Mid Cap
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February 04, 2025
Guo Trustee Gets OK To Keep Law Firm Deal Sealed For Now
The Chapter 11 trustee overseeing convicted Chinese fraudster Miles Guo's bankruptcy estate can keep secret for 180 days an adversary proceeding settlement with a New York law firm because similar clawback cases should proceed without being impacted by the terms of the deal, a Connecticut bankruptcy judge has ruled.
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February 04, 2025
Bankruptcy Group Of The Year: Paul Hastings
Paul Hastings LLP spent 2024 representing renowned bankruptcy cases, including FTX, Core Scientific, WeWork and Diamond Sports Group's Chapter 11, helping various creditors recover billions of dollars and overcome challenging restructuring hurdles, earning the firm a spot as one of the 2024 Law360 Bankruptcy Groups of the Year.
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February 04, 2025
Judge Rejects Blink Fitness Ch. 11 Plan Exculpations
A Delaware bankruptcy judge Tuesday rejected Blink Fitness' request to shield the administrator of its Chapter 11 wind-down plan from legal liability, saying she can't release claims for future acts.
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February 04, 2025
King & Spalding Adds Restructuring Partners In New York
King & Spalding LLP said it has hired away two Alston & Bird partners for the firm's bankruptcy stable.
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February 03, 2025
Under The Radar: Bankruptcy News You May Have Missed
A New Jersey event venue, a lithium battery maker and the operator of one of the world's largest cobalt refineries hit Chapter 11; retailer Party City wants to beef up security for its current and former directors, citing threats of violence; and yet another former member of Byju's Alpha's top brass was sanctioned for contempt of court.
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February 03, 2025
Jackson Walker Ethics Case Shelved Over Lack Of Authority
A Houston federal judge on Monday recommended closing an ethics case against Jackson Walker LLP over its supposed knowledge of a firm attorney's relationship with a judge, finding the court lacked the authority to pursue sanctions against a law firm.
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February 03, 2025
Bankruptcy Group Of The Year: Akin
The more than 100 restructuring lawyers at Akin Gump Strauss Hauer & Feld LLP have untangled some of the most complex Chapter 11 cases in recent years for the benefit of unsecured creditors, including the sprawling proceedings of hospital system Steward Health Care and the difficult reorganization of Diamond Sports Group, earning it a spot among the 2024 Law360 Bankruptcy Groups of the Year.
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February 03, 2025
Meet The Team Guiding Cobalt Refiner Jervois Through Ch. 11
A team of Sidley Austin LLP attorneys is guiding the operator of one of the world's largest cobalt refineries through Chapter 11 as it seeks to shed nearly $164 million in debt.
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February 03, 2025
PetroQuest Gets OK For $20.6M Texas Oilfield Sale
A Delaware bankruptcy judge on Monday approved the $20.6 million sale of PetroQuest Energy's East Texas oilfields, more than two years after a failed attempt to sell those fields sparked a lawsuit that helped land the company in Chapter 11.
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February 03, 2025
Liberated Brands Files Ch. 11 After Losing Clothing Licenses
Liberated Brands LLC, a retail company that sells clothes for brands like Volcom, RVCA and Billabong, filed for bankruptcy in Delaware with $226 million in debt to wind down and sell its operations after a retail lull pinched its liquidity and led a third-party brand owner to pull out of key license agreements.
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January 31, 2025
Under The Radar: Bankruptcy News You May Have Missed
Lenders for Tupperware said the company's Chapter 11 case does not need a committee to represent retired workers, the U.S. Trustee's Office opposed third-party releases in a pair of Chapter 11 cases and hardware retailer True Value wants more time to pursue its Chapter 11 plan.
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January 31, 2025
Comics Distributor Seeks Ch. 11 Lifeline In Tough Industry
Diamond Comic recently filed for bankruptcy in Maryland after 40 years in business, dealing a blow to the comic book industry, but the company is pursuing a potential going-concern sale to ensure it hasn't turned its last page.
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January 31, 2025
Supreme Court Eyes Its 'Next Frontier' In FCC Delegation Case
A case about broadband subsidies will give the U.S. Supreme Court the chance to revive a long-dormant separation of powers principle that attorneys say could upend regulations in numerous industries and trigger a power shift that would make last term's shake-up of federal agency authority pale in comparison. And a majority of the court already appears to support its resurrection.
