For These Victims, Death Came Before Bankruptcy Resolution
Thousands of people have died with no compensation in recent years as big institutions shield themselves in bankruptcy court from claims related to opioids, fraud, asbestos and sexual abuse, plaintiffs' lawyers say. Critics say it's an inherent part of a bankruptcy court system that helps insiders and hurts creditors.
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Under The Radar: Bankruptcy News You May Have Missed
A onetime financial adviser to UpHealth is opposing the debtor's Chapter 11 plan, Hearthside Food Solutions' official committee of unsecured creditors has balked at the company's executive bonus proposal in bankruptcy, and one-time investors in defunct real estate investment firm RealtyShares willingly dismissed a suit against the firm's former directors, litigation that had outlived the firm's Chapter 7 by more than a year.
Lessons From The 'Must-Read' Yellow Corp. WARN Decision
A Delaware bankruptcy judge's finding that defunct trucking giant Yellow Corp. violated the Worker Adjustment and Retraining Notification Act is a "must-read" for bankruptcy attorneys that has broad lessons for other cases and highlights the importance of paying attention to the details of the statute, experts told Law360.
For These Victims, Death Came Before Bankruptcy Resolution
Thousands of people have died with no compensation in recent years as big institutions shield themselves in bankruptcy court from claims related to opioids, fraud, asbestos and sexual abuse, plaintiffs' lawyers say. Critics say it's an inherent part of a bankruptcy court system that helps insiders and hurts creditors.
Under The Radar: Bankruptcy News You May Have Missed
A onetime financial adviser to UpHealth is opposing the debtor's Chapter 11 plan, Hearthside Food Solutions' official committee of unsecured creditors has balked at the company's executive bonus proposal in bankruptcy, and one-time investors in defunct real estate investment firm RealtyShares willingly dismissed a suit against the firm's former directors, litigation that had outlived the firm's Chapter 7 by more than a year.
Lessons From The 'Must-Read' Yellow Corp. WARN Decision
A Delaware bankruptcy judge's finding that defunct trucking giant Yellow Corp. violated the Worker Adjustment and Retraining Notification Act is a "must-read" for bankruptcy attorneys that has broad lessons for other cases and highlights the importance of paying attention to the details of the statute, experts told Law360.
Expert Analysis
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Large Cap More
A Texas bankruptcy judge Friday gave Zips Car Wash permission to draw on $20 million in Chapter 11 financing under terms that will see the vehicle-cleaning chain seeking court approval for its equity-swap rest... (more story)
The Roman Catholic Diocese of Syracuse asked a New York bankruptcy judge to appoint a representative for currently unknown sexual abuse claimants and to extend the deadline for the representative to vote on th... (more story)
The England and Wales-based subsidiary of a Mexican industrial equipment leasing and financing group on Friday received Chapter 15 recognition of its U.K. restructuring from a New York bankruptcy judge, who ex... (more story)
Defunct law firm LeClairRyan PLLC's operating agreement did not bar founder Gary LeClair from jumping ship from the firm in time to potentially dodge massive tax bills tied to the firm's collapse, the Fourth C... (more story)
A Delaware bankruptcy judge has declined to approve the disclosure statement for Franchise Group Inc.'s Chapter 11 plan, calling it not "fully baked" and saying the debtor should wait until after the date it i... (more story)
Bankrupt hospital operator Prospect Medical has agreed to put its four Philadelphia-area hospitals under receivership for the next 30 days while it hammers out a sale as part of a funding arrangement that a Te... (more story)
Wheel manufacturer Accuride Corp. received a Delaware bankruptcy judge's approval Thursday to tack on another $20 million to its Chapter 11 financing, funds that the company said it will use to support operati... (more story)
Zips Car Wash LLC and nine affiliates filed for Chapter 11 protection in Texas, citing competition, climbing interest rates and nearly $654 million in funded debt, with a restructuring plan in hand to shave of... (more story)
Bankrupt trucking firm Yellow Corp. has secured a partial victory on summary judgment in a $540 million fight with several union pension funds, with a Delaware bankruptcy judge saying the funds set the company... (more story)
A California federal judge Thursday ordered Tom Girardi's psychiatric evaluation at a North Carolina federal prison to be extended by 15 days, and she also lectured Girardi's public defender while saying she "... (more story)
Mid Cap More
Attorneys from three firms are seeking to represent fintech customers in consolidated class claims in Colorado federal court against several banks over $85 million in funds that went missing after the failure ... (more story)
Former NFL player Bill Romanowski and wife Julie had their Chapter 11 bankruptcy case converted to a Chapter 7 on Friday, after a California judge called a filing from the couple seeking the case's dismissal f... (more story)
Two manufacturers of truck trailers have sued bankrupt trucking company KAL Freight Inc. in Texas bankruptcy court, saying the company ran a scheme to improperly take ownership of hundreds of trailers without paying for them.
A Florida federal judge has ruled that a Mexican oil company can use information on dismissed NAFTA arbitration and other documents in a bid to disqualify former counsel Quinn Emanuel, saying the evidence is r... (more story)
Private equity investment group Aztec Fund told a Texas bankruptcy judge Friday it will sell three office buildings and aim to liquidate through Chapter 11 to resolve a dispute over the insolvency case with Bank of America.
The attorneys who helped Earthlink investors score an $85 million settlement with the company after they said they were tricked into approving a $1.1 billion merger with a failing telecommunications company wi... (more story)
Bankrupt electric-engine developer First Mode Holdings Inc. can seek votes for its Chapter 11 plan after a Delaware bankruptcy judge on Thursday overruled an objection from its unsecured creditors over the bal... (more story)
Former shareholders and executives of Greek shipping group Eletson Holdings Inc. asked a New York bankruptcy judge for more time to comply with last month's order directing them to assist in updating the reorg... (more story)
A shuttered flooring company's sole shareholder is responsible for the company's sales and use tax liabilities that were outstanding after bankruptcy, a New Jersey state appeals court ruled, holding that the s... (more story)
The Eleventh Circuit said a mortgage servicing company illegally charged borrowers fees for online and phone payments, upholding a Florida federal court's decision that it improperly collected so-called pay-to... (more story)