Mid Cap

  • November 13, 2024

    Judge To Confirm Ambri Ch. 11 Wind-Down Plan

    A Delaware bankruptcy judge Wednesday agreed to approve the Chapter 11 plan of battery company Ambri Inc., which will sell its assets to its lenders and wind down.

  • November 13, 2024

    Sticky's Chicken Gets OK For 3-Year Ch. 11 Plan

    A Delaware bankruptcy judge Wednesday confirmed the Chapter 11 plan of popular New York-area chicken restaurant chain Sticky's that includes a $300,000 equity infusion from existing investors.

  • November 13, 2024

    Catching Up With New Bankruptcy Case Action

    Former used-car retailer Vroom, prison healthcare provider Wellpath and film production services company Film Finances have all filed for Chapter 11 bankruptcy protection, citing economic difficulties in the wake of the COVID-19 pandemic. 

  • November 13, 2024

    Blink Fitness Gets OK For $121M Sale To PureGym

    A Delaware bankruptcy judge has approved Blink Fitness' $121 million sale of its assets to U.K.-based PureGym Ltd., whose subsidiary won an auction held late last month, overruling objections over the auction's fairness as unfounded.

  • November 13, 2024

    Instant Brands Equity Owner Accused Of Lying To Lenders

    The litigation trustee for bankrupt kitchenware maker Instant Brands Wednesday filed suit in Texas bankruptcy court accusing the company's equity owner of lying to lenders and sending the company into Chapter 11 in order to collect $200 million in dividends.

  • November 13, 2024

    Gritstone Bio Can Tap $25M New DIP As It Works Toward Sale

    Vaccine developer Gritstone bio Inc. won a Delaware bankruptcy judge's approval Wednesday to borrow $25 million in new financing to support itself in Chapter 11 as the biotechnology company works to find a buyer.

  • November 13, 2024

    Jackson Walker Must Supply Docs In Judge-Atty Affair Probe

    The Texas federal court overseeing a U.S. Trustee's Office probe of a former Jackson Walker LLP partner's undisclosed relationship with a then-bankruptcy judge has given the firm until Friday to turn over its communications with public relations firms and pages from its attorney sourcebook.

  • November 13, 2024

    Goulston & Storrs Real Estate Attys Talk Distress Playbook

    As commercial real estate distress continues to play out, attorneys are seeing lenders adopt new strategies to save or reduce their exposure to troubled assets, sometimes working in tandem with investors looking to purchase such loans.

  • November 13, 2024

    Online Car Financing Co. Vroom Crashes Into Ch. 11

    Former used car seller and financier Vroom Inc. filed for Chapter 11 bankruptcy Wednesday in Texas with a prepackaged plan to swap $290 million of debt for the bulk of the equity in a reorganized business.

  • November 12, 2024

    Q&A With FTX Lead Ch. 11 Atty Andy Dietderich — Part I

    Sullivan & Cromwell LLP's Andy Dietderich led the legal team that represented FTX Trading Ltd. in its two-year-long, $14 billion-plus Chapter 11 case — from shortly before the company's bankruptcy filing in Delaware to its recent successful confirmation hearing.

  • November 12, 2024

    3rd Circ. Weighs Boy Scouts Ch. 11, Calif. AG Balks At Fee Bid

    The Third Circuit heard arguments on Boy Scouts of America's Chapter 11 plan from sexual abuse survivors as well as insurers, California's attorney general disputed Sullivan & Cromwell's fee requests in Kidde-Fenwal Inc.'s bankruptcy, and the U.S. trustee is seeking documents from Jackson Walker LLP regarding a former attorney's secret relationship with a bankruptcy judge. This is the week in bankruptcy.

  • November 12, 2024

    Biolase Strikes Deal With Creditors For Sale, Final DIP

    A Delaware bankruptcy judge agreed Tuesday to approve a $20 million sale and a final debtor-in-possession loan for dental technology maker Biolase Inc., which reported it worked out a deal and revised budget for the company's Chapter 11 to quell objections from the official committee of unsecured creditors.

  • November 12, 2024

    Former FTX Top Atty Joins Lowenstein Sandler In NY

    Lowenstein Sandler LLP announced Tuesday that the former general counsel at crypto exchange FTX will join the firm's New York office as a partner and chair of its new commodities, futures and derivatives practice group.

  • November 12, 2024

    DLA Piper Bolsters Restructuring Practice With Dechert Pro

    DLA Piper has hired an experienced restructuring expert from Dechert LLP to its practice in London, as the firm braces for continued global financial distress driven by geopolitical turmoil and macroeconomic headwinds.

  • November 18, 2024

    Davis Polk Hires Sidley Restructuring Heads In London

    Davis Polk & Wardwell LLP has hired two restructuring experts as partners in its London office, where they will advise a wide range of clients on financially troubled companies.

  • November 08, 2024

    5th Time Not The Charm For 'Stale' Dow Implant Check Fight

    The Sixth Circuit has again rejected an appeal from South Korean claimants who sought replacement checks from a Dow Corning breast implant settlement fund, finding in claimants' fifth trip to the appeals court that they missed their window to cash their duly disbursed settlement checks.

  • November 08, 2024

    Under The Radar: Bankruptcy News You May Have Missed

    The U.S. Trustee's Office took aim at the U.S. ties and motivations of a bankrupt defense contractor in Abu Dhabi, creditors of Eletson Holdings said they were still skeptical of Reed Smith LLP's work in the company's contentious Chapter 11 case and a Navajo Nation-owned energy company argued that a reorganized coal miner is trying to use a typo to boost royalty payments.

