To access this content, a subscription to Bankruptcy Authority is required.
Spirit Airlines Release Ruling Is Another Boost For Opt-Outs
A New York bankruptcy judge's decision last week to approve a contentious form of third-party release in Spirit Airlines' Chapter 11 case signals that courts are increasingly comfortable finding that a creditor's silence can be used to establish their consent, an issue hotly debated in the months since the U.S. Supreme Court's Purdue Pharma ruling.
Inflation, Manufacturing Woes Landed Aerospace Co. In Ch. 11
Quality control issues stemming from inconsistent manufacturing practices and global inflation spiking inventory costs led Dynamic Aerostructures LLC, a California-based supplier to aerospace companies like Boeing and Lockheed Martin, to seek bankruptcy protection in late February with up to $100 million in debt, according to its court papers.
Catching Up With New Bankruptcy Case Action
A business automation firm, a dermatology technology maker and a telecommunications business software group all filed for Chapter 11 with debt-for-equity swap plans. A Tex-Mex restaurant chain filed for Chapter 11 in the face of macroeconomic pressures. An energy industry engineering firm filed for bankruptcy after trade debt bogged down merger or sale efforts. A Missouri car transporter is looking to liquidate in Chapter 7, and two real estate companies filed for Chapter 11 in New York.
Spirit Airlines Release Ruling Is Another Boost For Opt-Outs
A New York bankruptcy judge's decision last week to approve a contentious form of third-party release in Spirit Airlines' Chapter 11 case signals that courts are increasingly comfortable finding that a creditor's silence can be used to establish their consent, an issue hotly debated in the months since the U.S. Supreme Court's Purdue Pharma ruling.
Inflation, Manufacturing Woes Landed Aerospace Co. In Ch. 11
Quality control issues stemming from inconsistent manufacturing practices and global inflation spiking inventory costs led Dynamic Aerostructures LLC, a California-based supplier to aerospace companies like Boeing and Lockheed Martin, to seek bankruptcy protection in late February with up to $100 million in debt, according to its court papers.
Catching Up With New Bankruptcy Case Action
A business automation firm, a dermatology technology maker and a telecommunications business software group all filed for Chapter 11 with debt-for-equity swap plans. A Tex-Mex restaurant chain filed for Chapter 11 in the face of macroeconomic pressures. An energy industry engineering firm filed for bankruptcy after trade debt bogged down merger or sale efforts. A Missouri car transporter is looking to liquidate in Chapter 7, and two real estate companies filed for Chapter 11 in New York.
Expert Analysis
Scandinavia's SAS is the first European airline to find its wings through the U.S. Chapter 11 process since COVID-... (more story)
HE v. Avadim Holdings, a recent ruling from the District of Delaware, underscores the principle that rejection of ... (more story)
.jpg)
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few ... (more story)
Large Cap More
Families of the victims of the 2012 Sandy Hook Elementary School shooting have urged a Texas bankruptcy judge to block an Alex Jones-affiliated company's revived bid to buy his Infowars platform, saying it wil... (more story)
Six law firms are guiding a $6.7 billion merger between Ireland's Mallinckrodt PLC and Pennsylvania-based Endo Inc. in a deal announced Thursday that the companies said will create a global pharmaceutical indu... (more story)
The Republican-led U.S. Senate Banking Committee advanced its stablecoin framework Thursday with the help of Democrats who broke from ranking member Sen. Elizabeth Warren's opposition, while a separate bill on... (more story)
Former Alex Jones attorney Norm Pattis will be suspended from practicing law for two weeks, a Connecticut judge has ruled, capping a three-year ethics saga that started when Pattis asked an associate to send S... (more story)
A group of insurers have no coverage obligations under certain policies issued to drugmaker Mallinckrodt as a trust created from the company's first bankruptcy seeks to resolve underlying opioid claims with th... (more story)
An Ohio federal judge affirmed Tuesday a bankruptcy court's decision tossing legal malpractice claims filed by a coal company executive's estate against Willkie Farr & Gallagher LLP, rejecting the estate's arg... (more story)
Bankrupt electric vehicle battery maker Northvolt AB told a Texas bankruptcy judge that its Chapter 11 case is possibly headed for dismissal after its parent company filed an insolvency case in Swedish court early Wednesday.
Units of the London-based bank HSBC say that more than $324 million of claims brought by the trustee overseeing the liquidation of Bernie Madoff's bankruptcy estate should be thrown out because they were filed... (more story)
The federal bankruptcy watchdog asked a New York judge Wednesday to sanction a lawyer who allegedly concealed her conflicts of interest while representing a debtor and a buyer in two separate Chapter 11 cases.
A New York bankruptcy judge on Wednesday ordered the prebankruptcy shareholders of Greek shipping group Eletson Holdings to end their opposition to overseas recognition of the company's Chapter 11 plan or pay ... (more story)
Mid Cap More
A Delaware bankruptcy judge on Thursday said he would allow Dormify Inc. to borrow up to $265,000 in Chapter 11 financing as the dorm-room decorating retailer works to secure an agreement to sell its business.
A Texas bankruptcy judge said he would approve a global settlement between trucking company Kal Freight Inc., several of its secured lenders and its committee of unsecured creditors, as well as a $3.3 million ... (more story)
Bankrupt oil and gas company PetroQuest Energy has asked a Delaware bankruptcy judge to approve bidding procedures to sell its rights to an $8 million judgment in its favor against Sanare Energy Partners, hopi... (more story)
Pallet company PaLIoT Solutions Inc. told a Michigan federal judge on Wednesday that the issue of whether it violated a bankruptcy court's order regarding trade secrets purchased in a rival company's asset sal... (more story)
A hospital operator urged a Delaware bankruptcy judge to overrule objections to its Chapter 11 plan, arguing Wednesday that it's the only way to save three critical New Jersey medical facilities.
A Pennsylvania bankruptcy judge has agreed to allow a pause in the auction of bankrupt Corsa Coal Corp.'s assets after hearing from lawyers in the Chapter 11 case that the machinery, equipment and real estate ... (more story)
A trial attorney who spent the past four years at Lewis Brisbois, has moved his practice to Fox Rothschild LLP and told Law360 Pulse in an interview Wednesday that his new role continued a family tradition of ... (more story)
Bankrupt natural gas contractor Zachry Holdings has objected to a Nebraska public electric utility's administrative claim seeking $38 million in damages for delays in the construction of new generating station... (more story)
A New York bankruptcy judge questioned Tuesday whether he could order former New York City Mayor Rudy Giuliani to sell off real estate to cover claims against his Chapter 11 estate, saying an order dismissing ... (more story)
Unsecured creditors of the bankrupt Roman Catholic Diocese of Burlington on Tuesday objected to the debtor continuing to pay pension benefits to retired priests accused of abusing children, saying the diocese'... (more story)