Mid Cap
-
November 15, 2024
Ex-Freshfields Partner Suspended Over Inappropriate Conduct
A former partner with Freshfields will face a two-year suspension and a costs bill of £66,000 ($83,500), the profession's disciplinary tribunal has ruled after finding that he had engaged in "inappropriate and unwanted conduct" while employed at the firm.
-
November 14, 2024
Inflation, Election Anxiety Drove Bankruptcy Hike, Experts Say
Bankruptcy filings for both businesses and consumers have risen by 16% over the past year, with factors such as inflation, residual impacts of high interest rates, the COVID-19 pandemic, and macroeconomic uncertainties in the run-up to a contentious presidential election as key drivers, restructuring experts told Law360.
-
November 14, 2024
Giuliani Attys Signal Impasse In Bid To Exit Collection Cases
Attorneys representing disgraced ex-lawyer Rudy Giuliani asked a New York federal court to allow them to withdraw from representing him in a pair of cases from former Georgia poll workers seeking to collect a $148 million defamation award against him, indicating they are at odds with the onetime New York City mayor.
-
November 14, 2024
Louisiana Oil Field Co. Hits Ch. 11 Again With $115M Debt
PetroQuest Energy Inc., an oil and gas exploration company, filed for bankruptcy in Delaware reporting $115.5 million in debt with plans to sell its Texas operations five years after it exited Chapter 11 in 2019.
-
November 14, 2024
The Onion Buys Alex Jones' Infowars At Ch. 7 Auction
Satirical news website The Onion has purchased Alex Jones' Infowars at a Chapter 7 bankruptcy auction, according to a Thursday announcement by the firm representing Sandy Hook shooting survivors who won a $1.4 billion defamation award over his claims the massacre was a hoax.
-
November 13, 2024
Q&A With FTX Lead Ch. 11 Atty Andy Dietderich — Part II
Sullivan & Cromwell LLP's Andy Dietderich led the legal team that represented FTX Trading Ltd. in its two-year-long, $14 billion-plus Chapter 11 case — from shortly before the company's bankruptcy filing in Delaware to its recent successful confirmation hearing.
-
November 13, 2024
Judge To Confirm Ambri Ch. 11 Wind-Down Plan
A Delaware bankruptcy judge Wednesday agreed to approve the Chapter 11 plan of battery company Ambri Inc., which will sell its assets to its lenders and wind down.
-
November 13, 2024
Sticky's Chicken Gets OK For 3-Year Ch. 11 Plan
A Delaware bankruptcy judge Wednesday confirmed the Chapter 11 plan of popular New York-area chicken restaurant chain Sticky's that includes a $300,000 equity infusion from existing investors.
-
November 13, 2024
Catching Up With New Bankruptcy Case Action
Former used-car retailer Vroom, prison healthcare provider Wellpath and film production services company Film Finances have all filed for Chapter 11 bankruptcy protection, citing economic difficulties in the wake of the COVID-19 pandemic.
-
November 13, 2024
Blink Fitness Gets OK For $121M Sale To PureGym
A Delaware bankruptcy judge has approved Blink Fitness' $121 million sale of its assets to U.K.-based PureGym Ltd., whose subsidiary won an auction held late last month, overruling objections over the auction's fairness as unfounded.
-
November 13, 2024
Instant Brands Equity Owner Accused Of Lying To Lenders
The litigation trustee for bankrupt kitchenware maker Instant Brands Wednesday filed suit in Texas bankruptcy court accusing the company's equity owner of lying to lenders and sending the company into Chapter 11 in order to collect $200 million in dividends.
-
November 13, 2024
Gritstone Bio Can Tap $25M New DIP As It Works Toward Sale
Vaccine developer Gritstone bio Inc. won a Delaware bankruptcy judge's approval Wednesday to borrow $25 million in new financing to support itself in Chapter 11 as the biotechnology company works to find a buyer.
