and $50 million of liabilities.

  • June 03, 2024

    Cloud Tech Co. CalAmp Hits Ch. 11 For Debt Equity Swap

    California-based cloud technology developer CalAmp Corp. filed for Chapter 11 bankruptcy on Monday in Delaware bankruptcy court, saying it entered a restructuring deal with lender Lynrock Lake Master Fund LP that would swap approximately $229 million of secured notes into equity interests in the reorganized business.

  • 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

    9th Circ. Affirms Toss Of Health Center's $8M Cigna Row

    The Ninth Circuit on Friday declined to revive a suit from a holding company for a drug and alcohol treatment center claiming Cigna forced it into bankruptcy by not paying more than $8 million in authorized claims, finding the health insurer did not abuse its discretion in denying the payments.

  • May 31, 2024

    Takeoff Technologies Seeks Customer Funds For Ch. 11 Case

    A Delaware bankruptcy judge told Takeoff Technologies on Friday that he was prepared to approve $9.6 million in Chapter 11 financing from customers trying to avoid losing support for the company's grocery inventory automation software.

  • May 31, 2024

    Meet The Attorneys Guiding Grocery Co. Takeoff's Ch. 11

    A team of attorneys from Young Conaway Stargatt & Taylor LLP and Sheppard Mullin Richter & Hampton LLP is guiding grocery automation system maker Takeoff Technologies through its Chapter 11 case in Delaware.

  • May 31, 2024

    NY Appeals Court Backs Trimming Of 50 Cent Liquor Spat

    A New York appeals court has said a lower court rightly dismissed some components of a suit brought by a fine liquors company owned by rapper 50 Cent, allowing Jim Beam and its parent company to escape the rapper's claims they aided a fraud and rejecting his request for punitive damages and attorney fees.

  • May 31, 2024

    IRS Can Seek Tax Beyond Bankruptcy Deal, 11th Circ. Affirms

    A deal between the IRS and an Alabama real estate developer to settle his tax debt for $2 million during Chapter 11 bankruptcy proceedings wasn't final, and the agency can demand additional taxes from him, the Eleventh Circuit affirmed Friday.

  • May 31, 2024

    Lindell No-Shows Amid Solvency Concerns In Sanctions Fight

    Attorneys for My Pillow CEO Mike Lindell were nowhere to be found Friday as a D.C. federal judge mulled how much they should pay in sanctions for counterclaims in election company Dominion's ongoing libel suit, saying he'd likely set an amount in the coming weeks.

  • 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

    Fight Between Trustee, Law Firm May Mean Less For Creditors

    In the bankruptcy of collapsed California debt relief law firm Litigation Practice Group, a new law firm confirmed this week that it's not making payments to the bankruptcy estate, a situation that may limit a bankruptcy trustee's ability to make payments to creditors across the country.

  • May 31, 2024

    DMK Pharma Says Contaminated Injectors Led To Ch. 11 Filing

    Drugmaker DMK Pharmaceuticals Corp. has filed an adversary complaint in Delaware bankruptcy court, saying its epinephrine-injector supplier failed to maintain contaminant-free manufacturing facilities sold to the debtor, which caused one of them to be shut down by federal regulators and ultimately led the company to file for Chapter 11 protection.

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