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Ex-US Trustee Head Appeals Firing, Purdue Case Extended
The former director of the U.S. Trustee's Office appealed her removal, alleging the government lacked cause and violated due process. Meanwhile, Purdue Pharma secured more time to protect itself and the Sackler family from lawsuits as the company seeks approval for a $7.4 million opioid settlement plan. And FTX told a court it has $11.4 billion ready for creditors but is still reviewing a massive volume of claims before the distribution.
Meet The Attys Helping White Forest Mine Its Assets
West Virginia coal producer White Forest Resources Inc. has called upon attorneys from Chipman Brown Cicero & Cole LLP to see it through the Chapter 11 process as it looks to sell one of its two mines.
Under The Radar: Bankruptcy News You May Have Missed
A major producer of gypsum products is trying to get a sinkhole claim that is roughly two decades old tossed, a trust for FTX creditors is trying to claw back $90 million in frozen funds, and a talc miner's insurers are asking a court to reject its bankruptcy plan.
Ex-US Trustee Head Appeals Firing, Purdue Case Extended
The former director of the U.S. Trustee's Office appealed her removal, alleging the government lacked cause and violated due process. Meanwhile, Purdue Pharma secured more time to protect itself and the Sackler family from lawsuits as the company seeks approval for a $7.4 million opioid settlement plan. And FTX told a court it has $11.4 billion ready for creditors but is still reviewing a massive volume of claims before the distribution.
Meet The Attys Helping White Forest Mine Its Assets
West Virginia coal producer White Forest Resources Inc. has called upon attorneys from Chipman Brown Cicero & Cole LLP to see it through the Chapter 11 process as it looks to sell one of its two mines.
Under The Radar: Bankruptcy News You May Have Missed
A major producer of gypsum products is trying to get a sinkhole claim that is roughly two decades old tossed, a trust for FTX creditors is trying to claw back $90 million in frozen funds, and a talc miner's insurers are asking a court to reject its bankruptcy plan.
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Large Cap More
Restaurant chain Hooters filed for Chapter 11 protection in a Texas bankruptcy court late Monday with about $380 million in debt, saying it has reached a deal to shed its company-owned restaurants and trade debt for equity.
A Texas bankruptcy judge rejected Johnson & Johnson's third attempt to use Chapter 11 to settle thousands of claims that its products caused cancer, dismissing J&J unit Red River Talc's Chapter 11 case on Mond... (more story)
The recovery trust created under the Chapter 11 plan of defunct cryptocurrency exchange FTX has asked the Delaware bankruptcy court for permission to serve people and entities related to Binance Holdings via a... (more story)
The U.S. Trustee's Office is asking a Delaware bankruptcy judge to reject Imerys Talc America's Chapter 11 plan, saying the talc supplier wants to grant excessively broad claims releases to third parties witho... (more story)
Carlton Fields faces a disqualification bid for allegedly having a conflict of interest in a $500 million lawsuit regarding the ownership of the company that runs the Miss America pageant.
Furniture and appliance retailer Conn's Inc. received a Texas bankruptcy judge's approval Monday to pay a group of former W.S. Badcock dealers about $2 million to settle their potential claims in the Chapter 1... (more story)
Los Angeles federal prosecutors said Girardi Keese's former head of accounting should spend 10 years in prison after pleading guilty to assisting Tom Girardi in siphoning clients' settlement funds and what the... (more story)
The committee of unsecured creditors of bankrupt retailer Conn's Inc. has urged a Texas bankruptcy judge to reject the company's bid to amend its debtor-in-possession financing to pay a lender $4 million to pr... (more story)
Bankrupt drugmaker Purdue Pharma LP received a further extension of a bar on litigation against the company and its owners in the Sackler family as the debtor pursues a late May approval of a disclosure statem... (more story)
The former director of the Department of Justice's U.S. Trustee Program, which oversees bankruptcy proceedings, has filed an appeal of her termination, saying it was without cause and violated her due process ... (more story)
Mid Cap More
An Arizona developer and his son tricked bondholders into investing $280 million in a Phoenix-area youth sports park by falsely promising "100% occupancy prior to breaking ground" in part via the use of forged... (more story)
A Texas bankruptcy judge said Monday that a committee to represent mineral rights owners in Scanrock Oil & Gas Inc.'s Chapter 11 isn't currently needed but that he would revisit a request to form one at a later date.
The owner and operator of a hotel in Southern California has received interim approval to finance its Chapter 11 case after it agreed to work with a creditor, who has accused the debtor of fraud, on a plan to ... (more story)
A bankrupt telecommunications company owner's $25 million arbitration against Costa Rica has been discontinued after the owner failed to show he could deposit and maintain a surety bond to secure the costs of ... (more story)
The Federal Trade Commission has added to the swell of privacy and security concerns surrounding the potential sale of sensitive consumer information swept up in the 23andMe bankruptcy, with the agency's Repub... (more story)
A cannabis producer in California has moved to enter receivership in state court, disclosing more than $173 million in liabilities and saying a 2023 merger with its parent company proved to be a "financial disaster."
Sustainability-focused financial services company Aspiration Partners Inc. filed for Chapter 11 protection in Delaware, less than a month after founder Joseph Sanberg was arrested and hit with federal fraud charges.
Ejecutivos de Turismo Sustentable SA de CV, a business related to park and dolphin habitat operator The Dolphin Company, filed for bankruptcy Monday in Delaware with 14 affiliates and cited over $100 million in debt.
Heritage Coal and its owner KTRV have both filed for Chapter 11 protection in Delaware, saying Heritage's owner prior to KTRV has asserted ownership over the debtors' assets and taken steps to sabotage and van... (more story)
The Chapter 7 trustee for the Teams Systems International estate is opposing the withdrawal of law firm Cross & Simon from representing the defunct company and its principals in an adversary action alleging th... (more story)