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Catching Up With New Bankruptcy Case Action
A New Jersey-based generic-drug maker entered Chapter 11, listing up to $50 million in debt and saying two secured loans were inhibiting its growth. A media production company that helps brands like Target sought Chapter 11 protection and disclosed $53.5 million in liabilities, noting that its struggles included being overleveraged. And a sustainable resource recovery company entered Chapter 7 with liabilities exceeding $100 million.
Meet The Attys Illuminating Splashlight's Path Through Ch. 11
New York City-based media production company Splashlight Holding LLC has assembled a trio of attorneys from Goetz Platzer LLP to see it through the Chapter 11 case the debtor filed to sell its assets and address $53.5 million in liabilities.
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Willkie DQ'd, Guo Clawbacks Continue
Franchise Group must find new bankruptcy counsel after a judge in Delaware found Willkie Farr & Gallagher LLP was conflicted in its case. The court-appointed trustee investigating Miles Guo's shell companies got another deadline extension to chase down estate funds. Spirit Airlines is awaiting confirmation of its reorganization plan. And bankrupt bitcoin miner Rhodium Encore has hit back at its landlord in court, alleging a campaign of sabotage.
Catching Up With New Bankruptcy Case Action
A New Jersey-based generic-drug maker entered Chapter 11, listing up to $50 million in debt and saying two secured loans were inhibiting its growth. A media production company that helps brands like Target sought Chapter 11 protection and disclosed $53.5 million in liabilities, noting that its struggles included being overleveraged. And a sustainable resource recovery company entered Chapter 7 with liabilities exceeding $100 million.
Meet The Attys Illuminating Splashlight's Path Through Ch. 11
New York City-based media production company Splashlight Holding LLC has assembled a trio of attorneys from Goetz Platzer LLP to see it through the Chapter 11 case the debtor filed to sell its assets and address $53.5 million in liabilities.
Willkie DQ'd, Guo Clawbacks Continue
Franchise Group must find new bankruptcy counsel after a judge in Delaware found Willkie Farr & Gallagher LLP was conflicted in its case. The court-appointed trustee investigating Miles Guo's shell companies got another deadline extension to chase down estate funds. Spirit Airlines is awaiting confirmation of its reorganization plan. And bankrupt bitcoin miner Rhodium Encore has hit back at its landlord in court, alleging a campaign of sabotage.
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Large Cap More
A former Perella Weinberg partner on Wednesday testified that he had no plans to break off and start his own restructuring advisory shop before the investment banking firm fired him for purportedly violating h... (more story)
A top executive of Johnson & Johnson's latest talc spinoff spent a day on the stand in a Texas bankruptcy court taking questions regarding the company's relationship with Johnson & Johnson and its plans to set... (more story)
Bankrupt hospital operator Prospect Medical Holdings is seeking to convince a Connecticut federal judge to have a bankruptcy court oversee a $435 million lawsuit through which Yale New Haven Health is trying t... (more story)
The backup bidder for Alex Jones' Infowars program has asked a Texas bankruptcy judge to restart an auction for the assets after a previous sale to the parent company of satirical newspaper The Onion was rejected in December.
Investment adviser Silver Point Capital LP said it did not need to write special rules banning a now-deceased former BigLaw bankruptcy attorney from sharing information between its business units, accusing the... (more story)
A Texas bankruptcy judge on Wednesday approved a request from Conn's, a furniture and appliance retailer, for permission to sell some of its Florida-based subsidiary's real estate to auto parts chain AutoZone ... (more story)
Retail chain operator Franchise Group Inc. and a group of lenders told a Delaware bankruptcy judge on Wednesday they were close to agreeing on a disclosure statement for Franchise Group's Chapter 11 plan that ... (more story)
Hospital operator Steward Healthcare cleared up the only objection to hiring a second law firm in its Texas Chapter 11, striking an agreement with the Office of the U.S. Trustee to limit services it plans to s... (more story)
Counsel for Tupperware told the Delaware bankruptcy court Wednesday the company needed more time to propose a confirmable Chapter 11 plan after it sold its business to a group of secured lenders.
A Texas bankruptcy judge asked prison healthcare provider Wellpath Holdings to revise its proposed Chapter 11 plan disclosure statement after a lengthy hearing Tuesday where Wellpath underlined its need to qui... (more story)
Mid Cap More
A New Jersey lawyer is blocked from filing new petitions in Southern District of New York bankruptcy court and must pay a $2,000 fine to a local Legal Aid Society following an alleged pattern of filing and the... (more story)
Biotech company Biora Therapeutics Inc. received final approval Wednesday for its $46 million Chapter 11 financing package after the postpetition lenders and the unsecured creditors committee reached a deal to... (more story)
The U.S. Trustee's Office has appointed seven parties, including landlords and vendors, to the official committee of unsecured creditors in the Chapter 11 case of Liberated Brands, as the clothing retailer wor... (more story)
Nikola Corp., maker of electric and hydrogen-powered trucks, filed for Chapter 11 bankruptcy protection Wednesday in Delaware, listing about $98 million of funded debt and blaming a sprawling battery pack reca... (more story)
A New York federal judge granted a request by the purported new owners of Eletson Holdings Inc. and removed Reed Smith LLP as counsel in a $102 million breach of contract suit the firm brought on behalf of the... (more story)
A New York bankruptcy judge has said a 588-bed nursing home can shut its doors if the state's Department of Health will sign off on the debtor's plan to close the facility, after the company asked for permissi... (more story)
The U.S. Trustee's Office is opposing some of the nearly $52 million in fees billed by Jones Day lawyers for their work as debtors' lead counsel for the Catholic diocese on New York's Long Island, as total fee... (more story)
Healthcare system SVCMC Inc. will pay $29 million to resolve allegations it held onto erroneous overpayments for medical services provided to retired military members and their families, the U.S. Department of... (more story)
Omega Therapeutics, which develops mRNA vaccines, filed proposed bidding procedures in Delaware bankruptcy court, saying it hopes to get a sale approved by mid-April and has a stalking-horse bid in hand worth ... (more story)
The 61-year-old Wall Street municipal bond investment firm Stoever Glass & Co. Inc. has filed for Chapter 7, reporting liabilities of up to $10 million and assets of less than $1 million.