Mid Cap
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September 24, 2024
Giuliani Finance Investigators Get $300K In Fees
A New York bankruptcy judge agreed Tuesday to trim about $24,000 in fees billed by a forensic accounting and investigative firm that a group of creditors enlisted to probe Rudy Giuliani's finances in his now-dismissed Chapter 11, bringing the company's total fee award in the case to around $300,000.
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September 24, 2024
Meet The Attorneys In Silvergate Capital's Ch. 11
The parent company of the shuttered cryptocurrency-foused Silvergate Bank has retained teams from Richards Layton & Finger PA and Cravath Swaine & Moore LLP as it winds down its operations.
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September 23, 2024
Decline And Fall: Brand Empires That Hit Bankruptcy
When food container maker Tupperware filed for Chapter 11 in Delaware last week, disclosing more than $1 billion in liabilities and plans for a quick sale, it became the latest iconic brand to seek relief from financial woes in bankruptcy court, following in the footsteps of giants from Rite Aid to RadioShack.
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September 23, 2024
Profs, Retired Judges Ask Justices To Uphold Return Of Taxes
Two former bankruptcy judges and a group of law professors threw their support behind the bankruptcy trustee of a Utah transportation company seeking to convince the U.S. Supreme Court that the IRS, like any other creditor, should have to return payments deemed fraudulent under state law.
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September 23, 2024
Bitcoin Miner Rhodium Gets Final OK For $30M Ch. 11 Loan
A Texas bankruptcy judge on Monday gave final approval for bitcoin mining company Rhodium to access its $30 million debtor-in-possession financing package from a blockchain firm.
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September 23, 2024
Judge Recuses Self After Opening Jackson Walker Ethics Probe
U.S. Bankruptcy Judge Marvin Isgur has asked a Texas federal court to investigate potential sanctions against Jackson Walker LLP for its failure to disclose a relationship between a firm partner and a federal judge, also telling the court he would recuse himself from any proceedings involving the ethics breach.
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September 23, 2024
Meet The Attorneys In Digital Media Solutions' Ch. 11
Advertising firm Digital Media Solutions, which recently filed for Chapter 11, has drafted a team of lawyers from Porter Hedges LLP and Kirkland & Ellis LLP to help it pursue a sale process with prepetition lenders acting as lead bidders for a proposed auction.
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September 23, 2024
Conn. Reaches $5M Deal To Resolve Vision Solar Case
Connecticut is asking a judge to sign off on a judgment that would impose a $5 million civil penalty against Vision Solar LLC to resolve the state's unfair trade practices complaint against the bankrupt company.
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September 23, 2024
Paul Hastings Adds Restructuring Pro In Dallas From Sidley
Paul Hastings LLP announced Monday that it has continued its expansion in the Lone Star State with the addition of a financial restructuring partner in Dallas who came aboard from Sidley Austin LLP.
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September 20, 2024
Litigation Funding Firm Likely Out Of Hurricane Ad Class Action
A Texas federal judge said Thursday that a funding company that lent $20 million to a law firm accused in a proposed class action of conspiring to deceptively solicit hurricane victims should be dropped as a defendant.
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September 20, 2024
Trash-To-Gas Refiner Fulcrum Hit Ch. 11 Amid Capital Drought
The trash-to-gas innovator Fulcrum BioEnergy Inc. tumbled into bankruptcy earlier this month after the renewable aviation fuel maker ran out of runway with lenders and potential equity investors, whose money it needed to fund equipment fixes at its key Nevada refinery.
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September 20, 2024
Slow Development Puts Nebraska District Into Ch. 9
A local development authority filed for Chapter 9 protection in Nebraska after laying out significant funds to install roads and sewer systems for a housing development that was stalled by the 2008 financial crisis.
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September 20, 2024
Silvergate Wants Activist Investor's Board Seat Play Blocked
The parent company of Silvergate Bank, a defunct bank that catered to the cryptocurrency industry, has asked the judge in its Delaware bankruptcy case to help head off what it described as an activist investor's effort to score a seat on the debtor's board so he can try to secure a payout for shareholders who are set to receive nothing under a Chapter 11 plan.
