January 29, 2025
A New York bankruptcy judge Wednesday agreed to delay a hearing on Reed Smith's fees in the Eletson Holdings bankruptcy case while the reorganized debtor probes Reed Smith's alleged past ties with Eletson executives.
January 27, 2025
From a looming settlement in the Purdue bankruptcy to a pair of retailers overcoming objections to their Chapter 11 plans, here are some of the biggest bankruptcy news from the past week.
January 24, 2025
A New York bankruptcy judge on Friday ruled former shareholders and executives of Greek shipping group Eletson Holdings Inc. must comply with the court's confirmed Chapter 11 plan, directing them to assist in updating the reorganized company's address of record with the Liberian International Ship & Corporate Registry.
January 13, 2025
Former New York City Mayor Rudy Giuliani was held in contempt for a second time, Johnson & Johnson's bankrupt spinoff called Brown Rudnick's bid to represent an official committee of talc claimants "an ethical violation," and the federal government objected to a $535 million settlement that bankrupt talc supplier Whittaker Clark & Daniels reached regarding talc claims in its New Jersey Chapter 11 case.
January 10, 2025
Reorganized international shipping group Eletson Holdings Inc. has urged a New York bankruptcy judge to order Reed Smith to return fees it was paid for representing the company in its Chapter 11, alleging the law firm "deliberately concealed" that it was simultaneously working for Eletson's former officers in a move that destroyed value for creditors during the case.
January 06, 2025
The new owners of reorganized Greek shipping group Eletson Holdings Monday brought a reworked request that a New York bankruptcy judge threaten its former owners and their counsel at Reed Smith with sanctions if they failed to update the company's ownership records.
December 16, 2024
The current and former owners of reorganized Greek shipping group Eletson Holdings clashed in New York bankruptcy court Monday over sanctions requested against Reed Smith LLP, the Chapter 11 counsel to the previous Eletson, and others in a dispute over implementing its confirmed bankruptcy plan that an attorney compared to the movie "Groundhog Day."
November 15, 2024
Gas tanker operator Eletson Holdings Inc. has opened an appeal of a New York bankruptcy judge's confirmation of a Chapter 11 plan proposed by petitioning creditors, according to a notice of the move.
November 08, 2024
The U.S. Trustee's Office took aim at the U.S. ties and motivations of a bankrupt defense contractor in Abu Dhabi, creditors of Eletson Holdings said they were still skeptical of Reed Smith LLP's work in the company's contentious Chapter 11 case and a Navajo Nation-owned energy company argued that a reorganized coal miner is trying to use a typo to boost royalty payments.
November 04, 2024
Facing a litigation stay deadline after the U.S. Supreme Court overturned its Chapter 11 plan, OxyContin maker Purdue Pharma was given a new one-month extension of the stay so that its creditors and the Sacklers can continue mediating to settle claims.