-
November 13, 2024
Jackson Walker Must Supply Docs In Judge-Atty Affair Probe
The Texas federal court overseeing a U.S. Trustee's Office probe of a former Jackson Walker LLP partner's undisclosed relationship with a then-bankruptcy judge has given the firm until Friday to turn over its communications with public relations firms and pages from its attorney sourcebook.
-
November 13, 2024
Goulston & Storrs Real Estate Attys Talk Distress Playbook
As commercial real estate distress continues to play out, attorneys are seeing lenders adopt new strategies to save or reduce their exposure to troubled assets, sometimes working in tandem with investors looking to purchase such loans.
-
November 13, 2024
Online Car Financing Co. Vroom Crashes Into Ch. 11
Former used car seller and financier Vroom Inc. filed for Chapter 11 bankruptcy Wednesday in Texas with a prepackaged plan to swap $290 million of debt for the bulk of the equity in a reorganized business.
-
November 12, 2024
Q&A With FTX Lead Ch. 11 Atty Andy Dietderich — Part I
Sullivan & Cromwell LLP's Andy Dietderich led the legal team that represented FTX Trading Ltd. in its two-year-long, $14 billion-plus Chapter 11 case — from shortly before the company's bankruptcy filing in Delaware to its recent successful confirmation hearing.
-
November 12, 2024
3rd Circ. Weighs Boy Scouts Ch. 11, Calif. AG Balks At Fee Bid
The Third Circuit heard arguments on Boy Scouts of America's Chapter 11 plan from sexual abuse survivors as well as insurers, California's attorney general disputed Sullivan & Cromwell's fee requests in Kidde-Fenwal Inc.'s bankruptcy, and the U.S. trustee is seeking documents from Jackson Walker LLP regarding a former attorney's secret relationship with a bankruptcy judge. This is the week in bankruptcy.
-
November 12, 2024
Biolase Strikes Deal With Creditors For Sale, Final DIP
A Delaware bankruptcy judge agreed Tuesday to approve a $20 million sale and a final debtor-in-possession loan for dental technology maker Biolase Inc., which reported it worked out a deal and revised budget for the company's Chapter 11 to quell objections from the official committee of unsecured creditors.
-
November 12, 2024
Former FTX Top Atty Joins Lowenstein Sandler In NY
Lowenstein Sandler LLP announced Tuesday that the former general counsel at crypto exchange FTX will join the firm's New York office as a partner and chair of its new commodities, futures and derivatives practice group.
-
November 12, 2024
DLA Piper Bolsters Restructuring Practice With Dechert Pro
DLA Piper has hired an experienced restructuring expert from Dechert LLP to its practice in London, as the firm braces for continued global financial distress driven by geopolitical turmoil and macroeconomic headwinds.
-
November 18, 2024
Davis Polk Hires Sidley Restructuring Heads In London
Davis Polk & Wardwell LLP has hired two restructuring experts as partners in its London office, where they will advise a wide range of clients on financially troubled companies.
-
November 08, 2024
5th Time Not The Charm For 'Stale' Dow Implant Check Fight
The Sixth Circuit has again rejected an appeal from South Korean claimants who sought replacement checks from a Dow Corning breast implant settlement fund, finding in claimants' fifth trip to the appeals court that they missed their window to cash their duly disbursed settlement checks.
-
November 08, 2024
Under The Radar: Bankruptcy News You May Have Missed
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 08, 2024
Crypto Miner, Landlord Seek Early Wins In Ch. 11 Dispute
Bankrupt cryptocurrency mining company Rhodium Encore and landlord Whinstone US Inc. pushed respective bids for early wins Friday in Texas court as they prepare for trial over a contract assumption dispute.
-
November 08, 2024
Judge Will Give Solar Co. $3M Interim Lifeline In Ch. 11
A Delaware bankruptcy judge said Friday she will grant Oya Renewables, a solar energy producer with offices in Boston and Toronto, interim access to $3 million in postpetition funding on offer from its Chapter 11 stalking horse bidder once some final modifications are made.