ABI President Chris Ward Talks Fees, Purdue Pharma, Phillies
Small Biz Ch. 11s, Student Loans Topics Of NACBA Meeting
Benefytt Successor Pursues Del.'s Bankruptcy Alternative
ABI President Chris Ward Talks Fees, Purdue Pharma, Phillies
Chris Ward of Polsinelli LLP, the new president of the American Bankruptcy Institute, expects high interest rates to continue dogging debt-laden companies this year. He's also skeptical a U.S. Supreme Court decision limiting nonconsensual releases in the bankruptcy case of Purdue Pharma LP would radically alter third parties' ability to get liability shields and thinks Chapter 11 has become too expensive, he told Law360 on Friday.
Small Biz Ch. 11s, Student Loans Topics Of NACBA Meeting
Consumer bankruptcy lawyers have gathered in Colorado Springs, Colorado, to discuss current and emerging issues, challenges and opportunities at the National Association of Consumer Bankruptcy Attorneys' 2024 conference.
Benefytt Successor Pursues Del.'s Bankruptcy Alternative
Three affiliates of Benefytt Technologies have asked Delaware's Chancery Court for assignment for the benefit of creditors, a state-administered restructuring option, with $41 million in unsecured debt and $20 million worth of liens, saying the ripple effects of the health technology company's Chapter 11 drove them under.
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An insurer has urged a Delaware state court to unravel a business conversion by embattled insurance mogul Greg Lindberg, arguing that in converting the company he is illegally attempting to escape paying a $580 million award.
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Republic First Bank, a roughly $6 billion bank based in Philadelphia, was shuttered Friday by Pennsylvania state banking regulators and sold to Fulton Bank NA, capping off a prolonged decline that only worsene... (more story)
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Joann Inc., parent company of retailer Joann Fabric and Crafts, received a Delaware judge's approval of its prepackaged Chapter 11 plan Thursday that will lighten its debt load by $505 million.
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Mid Cap More
Rudy Giuliani asked a New York bankruptcy judge on Friday for permission to move forward with an appeal of a $148 million defamation award to two Georgia poll workers he accused of committing ballot fraud.
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A Delaware bankruptcy judge said Friday that she would approve the $32.25 million sale of Casa Systems Inc.'s cloud and radio access network unit after an auction more than doubled the winner's initial offer f... (more story)
Oregon-based Umpqua Bank has asked a San Francisco federal judge to toss claims that it aided and abetted a $250 million real estate Ponzi scheme, arguing the investors who brought the suit saw that their fund... (more story)
A Manhattan judge on Friday threw out a claim that the general counsel for rapper Curtis "50 Cent" Jackson illegally recorded a former Beam Suntory Inc. sales contractor during an embezzlement investigation, b... (more story)
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The bankrupt owners of several Manhattan apartment buildings asked a New York federal bankruptcy court to approve the settlement of the claims of rent-striking tenants, the tenants' debt and a related adversary proceeding.
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A federal judge has rejected Philadelphia-based firm Sacks Weston LLC's plan to become solvent and dismissed its bankruptcy petition this week, saying the firm's financial decline is likely to continue.
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