Large Cap
-
October 08, 2024
Mass. Seeks Order Forcing Steward To Maintain Coverage
Massachusetts officials are asking the Texas bankruptcy judge presiding over Steward Health Care's Chapter 11 proceedings to order the company to maintain medical malpractice and workers' compensation coverage for current and potential claims from its operation of hospitals and medical practices in the Bay State.
-
October 08, 2024
Celsius Says It Sent Out $2.6B To Creditors In Crypto, Cash
Celsius Network reported that the reorganized debtor has now distributed a total of $2.57 billion to creditors and customers in both cash and cryptocurrency, meaning more than two-thirds of creditors have received a recovery.
-
October 08, 2024
Wiggin Adds Restructuring Practice Chair In NY
Wiggin and Dana LLP said Tuesday that it has hired a partner to chair the firm's newly organized restructuring practice in New York, as well as a new special counsel for that group.
-
October 07, 2024
Attys Want $20M Fees For Netting $64M Tuna Price-Fixing Deal
Attorneys representing a class of purchasers who sued several canned tuna producers have asked a California federal judge for nearly $20 million in fees and costs associated with their recently inked $64 million settlement, saying the award is fair considering the effort the case took to prosecute and the complexity of the deal.
-
October 07, 2024
Fed. Circ. Questions If Safer OxyContin Profits Came From IP
An attorney for Purdue Pharma didn't seem to find much purchase at the Federal Circuit on Monday as he argued that the company's patents for abuse-deterrent OxyContin weren't obvious, claiming other companies had ample opportunity to reach a solution and failed to do so.
-
October 07, 2024
FTX Gets OK For Ch. 11 Plan After Objections Overruled
A Delaware bankruptcy judge said he would confirm the Chapter 11 reorganization plan of FTX Trading Ltd. after overruling several objections Monday, beginning a process of distributing billions of dollars to customers less than two years after the cryptocurrency exchange collapsed.
-
October 07, 2024
FTX Wins Plan Approval, Diamond Sports Drops MLB Deals
FTX will start repaying customers using up to $16.5 billion in assets that the fallen cryptocurrency company has recovered since filing for bankruptcy in November 2022, after a Delaware bankruptcy judge blessed FTX's reorganization plan at a hearing Monday.
-
October 07, 2024
Tupperware Delays Conversion Hearing For More Ch. 11 Talks
Bankrupt food storage product maker Tupperware told a Delaware judge on Monday that it is engaged in discussions with an ad hoc group of lenders seeking dismissal or conversion of the company's Chapter 11 case, and pushed back a potentially case-ending hearing to continue those negotiations.
-
October 07, 2024
US Trustee Pans Guo Ch. 11 Trustee's Secret Deal For Firm
The U.S. Trustee's Office on Monday objected to a Chapter 11 trustee's attempt to file under seal a deal with a law firm in the sprawling $374 million bankruptcy of convicted Chinese exile Miles Guo, saying voluminous case law prevents shrouding such settlements with secrecy.
-
October 07, 2024
Feds Seek Tape, Allege Witness Tampering In WeWork Case
Prosecutors asked Sunday to subpoena a recording of an incident in which they say a former investment firm CEO who is accused of making a fraudulent offer for WeWork shares had improper contact with a witness expected to testify at the ex-CEO's upcoming trial.
-
October 04, 2024
SEC Says It's Investigating Bankrupt EV Maker Fisker
The U.S. Securities and Exchange Commission said Friday that it's been looking into whether electric-car maker Fisker Inc. violated securities law before it filed for Chapter 11 protection, urging a Delaware federal bankruptcy judge not to approve Fisker's proposed liquidation plan.
-
October 04, 2024
FTX Seeks To Push Ch. 11 Plan Over Final Hurdles
Nearly two years after it collapsed financially, FTX is hoping to secure confirmation of its Chapter 11 plan in Delaware bankruptcy court Monday. The debtor says that under its proposal, the company will repay former customers in full, with interest, for the billions of dollars they lost, but the insolvent cryptocurrency business faces a slew of objections from the U.S. Trustee's Office and others.
-
October 04, 2024
MLB's Storied History Runs Through The Bankruptcy Court
With the value of professional sports teams skyrocketing over the last decade, it's hard to imagine a Major League Baseball club having to file for bankruptcy. But it's happened at least five times since 1970 for a variety of reasons, and the teams that have taken advantage of the bankruptcy courts have charted much different paths post-insolvency.
