Mid Cap
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May 16, 2024
Fracking Services Co. Nitro Hits Ch. 11 After IP Trial Loss
Oil and gas fracking services provider Nitro Fluids LLC filed for Chapter 11 protection in a Texas bankruptcy court with more than $50 million in debt, months after a jury found it had infringed another company's patents.
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May 15, 2024
'Not Enough Money': Atty. Objects To Plan For Dead Law Firm
An attorney representing a small group of creditors of failed California debt relief law firm Litigation Practice Group raised concerns at a hearing Wednesday that once the bankruptcy estate pays professional fees and administrative claims, little money will be left.
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May 15, 2024
Meet The Attorneys In KidKraft's Chapter 11
Dallas-based toymaker KidKraft Inc. filed for Chapter 11 protection in Texas on May 10, and is represented by a team from Vinson & Elkins LLP.
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May 15, 2024
NY Diocese, Abuse Claimants Sent To Ch. 11 Plan Talks
A New York bankruptcy judge Wednesday sent the Roman Catholic Diocese of Rockville Centre and clergy sex abuse claimants back into mediation rather than grant the diocese's request to dismiss the case after the abuse claimants rejected its Chapter 11 plan.
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May 15, 2024
Celsius Data Leak Highlights Privacy Puzzle In Crypto Ch. 11s
A recent phishing attack that exposed personal information of 104,000 creditors in Celsius Network's Chapter 11 case has thrown fresh light on a vexing question for bankruptcy courts across the country: how to balance cryptocurrency companies' insistence on anonymity with bankruptcy's principle of transparency.
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May 15, 2024
AI Job Recruiter Joonko Blames CEO Fraud For Ch. 11 Filing
AI-powered employee recruitment venture Joonko Diversity Inc. has filed for Chapter 11 protection in a Delaware bankruptcy court, saying its business had rested almost entirely on fraudulent claims made by its ex-CEO.
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May 15, 2024
Grocery Chain Outfox Files Ch. 7 After Closing All Locations
The parent company of Foxtrot Market and Dom's Kitchen & Market filed for Chapter 7 in Delaware, less than a month after the grocery chain announced it would be closing its 35 stores in Illinois, Texas and the Washington, D.C., area.
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May 15, 2024
How Immediation Went From Collapse To Comeback
Immediation, an Australia-based legal technology company that reached insolvency at the end of 2023, is back in business.
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May 15, 2024
Crypto 'Academy' Closed After Probe Into False Assurances
A cryptocurrency firm that "recklessly" persuaded customers to put money into investment plans has been wound up after the government's insolvency agency found that the company had given false assurances and traded without regulatory approval.
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May 14, 2024
5 Retail Industry Questions For A Restructuring Expert
Major headwinds have been hitting the retail industry for some time and have already blown major brand names like Express Inc., Joann Inc. and Sam Ash Music Corp. into Chapter 11.
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May 14, 2024
Giuliani, For Now, Can't Appeal Defamation Verdict In Ch. 11
A New York bankruptcy judge on Tuesday denied Rudy Giuliani's bid to lift his bankruptcy's automatic stay so he can challenge a $148 million defamation verdict, saying the Republican firebrand needs to make more progress in his Chapter 11 and chiding him for repeating false accusations about two former Georgia poll workers.
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May 14, 2024
Biotech Co. Hits Bankruptcy With Creditor Deal In Hand
Biotech company Gamida Cell Inc. filed for Chapter 11 protection in Delaware bankruptcy court after reaching a take-private deal with its largest creditor to extend up to $45 million in new capital and forgive more than $4 million in secured debt.
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May 14, 2024
Meet The Attorneys In Sam Ash Music's Chapter 11
A team of attorneys from Cole Schotz PC is representing 100-year-old music instrument retailer Sam Ash Music in its Chapter 11 case.
