Mid Cap

  • May 09, 2024

    Syracuse Diocese Creditors Urge Contempt On Insurer Leaks

    Unsecured creditors of the bankrupt Roman Catholic Diocese of Syracuse have asked a New York judge to hold insurers Interstate and an affiliate of Allianz in contempt for sharing confidential sex abuse survivors' claim information with third parties and failing to inform the debtor or the court.

  • May 09, 2024

    Judge Will OK Chicken Co.'s $7M Ch. 7 Sale

    A Delaware bankruptcy judge on Thursday agreed to grant the liquidation trustee for a defunct poultry producer approval to sell the company's assets to a competitor for $7.1 million, overruling a limited objection from another company that holds a lien on one of the debtor's properties.

  • May 09, 2024

    Five Retailers That May Face Bankruptcy In 2024

    Clothing stores, a discount retailer and a prominent fabrics business have already filed for bankruptcy protection this year, each struggling in their own way in the post-pandemic economy. Here are five more companies that may be at risk of filing for bankruptcy in 2024.

  • May 09, 2024

    Texas Court Urged To Keep Alive Judge Romance Suit

    In a flurry of filings, a former shareholder in an engineering company has pushed a Texas federal court to reject bids to throw out his lawsuit over an ex-bankruptcy judge's secret relationship with a former Jackson Walker LLP attorney.

  • May 09, 2024

    Apnea Device Maker ProSomnus Gets OK For Ch. 11 Loan

    A Delaware bankruptcy judge Thursday gave sleep apnea device maker ProSomnus interim permission to tap into $13 million in Chapter 11 financing to fund the company through what it says will be the end of its case in August.

  • May 09, 2024

    Sam Ash Music Hits Ch. 11, Plans To End 100-Year Retail Run

    Sam Ash Music, a 100-year-old music instrument retailer, filed for Chapter 11 protection in New Jersey bankruptcy court with up to $500 million in debt and plans to close its 42 stores in the U.S., citing weakened sales as customers shifted to online shopping during the COVID-19 pandemic.

  • May 08, 2024

    Meet The Attys For Cybersecurity Firm Appgate's Ch. 11

    A team of attorneys from Kirkland & Ellis LLP and Cole Schotz PC are representing technology firm Appgate Inc. in its Chapter 11 bankruptcy in Delaware, which began Monday roughly three years after its initial public offering backed by $1 billion in investments.

  • May 08, 2024

    Appgate To Get Interim OK To Tap $8M Of $18M DIP

    A Delaware bankruptcy judge Wednesday agreed to give interim approval for technology firm Appgate Inc. to tap $8 million of its debtor-in-possession financing to fund its way through its prepackaged bankruptcy.

  • May 08, 2024

    NY AG Says $6M NRA Verdict Should Stand

    A New York state court should not undo a jury's finding that the National Rifle Association allowed its officers to misappropriate $6.4 million of donor money, the state's attorney general has argued, saying trial evidence abundantly laid out evidence of misconduct and organizational failures.

  • May 08, 2024

    Bill To Undo SEC Crypto Accounting Bulletin Passes House

    Lawmakers in the U.S. House of Representatives on Wednesday voted to overturn the U.S. Securities and Exchange Commission's controversial cryptocurrency accounting guidance despite protests from Democrats to take a more targeted approach to amend the directive and a White House pledge to veto the bill.

  • May 08, 2024

    Biotech Co. NanoString Seeks Vote On Updated Ch. 11 Plan

    Seattle-based life sciences firm NanoString Technologies Inc. has asked a Delaware bankruptcy judge to let it send its amended Chapter 11 liquidation and wind down plan, which would use money from the $393 million sale of its business to repay nearly all creditors, out for a vote.

  • May 08, 2024

    Arbitration Costs Stymie Eletson Holdings Ch. 11 Fee Deal

    A dispute over professional fee applications in the Chapter 11 case of shipping company Eletson Holdings was largely resolved Wednesday in a New York bankruptcy court, but questions about fees incurred by lawyers working on an arbitration action outside of bankruptcy kept a final resolution at bay.

  • May 08, 2024

    Hurricane Ads Suit Paused For Law Firm Amid Ch. 11 Case

    In light of its recent bankruptcy filing, a Texas federal judge has paused class claims against a beleaguered Texas law firm accused of misconduct in soliciting clients in hurricane-related property damage cases, but the case remains active against a legal funding outfit and other defendants.

