Mid Cap
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August 05, 2024
The 'No Nonsense' Calif. Judge Overseeing Girardi's Trial
The California federal judge who will preside over the closely watched criminal trial of disgraced attorney Tom Girardi is a veteran jurist who runs a tight ship, but is also known for being extraordinarily thorough and thoughtful.
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August 05, 2024
What To Watch Out For During Girardi's Trial
With evidence of allegedly stolen millions and attempted escapes to the Bahamas taking center stage, disgraced attorney Tom Girardi's criminal trial is set to begin Tuesday at the murky intersection of client theft and TV celebrity, where attorneys will grapple with novel legal issues like the use of evidence from a bankruptcy trustee.
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August 02, 2024
Giuliani Sees Bankruptcy Case Officially Tossed
A New York bankruptcy judge on Friday officially tossed Rudy Giuliani's bankruptcy case, allowing a mother and daughter who worked as Georgia election workers to pursue a $148 million defamation judgment they won against the former Donald Trump lawyer in December.
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August 02, 2024
Bed Bath & Beyond Accuses Gamestop CEO Of Insider Trading
The bankrupt big-box housewares retailer once known as Bed Bath & Beyond Inc. sued GameStop CEO Ryan Cohen and his company RC Ventures LLC in New York federal court Thursday, seeking to recover $47 million that it says the defendants made from insider trading not long before the company went belly-up.
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August 02, 2024
How Two Non-Bankruptcy Attys Won A Rare Ch. 7 Jury Trial
A pair of Boston-based attorneys from Davis Malm scored a victory in a rare bankruptcy-related jury trial despite not being bankruptcy practitioners themselves, after a Delaware panel rejected a trustee's bid to recoup $44 million from a former grocery store magnate.
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August 02, 2024
Vaccine Co. Seeks Recognition Of Canadian Restructuring
A Delaware bankruptcy judge scheduled a late August hearing to consider recognition of a vaccine developer's insolvency proceedings in Canada.
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August 02, 2024
Bid To Get Ex-Judge Jones' Phone Records Blocked, For Now
A Texas judge has temporarily barred JCPenney's bankruptcy administrator from accessing former Judge David R. Jones' cellphone records amid the scandal involving his concealed romantic relationship with an ex-Jackson Walker LLP partner and firm fees he approved in various cases, including JCPenney's bankruptcy.
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August 02, 2024
Creditors Seek Bankruptcy For Smart Home Co. Pepper
Three creditors of SmartHome Ventures, a Kansas-based company that does business as Pepper, have filed an involuntary Chapter 11 petition in Delaware bankruptcy court claiming $5.6 million in debt, the latest sign of stress for companies that make "smart" home technologies.
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August 01, 2024
Alter Egos Say Rival Pool Co. Jumped The Gun On Discovery
The alter egos of bankrupt pool supply company Blueworks Corp. have rebuffed claims that they "simply refuse to answer" requests for discovery from rival Hayward Industries Inc. in its quest to secure a $16 million false advertising and deceptive trade practices judgment.
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August 01, 2024
'Texas Two-Step,' 3rd-Party Releases In Congress' Crosshairs
The "Texas two-step" bankruptcy maneuver is facing another congressional challenge from a bill that also aims to codify the U.S. Supreme Court's decision barring involuntary third-party releases in bankruptcy plans.
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August 01, 2024
Insys Trust Sees $6M Clawback For Ex-CEO's Defense Upheld
A Delaware federal judge has ruled a liquidating trust for drugmaker Insys Therapeutics can claw back $6 million paid out for the criminal defense of ex-CEO John Kapoor, affirming a bankruptcy court's ruling last year.
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August 01, 2024
Pioneer Health Approved For $450K To Fund Ch. 11 Sale Plan
Bankrupt clinic operator Pioneer Health Inc. received approval from a Delaware court to borrow $450,000 as it pursues a sale of its assets, but agreed to delay a hearing on a proposed Chapter 11 plan to give the company time to update the filings to reflect its new track.