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January 31, 2025
Sandy Hook Families Resist Depositions In Alex Jones Ch. 11
Two groups of families of victims in the Sandy Hook school shooting are fighting deposition and document requests from right-wing fabulist Alex Jones ahead of a hearing Wednesday on a settlement between the groups.
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January 31, 2025
Judge Approves TGI Fridays To Sell 17 More Restaurants
A Texas bankruptcy judge on Friday approved TGI Fridays' sale of 17 restaurant locations for more than $3 million after the casual-dining chain resolved objections over protections for its landlords.
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January 31, 2025
Bankruptcy Group Of The Year: Jones Day
Jones Day's bankruptcy attorneys spent 2024 on the frontiers of their practice, with work that included helping a Johnson & Johnson subsidiary enter bankruptcy with a proposal for a historically large talc injury settlement, as well as helping Spark Networks SE to navigate a new German bankruptcy law and the Chapter 15 process — putting the team among the 2024 Law360 Bankruptcy Groups of the Year.
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January 31, 2025
NJ Event Venue Hits Ch. 11 After $11M Loan Foreclosure
A New Jersey event venue under construction called The Chariot has filed for Chapter 11 protection in New Jersey after its bank took foreclosure action on its $11 million loan, with the business' co-owner saying the debtor launched the insolvency proceedings to get some "breathing room" as it works toward opening the sprawling restaurant and catering space.
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January 31, 2025
NY Nursing Home Sale Request Delayed By Union Dispute
A bankrupt 588-bed Long Island nursing home Friday postponed its request that a New York bankruptcy judge approve the sale of its facility while its union workers and its proposed buyer try to work out the terms of their future contract.
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January 30, 2025
Container Store Hopes Debt Restructuring Leads To Growth
After a quick trip through Chapter 11, The Container Store has emerged as a private company in the control of its lenders, but its changes were largely to its balance sheet rather than its operations.
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January 30, 2025
Agency In NJ Town Loses Retrial Bid In $26M Land-Taking Fight
A New Jersey federal judge has denied a redevelopment agency's bid for a new trial in a land-taking battle after a jury determined it should pay $25.6 million for a 22-acre former Michelin Tire & Rubber Co. factory, ruling that it failed to meet the high bar set to overturn a verdict.
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January 30, 2025
Meet The Attorneys Powering Battery Startup iM3NY's Ch. 11
IM3NY, a pre-revenue battery manufacturer, filed for bankruptcy in Delaware on Monday, looking to sell its assets by early April after it ran out of money and struggled to find investors needed for its New York factory. Guiding the startup is a team of Chipman Brown Cicero & Cole LLP lawyers.
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January 30, 2025
Pashman Stein Brings On Bankruptcy Pros In Delaware
Pashman Stein Walder Hayden PC has added two attorneys, including one from Whiteford Taylor & Preston LLP, to continue to grow its bankruptcy, restructuring and creditors' rights practice in Delaware and beyond.
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January 30, 2025
Bankruptcy Group Of The Year: Weil
Bankruptcy attorneys from Weil Gotshal & Manges LLP steered hospital chain Steward Health Care's $9 billion bankruptcy and represented Scandinavian Airlines in its restructuring of $2 billion in debt across the U.S. and Sweden, earning a spot among the 2024 Law360 Bankruptcy Groups of the Year.
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January 30, 2025
Judge Stays NY Diocese Abuse Suits, Citing 2nd Circ. Ruling
A New York bankruptcy judge on Thursday agreed to stay sexual abuse claims filed under the state's Child Victims Act against the Roman Catholic Diocese of Rochester, deciding that a Second Circuit ruling in 2022 makes clear that legal actions naming debtors as defendants are barred by bankruptcy's automatic stay.
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January 29, 2025
Cobalt Refiner Hits Ch. 11 With Plan To Cut $164M In Debt
A Texas bankruptcy judge Wednesday put the operator of one of the world's largest cobalt refineries on course for a March hearing on a Chapter 11 plan to shed nearly $164 million in debt as it deals with depressed cobalt prices it blames on Chinese oversupply.