To access this content, a subscription to Bankruptcy Authority is required.
Ch. 11 Check-In: Bally Parent's Plan In A Run For Home Plate
PE-Backed Red Lobster Has Rocky Route To Post-Ch. 11 Profit
Healthcare Cos. Using Ch. 11 As Life Support In 2024
Ch. 11 Check-In: Bally Parent's Plan In A Run For Home Plate
The parent company of Bally Sports-branded regional sports networks is working its way toward a Chapter 11 plan that will keep its broadcast agreements with more than half of the professional sports teams that play in the National Hockey League, National Basketball Association and Major League Baseball, but finality is far from certain in the 18-month old cases.
PE-Backed Red Lobster Has Rocky Route To Post-Ch. 11 Profit
With court approval of its reorganization plan secured, Red Lobster will soon exit bankruptcy with new owners, a 35-year-old chief executive, $60 million in fresh funding and about 100 fewer restaurants. But to pull off its planned turnaround, the seafood chain must revitalize its brand in a tricky market for casual-dining restaurants, and the next 12 months will be critical, experts told Law360.
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.
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
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including which presidential candidates BigLaw real estate pros have backed, where one attorney sees investor confiden... (more story)
A company formed by the founders of defunct teledentistry group SmileDirectClub has said a Chapter 7 trustee can't usurp liens it received on SmileDirectClub's assets under a debtor-in-possession loan, urging ... (more story)
Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.
An alternative investment company has asked a Texas federal court to overturn a sanctions order it received in defunct hedge fund Highland Capital's Chapter 11 case after the bankruptcy court concluded that it... (more story)
The U.S. Trustee's Office has urged a New York bankruptcy judge to reject a proposed settlement in which Celsius Network would make distributions to its former corporate customers, saying the debtor already co... (more story)
A Delaware bankruptcy court has partially allowed claims accusing steelmaking giant Cleveland-Cliffs of engaging in anticompetitive behavior that harmed a mining venture's efforts to complete an iron mine and ... (more story)
Steptoe LLP has expanded its transactions and tax practice by hiring a New York-based partner as a co-leader of the firm's insolvency and restructuring team.
A New York bankruptcy judge Friday said he would approve remote learning company 2U Inc.'s prepackaged plan to cut $527 million in debt in Chapter 11, rejecting arguments that it failed to get proper consent f... (more story)
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)
Mid Cap More
The U.S. Trustee's Office has urged a New Jersey bankruptcy court to dismiss a Chapter 11 petition from McElroy Deutsch Mulvaney & Carpenter LLP's former CFO, who is currently incarcerated for embezzling milli... (more story)
The owner of a property leased to Red Lobster said a Zurich unit negligently failed to name the owner on settlement checks issued to the eatery after a fire, telling a New Jersey federal court the failure allo... (more story)
The U.S. Trustee's Office has filed an objection in Delaware bankruptcy court to Solar Biotech's proposed $14.9 million credit bid asset sale, saying it does not appear to leave anything to pay Chapter 11 expenses.
A retired business owner who the U.S. government said removed his mailbox to avoid receiving letters from the IRS owes nearly $1.9 million in unpaid tax liabilities, some stemming from pretending to operate hi... (more story)
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)