Mid Cap
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November 07, 2024
Privilege Overruled In Firm's Suit Against Drinks Co. Founder
A Florida state court judge Thursday ordered the founder of the company that makes Bang Energy drinks to sit for a deposition in a lawsuit over unpaid fees brought by counsel who formerly represented him in a bankruptcy case, overruling attorney-client privilege asserted in a previous attempt to depose him.
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November 07, 2024
Blink Asks Court To OK Contested $121M Stalking Horse Sale
Two gym chains sparred over the assets of Blink Fitness Inc. in Delaware bankruptcy court Wednesday and Thursday, with a franchisee of U.S. mainstay Planet Fitness trying to upend a planned sale to the winning bidder, U.K.-based international gym operator PureGym Ltd.
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November 07, 2024
The Story Behind Global Wound Care Group's Ch. 11
Allegations of potential fraud at Global Wound Care Group helped drive it toward seeking bankruptcy protection in Texas, with a year-long federal investigation now hanging over its Chapter 11 case.
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November 07, 2024
Solar Energy Co. Hits Ch. 11 With $100M In Debt, Sale Plans
Oya Renewables, a solar energy producer with offices in Boston and Toronto, has filed for Chapter 11 protection in the Delaware bankruptcy court, disclosing at least $100 million in liabilities — including almost $87 million in funded debt — and plans to sell its assets, while blaming factors such as project delays and litigation for its liquidity crunch.
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November 07, 2024
Colo. Cannabis Co. Seeks Receivership As Part Of Wind Down
A branded cannabis consumer goods company asked a Colorado state court late Wednesday to appoint a receiver over its business as its Canadian parent company seeks to wind down its operations.
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November 07, 2024
Firm That Took Hurricane Victim Cases Wants Out Of Fee Row
A Louisiana law firm that took over now-bankrupt Houston plaintiffs firm MMA Law's hurricane victim cases is appealing a Houston bankruptcy's court's decision not to free it from a lawsuit claiming that it cut MMA out of its share of settlement fees.
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November 07, 2024
NC Court Refuses Law Firm Sanctions In Bankruptcy Fee Fight
A North Carolina business bankruptcy law firm and its founder have escaped sanctions for allegedly lying to a trial court about its communications in a fee dispute, as a state appellate court said the former client's sanctions motion must fail as a matter of law because he "unreasonably delayed" filing it.
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November 07, 2024
Del. Atty Will Co-Lead Lewis Brisbois' Bankruptcy Practice
Lewis Brisbois Bisgaard & Smith LLP recently announced that a partner who joined its Delaware office late last year has been appointed to co-chair the firm's bankruptcy and insolvency practice.
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November 06, 2024
Texas' MMA Sues Firm That Took Over Its Hurricane Cases
The bankrupt Houston plaintiffs' firm MMA Law has sued Daly & Black PC, the law firm that took over its clients, in Texas bankruptcy court seeking to claw back a cut of attorneys' fees from thousands of lawsuits it launched on behalf of hurricane victims in Louisiana.
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November 06, 2024
Grocery Co. Takeoff Reaches Deal To Avoid Ch. 7 Conversion
Grocery automation firm Takeoff Technologies reached a new settlement with its creditors and debtor-in-possession lenders that the debtor says paves the way for a Chapter 11 liquidation of its remaining assets instead of a Chapter 7 conversion
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November 06, 2024
Bankruptcy Judge OKs $54M Credit Bid For BurgerFi Assets
A Delaware bankruptcy judge said on Wednesday that he will approve a $10 million credit bid by BurgerFi International Inc.'s senior secured lender TREW Capital Management Private Credit 2 LLC to take over the burger chain's assets, as well as TREW's $44 million credit bid to acquire Anthony's Coal Fired Pizza & Wings.
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November 06, 2024
Texas Baptist Church Files Ch. 11 Bankruptcy
A Houston Baptist church has filed for a subchapter V small business Chapter 11 in a Texas bankruptcy court with more than $1 million in liabilities.
