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Healthcare Cos. Using Ch. 11 As Life Support In 2024
Subchapter V Filings Slowing After Debt Limit Sunset
Meet The Attorneys Leading Solar Panel Co. Lumio's Ch. 11
Healthcare Cos. Using Ch. 11 As Life Support In 2024
Several healthcare companies, including ventilator maker Vyaire Medical Inc. and hospital operator Steward Health Care System, have filed for bankruptcy this year, citing issues like a post-pandemic revenue drop and ballooning expenses colliding with declining government reimbursements.
Subchapter V Filings Slowing After Debt Limit Sunset
After Congress allowed the expanded debt threshold for Subchapter V bankruptcies to expire in June, the rate of new cases filed under the streamlined small-business insolvency process has slowed since the beginning of the year, as practitioners have become more familiar with the statute and how to wield it, experts said.
Meet The Attorneys Leading Solar Panel Co. Lumio's Ch. 11
Lumio, a provider of residential solar panels, is seeking Chapter 11 bankruptcy protection in Delaware, and attorneys from Morris Nichols Arsht & Tunnell LLP are advising the company as it works toward a sale of its assets by mid-October.
Expert Analysis
Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and t... (more story)
A Delaware bankruptcy court’s recent ruling in Parlement Technologies’ Chapter 11 case, which denied a bid by Parl... (more story)
As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highl... (more story)
Large Cap More
The landlords of 30 SQRL fuel station and convenience store locations are urging a Texas federal bankruptcy court to allow them to avoid an automatic stay that they allege is blocking them from taking ownershi... (more story)
Asbestos cancer survivors and the estates of victims with pending claims against Aldrich Pump LLC, DBMP LLC and Murray Boiler LLC have asked the Fourth Circuit's permission to file an amicus brief in an appeal... (more story)
OxyContin maker Purdue Pharma LP received bankruptcy court approval on Thursday to extend its ongoing mediation for another 18 days and to continue the litigation shield protecting the Sackler family members w... (more story)
Placid Oil told a Fifth Circuit panel that previous bankruptcy proceedings cleared it of contamination claims on a Louisiana property, saying during oral arguments Thursday that language in the contract callin... (more story)
Just days after a bankruptcy judge said in court that unsecured creditors in the case of collapsed California debt relief firm Litigation Practice Group will likely receive little to nothing, professionals wor... (more story)
Online bankruptcy nonprofit Upsolve said it has received a $4 million grant from the Bill & Melinda Gates Foundation to develop and roll out financial software backed by artificial intelligence for use by indi... (more story)
Electric car maker Fisker Inc. requested that a Delaware judge approve a $475 million settlement with its Austrian manufacturing partner, which would cut more than €1.5 billion ($1.7 billion) in claims against... (more story)
Bankrupt talc supplier Whittaker Clark & Daniels Inc. asked a New Jersey bankruptcy court to approve a $535 million settlement that will resolve claims against companies including Berkshire Hathaway Inc., chem... (more story)
A Texas bankruptcy judge on Wednesday approved Steward Health Care's $343 million sale of six of its Massachusetts hospitals and new funding that will help the company keep its facilities in the Bay State operating.
A Texas bankruptcy judge said Wednesday he would give final approval to debtor-in-possession financing for furniture and appliance retailer Conn's after the debtor reached a resolution with its lenders and uns... (more story)
Mid Cap More
New York-based real estate investor EasyKnock Inc. would fork over the full alleged value of a debtor's home to her bankruptcy estate as part of a proposed deal to settle the Chapter 7 trustee's fraud claims a... (more story)
The U.S. Trustee's Office has asked a Delaware bankruptcy judge to reject Optio Rx LLC's Chapter 11 plan, saying it contains impermissible third-party releases that are overly broad in scope and period.
Drug developer Eiger Biopharmaceuticals will wind down its business and distribute proceeds from sales of its rare-disease treatments to creditors and shareholders under a Chapter 11 plan approved by a Texas b... (more story)
Clothing company Delta Apparel Thursday told a Delaware bankruptcy judge it had raised more than $54.4 million in an asset auction last week and settled a dispute over its Chapter 11 financing, and got the jud... (more story)
A Florida bankruptcy judge signed off Thursday on a plan for seafood restaurant chain Red Lobster to exit bankruptcy just under four months after filing for Chapter 11 protection.
Retiree creditors in the city of Chester, Pennsylvania's bankruptcy have denounced its proposed Chapter 9 plan, telling a judge in Philadelphia it is a "blunt-instrument approach" to complex issues and was doc... (more story)
Liberian entities fighting to enforce a $102 million arbitral award issued in a dispute over control of a $700 million liquefied petroleum gas shipping joint venture have criticized the award debtor's "flimsy ... (more story)
Several lenders and the U.S. Trustee's Office have all asked a Delaware bankruptcy judge to reject online clothing brand Jambys Inc.'s Chapter 11 plan, arguing that it is not viable, does not deal with their c... (more story)
A Colorado federal judge on Wednesday denied an attorney's request to have his debt to the Commodity Futures Trading Commission discharged after he and others were found liable for $10 million for their roles ... (more story)
A Michigan federal judge has dismissed a $1.3 million payment dispute between Canadian produce distributors and the U.S. arm of a vegetable wholesaler, after the parties reached a deal to resolve the litigation.