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Purdue Mediators Say US Trustee OK With New Releases
The mediators guiding plan negotiations among bankrupt drugmaker Purdue Pharma and its various creditor constituencies said in a Tuesday report that the U.S. Trustee's Office has agreed to release language in the debtor's latest plan after fighting an earlier version all the way to the Supreme Court.
Catching Up With New Bankruptcy Case Action
23andMe Holding Co. entered Chapter 11 to sell its business and address $214 million in debt; Danimer Scientific Inc., which makes plastics alternatives, entered Chapter 11 to wind down while it tends to its roughly $450 million debt burden; and sneaker shop Soleply began a streamlined bankruptcy for small businesses in an effort to exit some lease obligations and restructure its debt.
WB Fight Led Production Co. Behind 'The Matrix' To Ch. 11
Village Roadshow Entertainment Group, a funding and production company behind blockbusters like "The Matrix" and "The Great Gatsby," filed for bankruptcy last week after a soured partnership with Warner Bros. and an attempt to open its own studio fell flat.
Purdue Mediators Say US Trustee OK With New Releases
The mediators guiding plan negotiations among bankrupt drugmaker Purdue Pharma and its various creditor constituencies said in a Tuesday report that the U.S. Trustee's Office has agreed to release language in the debtor's latest plan after fighting an earlier version all the way to the Supreme Court.
Catching Up With New Bankruptcy Case Action
23andMe Holding Co. entered Chapter 11 to sell its business and address $214 million in debt; Danimer Scientific Inc., which makes plastics alternatives, entered Chapter 11 to wind down while it tends to its roughly $450 million debt burden; and sneaker shop Soleply began a streamlined bankruptcy for small businesses in an effort to exit some lease obligations and restructure its debt.
WB Fight Led Production Co. Behind 'The Matrix' To Ch. 11
Village Roadshow Entertainment Group, a funding and production company behind blockbusters like "The Matrix" and "The Great Gatsby," filed for bankruptcy last week after a soured partnership with Warner Bros. and an attempt to open its own studio fell flat.
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Large Cap More
Talc miner Barretts Minerals Inc. sought a Texas bankruptcy court's determination that talc injury claims based on inadequate asbestos testing are property of the estate in its Chapter 11 case, saying the ques... (more story)
Medical implant maker Exactech Inc. on Tuesday filed an updated Chapter 11 plan disclosure in Delaware bankruptcy court, saying it addressed the concerns raised by the court at a hearing last month.
First-lien lenders of debtor Franchise Group Ltd. that are owed $1 billion have filed an adversary complaint in the retail chain operator's Chapter 11 case in Delaware, saying junior lenders owed more than $10... (more story)
A New Jersey trial lawyer who accused Netflix Inc. of infringing his copyright in its documentary about sexual abuse in the Boy Scouts of America pushed back against the streaming giant's dismissal bid, arguin... (more story)
The special master overseeing the sale of Citgo's parent company to satisfy billions of dollars of Venezuelan debt is recommending a federal judge proceed with a floor-setting bid of $3.699 billion submitted b... (more story)
Bread Financial Holdings Inc. and some of its executives have beaten a shareholder suit alleging that they tried to defraud investors by concealing issues with now-bankrupt spinoff company Loyalty Ventures, wi... (more story)
Counsel for hospital operator Prospect Medical told a Texas bankruptcy judge Monday the debtor recently struck a deal to further finance the operation of its hospitals in Pennsylvania to the tune of $13 millio... (more story)
The purported new owners of Eletson Holdings Inc., a reorganized international shipping group, have urged the Second Circuit to nix Reed Smith's appeal challenging the law firm's removal as counsel for the com... (more story)
A Delaware vice chancellor refused on Friday to certify a mid-case appeal sought by bankrupt Sears Hometown Stores and its billionaire controller after a Court of Chancery ruling that an investor should get a ... (more story)
Texaco has said it is appealing a New York bankruptcy judge's decision that tens of billions in environmental litigation liabilities weren't discharged in its 37-year-old Chapter 11 reorganization.
Mid Cap More
The stalking horse bidder for the assets of bankrupt aerospace parts supplier Dynamic Aerostructures must inform the Delaware bankruptcy court by Thursday whether it intends to make a credit bid that includes ... (more story)
A Delaware bankruptcy judge has granted a motion from the former owner of the Salt Life clothing and lifestyle business, Delta Apparel Inc., to transition its bankruptcy case from a Chapter 11 to a Chapter 7 l... (more story)
A pension fund heading up a class action against skin care technology group Cutera has urged a Texas bankruptcy court to find the shareholder has authority to opt all class members out of the company's Chapter 11 plan.
Lowenstein Sandler LLP on Tuesday secured a ruling enabling the firm to pursue claims that a cannabis dispensary committed a "fraud on the court," with a New Jersey state judge rejecting the business' attempt ... (more story)
The owner and operator of a hotel in Southern California received a Delaware bankruptcy court's permission for a week of Chapter 11 financing after the judge said he would not approve MOM CA Investco LLC's ini... (more story)
Fintech company Spark Technology A/S on Monday hit bankruptcy in the Bankruptcy Division of the Danish Maritime and Commercial Court after several months of being in hot water with the Danish Business Authority.
A Texas bankruptcy judge on Monday gave bankrupt engineering firm ENGlobal Corp. permission to put itself on the block a month from now, saying a quick sale made the most sense for the company.
Vertical farming venture Plenty Unlimited Inc. filed for Chapter 11 protection in Texas bankruptcy court with $100 million to $500 million of both assets and liabilities after struggling to raise fresh funds t... (more story)
DNA testing company 23andMe Inc. filed for Chapter 11 protection in Missouri bankruptcy court, listing $214 million of debt and saying it plans to sell its business through the bankruptcy process.
A Delaware bankruptcy judge on Friday gave interim approval to a high-protein soybean developer's $11 million debtor-in-possession loan, allowing it to access $3 million as it looks to sell itself within 75 days.