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November 06, 2024
FINRA Fines Firm Over Lax Real Estate Investment Diligence
The Financial Industry Regulatory Authority ordered broker-dealer XP to pay $800,000 in restitution and penalties to settle claims that, among other things, it recommended investments in a series of real estate-focused private placements without conducting proper due diligence on them, leading to investor losses when the offerings flopped.
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November 06, 2024
Meet The Attys Behind TGI Fridays' Bankruptcy
Casual dining chain TGI Fridays Inc. has assembled a team of lawyers from Ropes & Gray LLP and Foley & Lardner LLP to help it with the Chapter 11 it initiated in Texas to cope with almost $151 million in debt and pursue a sale.
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November 06, 2024
Lowenstein Sandler Sues Firm Over Dispensary Fee Dispute
A New Jersey law firm accused of helping forcibly dismantle a medical cannabis dispensary to deprive Lowenstein Sandler LLP of over $750,000 in fees for work on the dispensary's behalf has asked the New Jersey state court to let it exit the suit, arguing Lowenstein Sandler failed to state a claim.
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November 06, 2024
California Hotel Hits Ch. 11 For The 2nd Time In 3 Years
SC SJ Holdings, the owner of a San Jose, California, hotel that previously filed for bankruptcy in 2021, filed for Chapter 11 in a California bankruptcy court with $100 million to $500 million in debt.
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November 05, 2024
The Firms With An Inside Track To A New Trump Admin
Law firms that have represented Donald Trump and the Republican Party on everything from personal legal woes to election-related lawsuits could see the risks of that work pay dividends as Trump is projected to secure a second term in office.
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November 05, 2024
The Story Behind Vaccine Maker Gritstone's Ch. 11
Vaccine maker Gritstone bio Inc. hit Chapter 11 after a tightening investment market left it starved of the capital it needed to keep doing its research into preventative treatments for cancer, COVID-19 and HIV, according to court filings.
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November 05, 2024
Icon Aircraft Gets New Offer For Investor Claims
A Delaware bankruptcy judge approved a settlement between light-sport aircraft producer Icon and a group of its shareholders that sued the company in derivative litigation, while pushing back a confirmation hearing as the debtors consider a competing settlement offer.
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November 05, 2024
Bankruptcy Not Delaying NJ Health System's Antitrust Case
A New Jersey federal magistrate judge on Tuesday partly denied CarePoint Health Management's request to delay its antitrust case against RWJBarnabas Health Inc. because of CarePoint's recent bankruptcy filing.
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November 05, 2024
Film Production Services Co. Hits Ch. 11 With Sale Plans
A film production services company owned by embattled private equity firm 777 Partners has filed for Chapter 11 protection in Delaware with $88.9 million in liabilities, blaming the COVID-19 pandemic, Hollywood strikes and its owner's legal and financial troubles.
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November 05, 2024
Catching Up With New Bankruptcy Case Action
Several companies sought Chapter 11 bankruptcy protection this week, reflecting diverse challenges across industries. TGI Fridays and Rainbow Production Services cited economic pressures and a post-COVID downturn, while Star Transportation and New Jersey nonprofit CarePoint Health Systems pointed to rising costs and funding issues that intensified after the pandemic.
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November 05, 2024
Trustee Seeks Jackson Walker Docs In Judge Romance Probe
Arguing that the issue "presents a matter of national importance" with implications for the integrity of the judicial system, a U.S. bankruptcy trustee has urged a Texas federal court to force Jackson Walker LLP to turn over documents related to a former firm attorney's secret romance with a onetime judge.
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November 05, 2024
Defamation Plaintiffs Say Contents Of Giuliani's Home Missing
A mother and daughter trying to enforce a $148 million defamation judgment against ex-New York City Mayor Rudy Giuliani that had sent him briefly into bankruptcy told a federal judge that the former Trump lawyer's Manhattan apartment was a ghost town on Halloween, standing largely bare and frustrating attempts to collect.
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November 05, 2024
On The Ground: How Attorneys Safeguarded The Election
Attorneys worked tirelessly Tuesday to support citizens and election workers on the final day of voting in one of history's most contentious presidential contests.