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August 01, 2024
SouthRock Drops Request To Extend Bankruptcy Stay To CEO
SouthRock Capital Ltda., a Brazilian private equity company that operates international food brands including Starbucks and TGI Fridays, withdrew Thursday its request to extend an automatic stay to litigation against its CEO, who is not a debtor in the firm's Brazilian bankruptcy.
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August 01, 2024
3rd Circ. Says Enviro Fight No Reason To Reopen Ch. 11
The Third Circuit ruled Thursday that Bath Iron Works' potential liability over a polluted New Jersey river doesn't affect the Chapter 11 case of the shipbuilder's former affiliate, backing a district court that decided a bankruptcy judge erred in reopening the case.
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August 01, 2024
Biotech Co. Biedermann Motech Hits Ch. 11 With $34M Debt
Biedermann Motech, a maker of implants for spinal and extremity surgery, filed for Chapter 11 protection in Delaware bankruptcy court with $34 million in debt.
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July 31, 2024
Guardian Elder Care Nursing Homes in Pa., W.Va. Enter Ch. 11
A group of 19 skilled nursing homes in Pennsylvania and West Virginia filed for Chapter 11 bankruptcy protection amid declining patient numbers, telling a federal bankruptcy judge Wednesday that the plan was to stay in operation long enough to sell the facilities.
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July 31, 2024
NewAge Execs Deny Inflating Military Contract Prospects
Executives and board members of the defunct beverage company NewAge Inc. hit back at investors' allegations that they lied about having a deal to sell their products in military commissaries, saying the investors had failed to show that material misstatements were made.
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July 31, 2024
San Jose Says Hotel's Ch. 11 Plan Saved Tax Claims
The city of San Jose, California, asked a Delaware bankruptcy judge to allow it to pursue tax and utilities claims against the former operator of a high-end hotel that confirmed a Chapter 11 plan in 2021, saying the hotel's restructuring plan explicitly allowed those claims.
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July 31, 2024
Giuliani Strikes Fee Payment Deal For Ch. 11 Dismissal
Rudy Giuliani agreed to sell one of his multimillion-dollar homes to cover around $400,000 in administrative expenses that have held up dismissal of his Chapter 11 bankruptcy, the Republican firebrand and his creditors said in a letter sent Wednesday to a New York bankruptcy judge.
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July 31, 2024
Mercon Coffee's Ch. 11 Liquidation Plan Confirmed
A New York bankruptcy judge has confirmed the liquidation plan for coffee supplier Mercon Coffee Corp. after ruling earlier this month the company can't reward corporate insiders who stuck with it through its Chapter 11 case with a release from future litigation.
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July 31, 2024
Conn's Bankruptcy Shows Retail Stressors Converging
While retailers have been under pressure for years, Conn's bankruptcy last week illustrates the convergence of two acute and growing problems that have taken hold this year: lower-income consumers who are cutting spending and difficulty selling the same kinds of home goods that flew off the shelves earlier in the COVID-19 pandemic.
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July 30, 2024
Machine Toolmaker Hardinge Lines Up $100M Credit Bid
A Delaware bankruptcy judge said she would give interim approval to New York-based metal-cutting machine toolmaker Hardinge Inc. to access up to $24.2 million of a $27.35 million package to fund its Chapter 11 case, in which it has lined up a $100 million stalking-horse bid.
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July 30, 2024
Meet The Attorneys In Machine Toolmaker Hardinge's Ch. 11
A team of lawyers from Chipman Brown Cicero & Cole LLP and Ropes & Gray LLP is guiding machine toolmaker Hardinge's Chapter 11 case in Delaware, with a plan to sell its assets.
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July 30, 2024
Judge OKs $1.4M Deal With Ex-LeClairRyan Attorneys
A Virginia bankruptcy judge Tuesday approved a settlement of more than $1.4 million of claims against the estate of the defunct LeClairRyan law firm by two former firm attorneys.
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July 30, 2024
Ex-Ch. 11 Trustee Can't Retroactively File Legal Fees
A bankruptcy trustee who is removed can't retroactively receive administrative expenses, the Fourth Circuit has ruled, saying a former bankruptcy trustee is not allowed to later file an application for professional fees.