-
October 04, 2024
Prison Health Co., Creditors Float Ch. 11 Plan With $50M Trust
Tehum Care Services, a prison healthcare provider, and committees for its unsecured creditors and tort claimants have asked a Texas bankruptcy judge to let them solicit votes on a Chapter 11 plan that would allow creditors to either pursue wrongful death and personal injury claims in state court or become the beneficiaries of a $50 million settlement trust.
-
October 04, 2024
Robertshaw Closes Ch. 11 Sale Hours Before 5th Circ. Stay
Appliance parts maker Robertshaw sold the business to a group of its lenders this week, less than two hours before the Fifth Circuit entered an order staying the deal, marking a setback for Invesco, another lender that had objected to a Texas bankruptcy court's approval of the Chapter 11 asset sale.
-
October 04, 2024
Fried Frank Guides ArentFox Schiff HQ Move In DC
ArentFox Schiff LLP is relocating its Washington, D.C., headquarters to Carr Properties' Midtown Center, where it will take up 120,000 square feet and three full floors, per the landlord who was advised by Fried Frank Harris Shriver & Jacobson LLP.
-
October 04, 2024
Ex-Judge Jones Says Judicial Acts Bar Atty Romance Claims
Former bankruptcy judge David R. Jones said judicial immunity bars claims over his undisclosed romantic relationship with a former Jackson Walker LLP attorney because the purported harm to the onetime head of a now-shuttered barge company stemmed from official acts.
-
October 04, 2024
Ex-Skadden Partner Leaves Retirement, Joins AY Strauss
Commercial real estate boutique A.Y. Strauss announced Thursday that it had hired a former Skadden Arps Slate Meagher & Flom LLP litigator who is returning to the legal field after retiring in 2020.
-
October 03, 2024
Biden Admin's Latest Debt Relief Plan Blocked In Missouri
A Missouri federal judge Thursday blocked the Biden administration's latest student debt relief proposal, finding that the six Republican-led states leading the challenge will likely show the plan is unlawful, just a day after a Georgia federal judge knocked the Peach State out and punted the case to St. Louis.
-
October 03, 2024
Meet The Attys Aiding FTX At Its Ch. 11 Confirmation Hearing
Beleaguered crypto exchange FTX Trading Ltd. will seek a Delaware bankruptcy judge's approval Monday for the debtor's Chapter 11 plan after a bankruptcy process that has seen its counsel questioned, the legitimacy of its plan challenged and a bevy of disputes settled. At the hearing it will rely on the expertise of a legal team uniting lawyers from Landis Rath & Cobb LLP and Sullivan & Cromwell LLP.
-
October 03, 2024
Wash. AG Wants Albertsons Sanctioned In Opioid Suit
Washington state's attorney general has accused Albertsons of using a state-court-ordered stay to shield itself from discovery in a consumer protection suit that accuses Rite Aid and grocery store pharmacies of exacerbating the opioid epidemic, seeking the appointment of a "discovery referee" in a new sanctions motion.
-
October 03, 2024
Conn's Seeks OK For $360M Bid From Debt Collector
Retail chain Conn's has asked a Texas bankruptcy judge for permission to accept a $360 million baseline bid to purchase its assets, including the company's portfolio of consumer installment loans, from debt collector Jefferson Capital Systems LLC.
-
October 03, 2024
Calif. Can't Delay Bank's $20.7M Tax Refund, FDIC Tells Court
A California tax collection agency shouldn't be allowed to delay a $20.7 million tax refund it owes the shuttered Signature Bank, the Federal Deposit Insurance Corp. told a New York federal court, saying that as the bank's receiver, it's entitled to the money now.
-
October 03, 2024
Steward Health Gets OK To Sell 3 Arizona Hospitals
A Texas bankruptcy judge on Thursday approved national hospital chain Steward Health's sale of three of its Arizona hospitals to regional hospital chain HonorHealth.
-
October 02, 2024
Incora Creditor, Platinum Feud Over Injury In 2022 Uptier Deal
A bondholder to aircraft-parts supplier Incora on Wednesday urged a Texas bankruptcy judge to recognize its tortious interference claims against the company's private equity backer, Platinum Equity, arguing it suffered damages after being demoted in a 2022 financing deal.