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Alex Jones Blasts Onion Bid, FTX Tech Deputy Avoids Prison
Alex Jones and a backup bidder linked to his Chapter 7 are challenging the sale of his Infowars website to The Onion, alleging flaws in the auction process. A former FTX's tech deputy can avoid prison time for assisting the FTX fraud case by exposing programming flaws; attorneys who have represented Purdue Pharma can receive $21.2 million in fees for its work during summer. This is the week in bankruptcy.
Meet The Attorneys Helping Spirit Airlines Navigate Ch. 11
Ultra-low-cost airline Spirit has called on lawyers from Davis Polk & Wardwell LLP to see it through a prearranged Chapter 11 meant to address $3.6 billion in funded debt after the U.S. Department of Justice thwarted the company's bid to merge with JetBlue.
Under The Radar: Bankruptcy News You May Have Missed
Troubled nursing home operator Petersen Health Care reached a settlement with the former owner of one of its properties, a Chapter 11 examiner urged mediation in the bankruptcy of New York hedge fund Weiss Multi-Strategy Advisers and the liquidating trust for Residential Capital LLC was given a two-year extension to continue insurance coverage litigation.
Alex Jones Blasts Onion Bid, FTX Tech Deputy Avoids Prison
Alex Jones and a backup bidder linked to his Chapter 7 are challenging the sale of his Infowars website to The Onion, alleging flaws in the auction process. A former FTX's tech deputy can avoid prison time for assisting the FTX fraud case by exposing programming flaws; attorneys who have represented Purdue Pharma can receive $21.2 million in fees for its work during summer. This is the week in bankruptcy.
Meet The Attorneys Helping Spirit Airlines Navigate Ch. 11
Ultra-low-cost airline Spirit has called on lawyers from Davis Polk & Wardwell LLP to see it through a prearranged Chapter 11 meant to address $3.6 billion in funded debt after the U.S. Department of Justice thwarted the company's bid to merge with JetBlue.
Under The Radar: Bankruptcy News You May Have Missed
Troubled nursing home operator Petersen Health Care reached a settlement with the former owner of one of its properties, a Chapter 11 examiner urged mediation in the bankruptcy of New York hedge fund Weiss Multi-Strategy Advisers and the liquidating trust for Residential Capital LLC was given a two-year extension to continue insurance coverage litigation.
Expert Analysis
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Large Cap More
Four Spirit Airlines subsidiaries in the Cayman Islands were expected to file for bankruptcy protection Monday and ask a New York federal court to join the company's main Chapter 11 case, a move that Spirit sa... (more story)
The bankrupt owner of packaged food maker Hearthside Food Solutions told a Texas bankruptcy judge on Monday it is seeking to implement a debt-for-equity swap with its senior creditors by the end of March, obta... (more story)
The trustee liquidating the assets of Ponzi schemer Bernard Madoff has agreed to settle its $21.2 million clawback suit against ZCM Asset Holding Co. for $10.6 million, it said in filing in New York bankruptcy court Friday.
A Texas bankruptcy judge on Monday gave DRF Logistics, the former online delivery arm of shipping and logistics group Pitney Bowes, the all clear to move forward on plans to wind down in Chapter 11 with a rece... (more story)
Creditors of bankrupt gas tanker operator Eletson Holdings Monday called for "harsh sanctions" against company directors and officers and their attorneys at Reed Smith, saying they are peddling bogus legal the... (more story)
A Delaware bankruptcy judge Friday approved the $760 million sale of bankrupt discount retail chain Big Lots to a private equity group and told creditors they were out of time to challenge the company's Chapter 11 financing.
The U.S. Bankruptcy Court for the Southern District of New York, one of the nation's busiest bankruptcy venues, has announced that it will be losing one of its longest-serving judges next year.
Latham & Watkins LLP announced Thursday that it has tapped four restructuring practice leaders from two rival BigLaw shops to join its New York office.
H-Food Holdings LLC, which makes granola bars, pretzels and other snacks under the name Hearthside Food Solutions for major brands, filed for bankruptcy protection in Texas on Friday, with a restructuring agre... (more story)
Hodgson Russ LLP has added an attorney who focuses on complex commercial insolvency matters to its team in Buffalo to work as a partner with its bankruptcy, restructuring and commercial litigation practice.
Mid Cap More
Goldgrub Law and Mandelbaum Barrett are among the law firms that steered the largest New York City real estate deals to hit public records last week, a period that saw several large residential transactions ac... (more story)
A Texas bankruptcy judge Monday gave his blessing for bankrupt private equity investor Aztec Fund Holding Inc. to sell one of its real estate properties to Valley Equity Group LLC for just over $4.5 million.
Drugmaker Nostrum Laboratories asked a New Jersey bankruptcy judge to extend its Chapter 11 automatic stay to its CEO and its parent company, Nostrum Pharmaceuticals LLC, both of which are nondebtors.
E-commerce company Grocery Shopii filed for Chapter 7 liquidation in Delaware bankruptcy court listing a bit over $2.8 million of debt against a shade over $1 million of assets.
A split Ninth Circuit on Friday held that voluntary contributions to employer-managed retirement plans are not disposable income under Chapter 13 bankruptcy, reversing a lower court's decision that required a ... (more story)
A New Jersey bankruptcy judge on Friday sided with a lender of the insolvent owner of the historic New York County Lawyers Association Building in Manhattan, ordering that a Chapter 11 trustee take over the pr... (more story)
The former owner of pop-culture merchandise subscription box Loot Crate has asked a Delaware bankruptcy judge to sign off on a settlement it said is the best way to maximize creditor recoveries and wind up its... (more story)
Abu Dhabi-based defense contractor Paramount Group Ltd. told a Delaware bankruptcy judge on Friday that its efforts to implement a Chapter 11 restructuring "fell apart" in the early days of its case, and that ... (more story)
A Delaware bankruptcy judge on Friday gave Dormify Inc., a retailer that sells college gear and decor for dorms, approval to use its existing cash management system and held off on requiring it to hire a claim... (more story)
A New Jersey cannabis dispensary has moved to dismiss a suit from Lowenstein Sandler LLP seeking nearly $800,000 in unpaid fees, telling a state court that the firm did not give the proper notice before suing ... (more story)