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Diamond Sports Restructuring May Fail As Goalposts Move
Regional sports network owner Diamond Sports Group touted its recently confirmed Chapter 11 plan as a "miracle" that restructured billions of dollars of debt and positioned it well for post-bankruptcy success, but industry analysts say the challenges facing the business could be insurmountable.
Meet The Attys Driving Car Financing Co. Vroom's Ch. 11
Vroom Inc., a financing company and former online used car seller, filed for bankruptcy in Texas earlier this month with plans to exchange nearly all of its $290 million in debt for equity under a Chapter 11 road map approved by most creditors. Behind the wheel of its bankruptcy are a team of Porter Hedges LLP attorneys who have worked on a number of recent high-profile cases.
How Spirit Airlines Landed In Bankruptcy Court
Ultra-low-cost airline Spirit has always been more susceptible to inflationary pressures than its costlier competitors, but its failed merger earlier this year with JetBlue left it drifting toward a prearranged Chapter 11 on Monday to trim its $3.6 billion in funded debt.
Diamond Sports Restructuring May Fail As Goalposts Move
Regional sports network owner Diamond Sports Group touted its recently confirmed Chapter 11 plan as a "miracle" that restructured billions of dollars of debt and positioned it well for post-bankruptcy success, but industry analysts say the challenges facing the business could be insurmountable.
Meet The Attys Driving Car Financing Co. Vroom's Ch. 11
Vroom Inc., a financing company and former online used car seller, filed for bankruptcy in Texas earlier this month with plans to exchange nearly all of its $290 million in debt for equity under a Chapter 11 road map approved by most creditors. Behind the wheel of its bankruptcy are a team of Porter Hedges LLP attorneys who have worked on a number of recent high-profile cases.
How Spirit Airlines Landed In Bankruptcy Court
Ultra-low-cost airline Spirit has always been more susceptible to inflationary pressures than its costlier competitors, but its failed merger earlier this year with JetBlue left it drifting toward a prearranged Chapter 11 on Monday to trim its $3.6 billion in funded debt.
Expert Analysis
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Large Cap More
Bankrupt trucking firm Yellow Corp. said it had resolved all objections to its Chapter 11 plan disclosure statement Thursday, and a Delaware judge agreed to approve the document once it was updated to reflect the changes.
Following a series of high-level corporate and finance hires this year, Linklaters announced Thursday that it is hiring the former co-leader of Mayer Brown LLP's infrastructure mergers and acquisitions practic... (more story)
The Cayman Island liquidators of luxury fashion e-commerce company Farfetch Ltd. have asked a Delaware bankruptcy judge to make the debtor's former legal advisers at Latham & Watkins cough up documents related... (more story)
A Delaware bankruptcy judge Wednesday gave an examiner in the Chapter 11 case of FTX Trading permission to wind down his investigation and for discovery to continue in an attempt to undo a $240 million payment... (more story)
A Texas bankruptcy judge on Wednesday pushed a decision on the Chapter 11 plan for the former e-commerce unit of shipping group Pitney Bowes to Monday after the U.S. trustee and Trilogy Leasing Co. LLC, the de... (more story)
Counsel for Tom Girardi told a federal judge the disbarred attorney is plainly mentally incompetent and deserves a new trial over charges he defrauded clients of $15 million worth of settlement money.
More than 150 lawyers, investment bankers and financial advisers representing the creditors committee of bankrupt OxyContin maker Purdue Pharma LP billed $21.2 million as the high-stakes case reignited this su... (more story)
Beasley Allen Law Firm accused a Johnson & Johnson talc unit of using "deposition notices as weapons" in its quest to sanction a firm lawyer, while the company said the firm "refused to meaningfully subject it... (more story)
A Manhattan federal judge allowed tech expert Zixiao "Gary" Wang to avoid jail Wednesday for his role in the $11 billion FTX fraud, crediting his effort to detail programming "back doors" that enabled Sam Bank... (more story)
A Texas bankruptcy judge on Tuesday approved embattled medical system CareMax's bid to borrow a share of the $122 million in Chapter 11 financing its senior lenders have extended to help fund the company's ope... (more story)
Mid Cap More
A British Columbia-based utility services provider filed for Chapter 15 bankruptcy protection Thursday in Delaware seeking recognition of a Canadian receivership placed on the business by a court there, saying... (more story)
A UAE bank has lost its claim against a businessman's family over an alleged £19 million ($24 million) debt, after a London judge ruled Thursday that the lender failed to prove that the businessman had intenti... (more story)
Creditors who were repaid after a bankruptcy is filed are eligible to later join an involuntary insolvency petition, a bankruptcy appellate panel for the Ninth Circuit has found, overturning a lower court's de... (more story)
The U.S. Consumer Financial Protection Bureau has served a subpoena on the Chapter 11 trustee in charge of collapsed California debt relief law firm Litigation Practice Group's bankruptcy estate, the trustee's... (more story)
A Texas bankruptcy judge on Wednesday approved TGI Fridays' procedures for contacting and selecting prospective buyers for its assets after the struggling restaurant chain said it was in discussions with at le... (more story)
The founder of AllHere Education Inc., a startup venture that sold artificial intelligence-powered chatbots to schools, is charged with fleecing investors out of nearly $10 million by lying about the company's... (more story)
A California judge on Tuesday asked bankrupt San Jose hotel owner SC SJ Holdings for more information about who owns the cash management account that the debtor wants to use to keep operating during its second... (more story)
Two of Rudy Giuliani's attorneys doubled down Tuesday on their attempt to withdraw as counsel in the $148 million defamation case against him, saying in a redacted letter that the two Georgia poll workers hopi... (more story)
A Delaware bankruptcy judge Tuesday gave truck rental business Fluid Market Inc. permission to take out Chapter 11 financing and accept a baseline bid for its assets after hearing the company's unsecured credi... (more story)
Right-wing media fabulist Alex Jones asked a Texas bankruptcy judge to stop the sale of his Infowars website to satirical news publisher The Onion, arguing that the winning bid violated the court's bidding procedures order.