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May 14, 2024
Mercon Coffee's Ch. 11 Plan Disclosures Need More Brewing
A New York bankruptcy judge on Tuesday said Mercon Coffee's Chapter 11 plan releases were so hard to parse in a proposed disclosure statement that he struggled to understand them and doubted a creditor could do so, before adjourning a hearing on the matter at the debtor's request.
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May 14, 2024
Jackson Walker Wants Out Of Texas Judge Romance Suit
Law firm Jackson Walker told a Texas federal court it wants out of a lawsuit accusing it of harming a tug boat company whose case was pending before a bankruptcy judge engaged in a romantic relationship with a firm attorney.
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May 14, 2024
Petersen Health Gets Final OK For $45M Ch. 11 Financing
A Delaware bankruptcy judge Tuesday gave Petersen Health Care final permission to tap into $45 million in Chapter 11 financing after the senior living chain said it had settled almost all the objections to the proposal.
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May 14, 2024
Frost Brown Gains V&E Bankruptcy Ace In Dallas
Frost Brown Todd LLP has fortified its bankruptcy and restructuring practice with a partner in Dallas who came aboard after more than 16 years at Vinson & Elkins LLP.
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May 13, 2024
50 Cent, GC Accused Of Federal Wiretap Violations
A liquor business consultant has told a New York state court that Curtis "50 Cent" Jackson and the rapper's general counsel violated federal and New Jersey wiretap statutes, after the court dismissed an earlier counterclaim lodged under the Illinois Eavesdropping Act.
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May 13, 2024
Eletson Creditors Seek Over $1M Cut In Reed Smith Fees
Unsecured creditors of shipping company Eletson Holdings have asked a New York bankruptcy judge to cut more than $1 million from the fees being sought by Eletson counsel Reed Smith LLP, saying the firm overstaffed the case and wasted money on needless and meritless fights.
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May 13, 2024
Giuliani Gag Suit, FTX To Pay Up, Victims Seek Sanctions
Poll workers asked a bankruptcy court to bar Rudy Giuliani from making future defamatory statements like the ones that led to a $148 million judgment against him, while FTX said it plans to repay all customers in full in its proposed Chapter 11, and abuse claimants against the Roman Catholic Diocese of Syracuse are requesting sanctions for insurers that shared sensitive claims data.
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May 13, 2024
Petersen Health Receivership Deal Draws US Trustee Concern
Senior living chain Petersen Health Care Monday told a Delaware bankruptcy judge it has struck a deal to resolve the status of a number of its facilities that are in receivership, but the U.S. Trustee's Office said the deal may bend the Bankruptcy Code too far.
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May 13, 2024
Peer Street Ch. 11 Ruling Hinges On Pro Se Creditor's Protest
A Delaware bankruptcy judge told real estate investment platform Peer Street Inc. on Monday that she would make a final ruling on confirmation of the company's Chapter 11 plan in the coming days, but only after finishing a review of a pro se creditor's complaints about the otherwise consensual wind-down deal.
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May 13, 2024
Toy Co. KidKraft's $4M 'Lifeline' DIP Gets Nod
A Texas bankruptcy judge on Monday agreed to let toymaker KidKraft access $4 million of bankruptcy financing that its counsel called a "lifeline," once the debtor submits a revised version of the request, following arguments over whether the Chapter 11 case's brisk pace allowed enough time for objections.
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May 13, 2024
US Trustee Blasts Mercon Coffee Ch. 11 Plan Disclosures
The U.S. Trustee's Office asked a New York bankruptcy judge to reject Mercon Coffee's Chapter 11 plan disclosure statement, saying it contains insufficient information for plan voters and the company hasn't properly gotten consent for its third-party claims releases.
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May 13, 2024
NY Youth Welfare Org To Sell 12-Acre Campus In Ch. 11
Longtime youth mental health services provider St. Christopher's Inc. will sell its Dobbs Ferry residential campus as it looks to handle roughly 30 child abuse lawsuits in Chapter 11, lawyers for the nonprofit told a New York bankruptcy judge during a first-day hearing on Monday.