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September 19, 2024
NYC Condo Owner Seeks Fast Confirmation On Ch. 11 Plan
Bankrupt New York City condominium complex Hudson 888 Owner LLC asked a New York bankruptcy judge to put it on the fast track to a confirmation hearing for its third proposed Chapter 11 plan, under which it would hand over residential real estate units to its main lender to clear debts.
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September 19, 2024
Ch. 7 Trustee Urges Justices To Uphold Return Of Taxes
The bankruptcy trustee of a defunct Utah transportation company warned the U.S. Supreme Court on Thursday that overturning a decision forcing the IRS to return tax payments made by company directors to cover their personal debts would encourage shareholder fraud.
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September 19, 2024
BurgerFi Says Macroeconomics Drove It Into Ch. 11
Fast-casual restaurant chain BurgerFi Inc. filed for Chapter 11 bankruptcy earlier this month, blaming macroeconomic factors for its insolvency in what is becoming an increasingly common tale for retail and hospitality companies operating after the onset of the COVID-19 pandemic.
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September 19, 2024
Tender Greens, Tocaya On Track For Final DIP, Bid Approval
A Delaware bankruptcy judge said Thursday she anticipated being able to give the company that operates Tender Greens and Tocaya restaurants final approval for $3.5 million in debtor-in-possession financing and a stalking-horse bid once the debtor submits proposed orders to that effect.
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September 19, 2024
Quinn Emanuel Challenges Oro Negro Execs' Discovery Bid
Quinn Emanuel Urquhart & Sullivan LLP is pushing back against a bid for firm documents from its former client, Oro Negro Drilling Pte. Ltd., saying the company that provides oil services in Mexico and its subsidiaries are "weaponizing" the firm's party status to gain a tactical advantage in related legal battles.
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September 19, 2024
Silvergate First-Day Ch. 11 Motions OK'd Ahead Of Wind-Down
A Delaware bankruptcy judge on Thursday approved a slew of first-day motions brought by the parent company of defunct cryptocurrency-focused bank Silvergate, allowing the debtor to stay on track with a plan to liquidate its business to pay creditors and shareholders.
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September 19, 2024
Potter Anderson Renews Lease For Its Del. Headquarters
Delaware firm Potter Anderson & Corroon LLP has announced that it has extended the lease for its Wilmington headquarters for 13 years to 2041, and also plans to modernize the space in time for the firm's 200th anniversary in 2026.
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September 19, 2024
Meet The New Acting US Trustees For Northwestern States
Attorney General Merrick Garland has appointed two acting U.S. trustees to oversee the administration of bankruptcy cases in two major regions that encompass multiple northwestern states.
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September 19, 2024
Cozen O'Connor Recruits Goulston & Storrs Bankruptcy Pro
Philadelphia-headquartered Cozen O'Connor has hired a corporate restructuring professional from Goulston & Storrs PC for its bankruptcy, insolvency and restructuring practice as a member in the firm's growing New York City office.
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September 18, 2024
Tupperware Hits Ch. 11, 3rd Circ. Says Hertz Owes $270M
This week saw a wave of new bankruptcy filings, including that of kitchen supply brand Tupperware, two restaurant chains based in Florida and a defunct California bank that catered to cryptocurrency users.
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September 18, 2024
Meet The Attorneys In BurgerFi's Ch. 11
BurgerFi International Inc., the fast casual chain that also owns Anthony's Coal Fired Pizza & Wings restaurants, has assembled a team of lawyers from Raines Feldman Littrell LLP to assist with plans to turn its business around after entering Chapter 11 protection in Delaware last week.
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September 18, 2024
Vintage Wine Estates Nets $140M In Ch. 11 Auction
Bankrupt wine producer Vintage Wine Estates has told Delaware's bankruptcy court it scored a series of offers for its assets through a Chapter 11 auction that will bring in more than $140 million.