  • November 08, 2024

    Crypto Miner, Landlord Seek Early Wins In Ch. 11 Dispute

    Bankrupt cryptocurrency mining company Rhodium Encore and landlord Whinstone US Inc. pushed respective bids for early wins Friday in Texas court as they prepare for trial over a contract assumption dispute.

  • November 08, 2024

    Judge Will Give Solar Co. $3M Interim Lifeline In Ch. 11

    A Delaware bankruptcy judge said Friday she will grant Oya Renewables, a solar energy producer with offices in Boston and Toronto, interim access to $3 million in postpetition funding on offer from its Chapter 11 stalking horse bidder once some final modifications are made.

  • November 07, 2024

    Privilege Overruled In Firm's Suit Against Drinks Co. Founder

    A Florida state court judge Thursday ordered the founder of the company that makes Bang Energy drinks to sit for a deposition in a lawsuit over unpaid fees brought by counsel who formerly represented him in a bankruptcy case, overruling attorney-client privilege asserted in a previous attempt to depose him.

  • November 07, 2024

    Blink Asks Court To OK Contested $121M Stalking Horse Sale

    Two gym chains sparred over the assets of Blink Fitness Inc. in Delaware bankruptcy court Wednesday and Thursday, with a franchisee of U.S. mainstay Planet Fitness trying to upend a planned sale to the winning bidder, U.K.-based international gym operator PureGym Ltd.

  • November 07, 2024

    The Story Behind Global Wound Care Group's Ch. 11

    Allegations of potential fraud at Global Wound Care Group helped drive it toward seeking bankruptcy protection in Texas, with a year-long federal investigation now hanging over its Chapter 11 case.

  • November 07, 2024

    Solar Energy Co. Hits Ch. 11 With $100M In Debt, Sale Plans

    Oya Renewables, a solar energy producer with offices in Boston and Toronto, has filed for Chapter 11 protection in the Delaware bankruptcy court, disclosing at least $100 million in liabilities — including almost $87 million in funded debt — and plans to sell its assets, while blaming factors such as project delays and litigation for its liquidity crunch.

  • November 07, 2024

    Colo. Cannabis Co. Seeks Receivership As Part Of Wind Down

    A branded cannabis consumer goods company asked a Colorado state court late Wednesday to appoint a receiver over its business as its Canadian parent company seeks to wind down its operations.

  • November 07, 2024

    Firm That Took Hurricane Victim Cases Wants Out Of Fee Row

    A Louisiana law firm that took over now-bankrupt Houston plaintiffs firm MMA Law's hurricane victim cases is appealing a Houston bankruptcy's court's decision not to free it from a lawsuit claiming that it cut MMA out of its share of settlement fees.

Expert Analysis

  • Navigating Discovery Of Generative AI Information

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    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • A Look At DOJ's New Nationwide Investment Fraud Approach

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    Investment fraud charges are increasingly being brought in unlikely venues across the country, and the rationale behind the U.S. Department of Justice's approach could well be the heightened legal standards in connection with prosecuting investment fraud, says Jonathan Porter at Husch Blackwell.

  • Decoding The Digital Asset Landscape In Bankruptcy

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    Recent cases show the explosion of cryptocurrency as an asset class has created new challenges for debtors-in-possession, bankruptcy trustees, and federal and state receivers, and fiduciaries will have to consider a number of legal and practical considerations when determining how to manage these assets in insolvency, say David Castleman at Otterbourg and Anthony Facciano at Stretto.

  • How Fla. Bankruptcy Ruling May Affect Equity Owners

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    A Florida bankruptcy court’s recent ruling in Vital Pharmaceuticals — which rejected the Third Circuit’s Majestic Star decision that determined a bankrupt corporation’s flow-through status was not protected by the automatic stay — may significantly affect how equity owners can mitigate the impact of flow-through structures in bankruptcy, say Eric Behl-Remijan and Natasha Hwangpo at Ropes & Gray.

  • Calif. Ruling May Open Bankruptcy Trustees To Tort Liability

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    In Martin v. Gladstone, a recent California appellate court decision, the application of tort concepts to bankruptcy trustees could pose a new concern for trustees and federal receivers when controlling and maintaining commercial property, says Jarrett Osborne-Revis at Buchalter.

  • Co. Directors Must Beware Dangers Of Reverse Factoring

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    New accounting requirements governing the disclosure of so-called reverse-factoring programs have revealed billions of dollars worth of hidden liabilities on companies’ ledgers, and directors of corporate boards should review their companies’ books for this hidden danger, say Garland Kelley at Looper Goodwine, Amin Al-Sarraf at Locke Lord and Jill Basinger at Discovery Land.

  • Attorneys, Law Schools Must Adapt To New Era Of Evidence

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    Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

  • Why 7th Circ. Libel Ruling Is Crucial For The Media

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    As more defamation plaintiffs attorneys argue that allowing a published statement to remain online after additional evidence of falsity emerges equates to actual malice, the Seventh Circuit's recent National Police Association v. Gannett opinion should be lauded by the media and online publishers as a favorable decision, say attorneys at Vedder Price.

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

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    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • 3 Cases Show Tensions Between Arbitration And Insolvency

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    The intersection of international arbitration and insolvency may influence the formulation of litigation strategy on a global scale, and several recent cases illustrate the need for counsel to understand how courts are varying in their approaches, say attorneys at Skadden.

  • Air Ambulance Ch. 11s Show Dispute Program Must Resume

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    Air Methods’ recent bankruptcy filing highlights the urgent need to reopen the No Surprises Act’s independent dispute resolution program for air ambulances, whose shutdown benefits insurance companies and hurts providers, says Adam Schramek at Norton Rose.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

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    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

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