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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.
Incora Uptier Fight Lays Bare Risks For Private Equity Backers
In the bruising battles for position among lenders to debt-laden companies, private equity firms often remain relatively unscathed. But a case in Texas federal court over so-called creditor-on-creditor violence now threatens to punish buyout shop Platinum Equity for orchestrating an ill-fated debt exchange, potentially sending a chill over the market for liability management deals.
How COVID Put TGI Fridays On The Path To Bankruptcy
After a tough five years in which TGI Fridays saw two scuttled acquisitions, a shrinking footprint and attempts to offset COVID-19 pandemic losses, the dining chain known for its peppy atmosphere, comfort food and cocktails became one of the latest restaurant groups to hit Chapter 11.
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.
Incora Uptier Fight Lays Bare Risks For Private Equity Backers
In the bruising battles for position among lenders to debt-laden companies, private equity firms often remain relatively unscathed. But a case in Texas federal court over so-called creditor-on-creditor violence now threatens to punish buyout shop Platinum Equity for orchestrating an ill-fated debt exchange, potentially sending a chill over the market for liability management deals.
How COVID Put TGI Fridays On The Path To Bankruptcy
After a tough five years in which TGI Fridays saw two scuttled acquisitions, a shrinking footprint and attempts to offset COVID-19 pandemic losses, the dining chain known for its peppy atmosphere, comfort food and cocktails became one of the latest restaurant groups to hit Chapter 11.
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Large Cap More
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.
Lenders of bankrupt retail-focused holding company Franchise Group Inc., including Pacific Investment Management Co. and private equity firm Irradiant Partners, have urged a Delaware bankruptcy judge to end ho... (more story)
Discount retailer Big Lots on Thursday asked a Delaware bankruptcy judge to approve a $760 million asset sale to a private equity group and override creditor objections to the inclusion of potential litigation... (more story)
A New York bankruptcy judge on Thursday said he would accept filings seeking recognition of the Brazilian insolvencies of two of four debtors in the corporate family of concrete supplier InterCement, but would... (more story)
A Delaware bankruptcy judge on Thursday approved American Tire Distributors Inc.'s $250 million Chapter 11 loan after the company resolved a lender group's challenge to the financing that threatened to upend the case.
Swedish electric vehicle battery maker Northvolt AB filed a Chapter 11 case in Texas bankruptcy court Thursday, saying it wants to find a partner to enable the company's innovation to continue in the burgeonin... (more story)
Mid Cap More
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)
The former CEO of Kansas' now-shuttered Heartland Tri-State Bank has been banned by the federal government from being a part of the banking industry after stealing $47.1 million from the bank to give to crypto... (more story)
A Delaware bankruptcy judge on Friday approved the $72.5 million sale of Jordan Health, the corporate parent of medical equipment company Avante Health, to an affiliate of Staple Street Capital after the debto... (more story)