May 03, 2023
The Third Circuit on Tuesday dismissed the Dutch government's appeal of a district court's refusal to certify a question to the Arizona Supreme Court about a bankruptcy judge's approval of a $210 million debt-for-equity sale of former Lynn Tilton-led MD Helicopters Inc., saying it lacks jurisdiction over the nonfinal order.
June 21, 2022
Cosmetics behemoth Revlon Inc. filed for bankruptcy in the midst of a liquidity crisis, a South American airline brings its Chapter 11 plan in for a landing, and the next phase in Puerto Rico's restructuring nears a creditor vote. This is the week in bankruptcy.
June 17, 2022
Former Lynn Tilton-led MD Helicopters Inc. secured a Delaware bankruptcy judge's approval Friday for a $210 million debt-for-equity sale to a creditor group, overcoming the Dutch government's objection that the deal wrongly excluded a $16.1 million judgment lien it won in an Arizona court.
June 15, 2022
Former Lynn Tilton-piloted MD Helicopters Inc. has landed a mediated $31.5 million federal False Claims Act settlement with the U.S. Department of Justice and whistleblowers, saying in a Delaware bankruptcy court filing that the deal heads off nearly $110 million in triple damages liability in Alabama.
June 07, 2022
The U.S. Supreme Court has struck down a law raising U.S. Trustee's Office fees, podcast conspiracy theorist Alex Jones is dropping Infowars' Chapter 11 case, and the Carolina Panthers' owner moved a real estate development venture into bankruptcy. This is the week in bankruptcy.
June 07, 2022
Arizona-based MD Helicopters Inc. told a Delaware bankruptcy judge Tuesday that it has accepted a $210 million credit bid for its assets, saying no other qualified buyers stepped up to challenge the stalking horse offer from a creditor consortium.
June 01, 2022
The bankrupt Diocese of Camden received approval for its Chapter 11 plan disclosures with warnings from the court, Sidley Austin was found not to be conflicted when it represented the Boy Scouts of America, and Arizona law doomed a $16 million lien claim asserted by the Dutch government in the MD Helicopters bankruptcy. This is the week in bankruptcy.
May 26, 2022
A Delaware bankruptcy judge ruled Thursday that a $16.1 million judgment lien held by the Dutch government against bankrupt aviation company MD Helicopters did not attach to the debtor's manufacturing facility in Arizona, saying state law there classified leasehold interests as personal property rather than real property.
May 19, 2022
The government of the Netherlands argued in support of its $15.5 million priority lien against bankrupt MD Helicopters Inc., saying Arizona law governing leases on real property clearly weighed in favor of the nation's claim on the debtor's Mesa manufacturing facility.
May 16, 2022
MD Helicopters Inc. told a Delaware bankruptcy judge that the government of the Netherlands does not hold a $15.5 million senior lien on its Arizona manufacturing plant, saying it simply does not own any real property to which the lien could attach.