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Debt Deals On The Rise, Purdue Can Begin Claims Processing
A Texas district court, not a bankruptcy court, will oversee the U.S. trustee's efforts to claw back millions in legal fees paid to Jackson Walker over an undisclosed relationship between an attorney and bankruptcy judge; out-of-court debt deals eclipsed Chapter 11s by a 4-to-1 ratio last year; and drug manufacturer Purdue Pharma can begin processing claims ahead of a Chapter 11 confirmation hearing. This is the week in bankruptcy.
Meet The Attys Helping Kognitiv Handle Its Ch. 11
Customer loyalty platform Kognitiv US LLC has tapped lawyers from Faegre Drinker Biddle & Reath LLP to oversee its journey through Chapter 11 as it pursues an asset sale to another company in the same field.
Outdated Brand Could Hinder Hooters' Ch. 11 Recovery
Hooters has built its brand on buxom women wearing orange micro shorts while serving hot wings and frosty mugs of beer, but experts said the racy concept that made it a household name is outdated and could stymie the company's recovery as it seeks to emerge from Chapter 11.
Debt Deals On The Rise, Purdue Can Begin Claims Processing
A Texas district court, not a bankruptcy court, will oversee the U.S. trustee's efforts to claw back millions in legal fees paid to Jackson Walker over an undisclosed relationship between an attorney and bankruptcy judge; out-of-court debt deals eclipsed Chapter 11s by a 4-to-1 ratio last year; and drug manufacturer Purdue Pharma can begin processing claims ahead of a Chapter 11 confirmation hearing. This is the week in bankruptcy.
Meet The Attys Helping Kognitiv Handle Its Ch. 11
Customer loyalty platform Kognitiv US LLC has tapped lawyers from Faegre Drinker Biddle & Reath LLP to oversee its journey through Chapter 11 as it pursues an asset sale to another company in the same field.
Outdated Brand Could Hinder Hooters' Ch. 11 Recovery
Hooters has built its brand on buxom women wearing orange micro shorts while serving hot wings and frosty mugs of beer, but experts said the racy concept that made it a household name is outdated and could stymie the company's recovery as it seeks to emerge from Chapter 11.
Expert Analysis
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Large Cap More
A Texas bankruptcy judge on Monday said he would have to consider ways to increase Barretts Minerals Inc.'s perceived independence from its parent company if he agrees to allow the talc miner to stay in Chapter 11.
Crypto venture capital firm Digital Currency Group must face the bulk of the New York attorney general's claims it defrauded investors by hiding the dire financial condition of its bankrupt lending subsidiary ... (more story)
A British company locked in a $64 million contract feud with Lockheed Martin subsidiary Sikorsky Aircraft accused its former in-house counsel of giving testimony "blatantly inconsistent" with other evidence at... (more story)
The government of Nashville, Tennessee, has asked a Texas bankruptcy judge to reject confirmation of prison healthcare company Wellpath's Chapter 11 plan, arguing it improperly includes releases and exculpatio... (more story)
The unsecured creditors committee in fast-fashion chain Forever 21's Chapter 11 has challenged the debtor's motion to use cash collateral, telling the Delaware bankruptcy court that the funding bid is part of ... (more story)
Software group Mitel Networks' prepackaged Chapter 11 plan trimming $1.1 billion of debt has nonconsensual third party releases and can't be confirmed, the Office of the U.S. Trustee told a Texas bankruptcy judge.
Alex Jones' former lead Connecticut attorney will be suspended for only one additional week because of a prior sit-out in 2023, a state court judge has clarified, saying she hadn't considered that Norm Pattis ... (more story)
A California federal judge sentenced Girardi Keese's former chief financial officer to just over 10 years in prison Friday for aiding firm leader Tom Girardi's $15 million client theft scheme while also embezz... (more story)
Hospital operator Prospect Medical has scored $6 million in financing to temporarily stave off the closure of three Pennsylvania hospitals, the debtor's counsel told a Texas bankruptcy judge Thursday.
A creditor trust created under Amyris' Chapter 11 plan has sued the biotechnology company's former CEO in Delaware bankruptcy court, accusing him of abandoning his fiduciary duties by entering into a product l... (more story)
Mid Cap More
Exactech Inc. Tuesday told a Delaware bankruptcy judge that the implant maker has secured enough funding to keep its Chapter 11 case going to its scheduled confirmation hearing at the end of May, while the jud... (more story)
Publishers Clearing House entered Chapter 11 in New York as it looks to sell assets and focus on its digital business; a paper towel company that stocks Trader Joe's and other grocery store chains entered Chap... (more story)
Waste-to-fuel recycler Fulcrum Bioenergy received approval Monday for its Chapter 11 plan of liquidation following a surprisingly successful sale process, debtor's counsel said.
The developer of a wealth management software app filed for Chapter 11 in Delaware bankruptcy court on Monday, seeking to wind down after its Australian parent company collapsed last year.
British women's healthtech company Chiaro Technology Ltd. has filed for Chapter 15 recognition in Delaware bankruptcy court, seeking acknowledgment of an insolvency proceeding in the United Kingdom through whi... (more story)
A Delaware bankruptcy judge on Monday agreed to grant final approval of an Indiana recycling plant operator's request to borrow money from its parent company to fund its Chapter 11 case, after the debtor repor... (more story)
Azzur Group, which offers services for pharmaceutical developers, can seek votes on its Chapter 11 liquidation plan after the $56 million sale of its consulting business was approved Friday.
Bankrupt sweepstakes company Publishers Clearing House received approval for a slate of first-day motions Friday from a New York judge, including a request to continue paying prepetition obligations to prize w... (more story)
A Delaware bankruptcy judge Friday gave electric vehicle and hydrogen fueling technology maker Nikola Corp. the go-ahead to sell its Arizona factory and headquarters to electric carmaker Lucid Motors for $30 million.
A Delaware bankruptcy judge on Friday approved coal producer White Forest Resources Inc.'s sale of a West Virginia mine for a total price of about $21 million.