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Catching Up With New Bankruptcy Case Action
Restaurant chain Hooters launched a Chapter 11 case with about $380 million in debt, saying it has reached a deal to shed its company-owned restaurants and trade debt for equity. Gastropub chain Bar Louie filed for bankruptcy, listing nearly $70 million of debt, about five years after its creditors took over the business during a previous bankruptcy. And a sustainability-focused financial services company filed for Chapter 11 less than a month after the firm's founder was arrested and charged with fraud.
Meet The Attorneys Directing Hooters' Ch. 11
A team of lawyers from Foley & Lardner LLP and Ropes & Gray LLP is leading the bankruptcy case for the restaurant chain Hooters, which has reached a deal to shed its company-owned locations and exchange trade debt for equity.
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.
Catching Up With New Bankruptcy Case Action
Restaurant chain Hooters launched a Chapter 11 case with about $380 million in debt, saying it has reached a deal to shed its company-owned restaurants and trade debt for equity. Gastropub chain Bar Louie filed for bankruptcy, listing nearly $70 million of debt, about five years after its creditors took over the business during a previous bankruptcy. And a sustainability-focused financial services company filed for Chapter 11 less than a month after the firm's founder was arrested and charged with fraud.
Meet The Attorneys Directing Hooters' Ch. 11
A team of lawyers from Foley & Lardner LLP and Ropes & Gray LLP is leading the bankruptcy case for the restaurant chain Hooters, which has reached a deal to shed its company-owned locations and exchange trade debt for equity.
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.
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Large Cap More
A New York bankruptcy judge on Tuesday recognized cement supplier InterCement's reorganization efforts in Brazil, overruling an objection from an ad hoc group of New York noteholders that said a subsidiary's r... (more story)
A Texas bankruptcy judge on Tuesday agreed to dismiss the Chapter 11 cases of electric vehicle battery maker Northvolt AB at the company's request, after its parent commenced a bankruptcy case in Sweden.
Talc injury claimants on Tuesday asked the Third Circuit to dismiss Whittaker Clark & Daniels' Chapter 11 case, saying a South Carolina state judge had given control of the talc supplier to a receiver six week... (more story)
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)
Mid Cap More
A Delaware bankruptcy judge on Tuesday approved Heritage Coal owner KTRV's bid to continue using cash to support its operations as the company works to strike a settlement with secured lender Bedrock Industries.
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)