  • May 08, 2024

    Icon Aircraft Gets OK For June Auction After Shareholder Deal

    A Delaware bankruptcy judge Wednesday gave final approval to Icon Aircraft's $9 million in Chapter 11 financing and a June asset auction after the light-sport aircraft maker said it had resolved objections by shareholders who say Icon may be headed for a sale to an insider.

  • May 08, 2024

    Sleep Apnea Co. Hits Ch. 11 Over $41.5M In Debt, Cash Woes

    California-based ProSomnus, which produces devices to prevent sleep apnea, said a balance sheet heavy with more than $41.5 million in debt and difficulty in funding its continued operations forced it to file for Chapter 11 protections in Delaware.

  • May 07, 2024

    SEC Says Morrison Can't Save Terraform From Disgorgement

    The U.S. Securities and Exchange Commission said bankrupt crypto firm Terraform Labs should remain on the hook for potentially $3.6 billion in disgorgement over its fraud trial loss, saying any claims that its unregistered transactions took place beyond the court's reach are undermined by the agency's congressional authority.

  • May 07, 2024

    Real Estate Co. Says Privilege, Immunity Don't Protect Trustee

    A real estate company says a Chapter 7 trustee overseeing a Connecticut woman's personal bankruptcy cannot invoke the doctrine of qualified immunity or assert a litigation privilege to avoid being countersued for trying to stop a home sale the trustee considered fraudulent.

  • May 07, 2024

    Pear Therapeutics Ch. 11 Liquidation Plan Confirmed

    A Delaware bankruptcy judge said at a hearing Tuesday that he would confirm the Chapter 11 liquidation plan for software-based medicine venture Pear Therapeutics after it sold most of its assets and reached a settlement with former employees.

  • May 07, 2024

    NYC Eatery Asks 2nd Circ. To Undo Revival Of Workers' Suit

    A New York City restaurant operator urged the Second Circuit Tuesday to reject a lower court finding that its workers' federal wage claims may be cut from their class action but can also be reinstated if the appeals court were to vacate their state wage claims, insisting the decision is unfair.

  • May 07, 2024

    Battery Developer Ambri Can Tap $3.75M Of Ch. 11 Financing

    Battery start up Ambri Inc. can access the first $3.75 million leg of a debtor-in-possession loan funded by its creditors, including firms owned by Bill Gates and hedge fund billionaire John Paulson, after a Delaware bankruptcy judge Tuesday agreed to interim approval but expressed skepticism over final terms of the DIP package.

  • May 07, 2024

    Gronk, Others To Pay $2.4M In Voyager Crypto Promoter Suit

    Retired football star Rob Gronkowski, NBA player Victor Oladipo and NASCAR driver Landon Cassill have agreed to collectively pay $2.4 million to settle allegations they helped promote failed cryptocurrency exchange Voyager Digital Holdings Inc.

  • May 07, 2024

    Judge Rips 2nd Circ.'s 'Erroneous' Ruling In Sears Lease Spat

    A New York federal district judge ruled that Sears Holdings Corp.'s lease for the Mall of America in Minneapolis should be returned to the bankrupt retail chain's liquidating trustee, saying that the decision gives "scant comfort" as it removed from the books "an obviously outlier ruling" by the Second Circuit.

  • May 06, 2024

    Crypto Platform's Ex-Brass Charged With $783M Fraud

    Three former executives behind bankrupt cryptocurrency investment platform Cred Inc. face wire fraud and money laundering charges after they allegedly lied to customers about the firm's lending and investing practices ahead of a collapse prosecutors say wiped out $783 million in customer crypto.

  • May 06, 2024

    Icon Aircraft Investors Seek To Halt Proposed Ch. 11 Sale

    A group of Icon Aircraft investors seeking to file legal claims against the company's Chinese majority equity holder asked a Delaware bankruptcy judge Monday to halt the company's proposed sale, saying the proposed stalking horse bidder is indirectly controlled by the current majority holder.

  • May 06, 2024

    Subchapter V Bankruptcies Up 60% In April As Costs Weighed

    More small companies filed for Chapter 11 bankruptcy under Subchapter V in April, according to new data, as higher costs for everything from raw materials to loans and insurance continued to hit struggling businesses.

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