Mid Cap
-
August 27, 2024
Tobacco Co-Op's $10M Insurance Suit Headed To Mediation
Tobacco grower cooperative U.S. Tobacco Cooperative Inc. will go into mediation with Axis Specialty Insurance Co. as part of a lawsuit brought by the grower alleging the insurer has refused to pay $10 million in excess coverage.
-
August 27, 2024
Jackson Walker Is Trying To 'Revise History,' US Trustee Says
Jackson Walker LLP told a Houston judge Tuesday that the U.S. Trustee's Office "wants everyone to play by the rules except for [itself]" in a discovery dispute connected to a former Texas bankruptcy judge's secret relationship, as the bankruptcy watchdog simultaneously accused the firm of chasing down rumors to "revise history" through overbroad discovery requests.
-
August 27, 2024
11th Circ. Affirms $700K Valuation For Bitcoin Mining Site
The Eleventh Circuit has agreed with a Georgia bankruptcy court's finding that a defunct company's bitcoin mining facility was worth more than $700,000, saying the lower court correctly valued the property using the most appropriate methodology.
-
August 27, 2024
Top Bankruptcy Trends Of 2024: Midyear Report
The bankruptcy world has had a busy 2024 so far on a number of fronts, with Chapter 11 filings rising across a variety of industries.
-
August 27, 2024
Disbarred Atty Tom Girardi Convicted Of Defrauding Clients
A California federal jury on Tuesday convicted disbarred attorney Tom Girardi on all four counts of wire fraud, finding that the former titan of the plaintiffs bar misappropriated $15 million of his clients' settlement funds.
-
August 27, 2024
Latham Hires BigLaw Restructuring Vet From Gibson Dunn
Latham & Watkins LLP tapped Joe Zujkowski, a BigLaw veteran and former co-head of the domestic restructuring practice at O'Melveny & Myers LLP, as a partner in New York.
-
August 26, 2024
Girardi Lied 'Over And Over,' Jury Told As Fraud Trial Wraps
A federal prosecutor told a California federal jury during closing arguments in Tom Girardi's criminal fraud trial Monday that the now-disbarred attorney lied to his clients "over and over and over again" in order to misappropriate millions of their settlement money as part of a yearslong Ponzi scheme.
-
August 26, 2024
Pool Co. Secures $1.1M In Fees For False Ad Trial Win
A North Carolina federal judge has granted $1.1 million in fees for attorneys from McCarter & English LLP and Womble Bond Dickinson who represented a swimming pool salt system supplier in a trial against a competitor, finding the case qualifies as exceptional since the opposing company acted "unreasonably."
-
August 26, 2024
Judge Won't Eject Trustee From Irish Developer's $942M Ch. 7
A Connecticut bankruptcy judge has denied a nearly two-and-a-half-year-old motion to remove a Chapter 7 trustee from an Irish developer's $942 million bankruptcy, saying the developer's appellate losses and a recent U.S. Supreme Court certiorari denial, ultimately favoring the trustee, left the motion finally ripe for a decision.
-
August 26, 2024
Girardi Denies Fraud Charges, Alex Jones Biz Sale Proposed
Disbarred attorney Tom Girardi has denied stealing from any of his clients, asking a judge to toss wire fraud charges. Meanwhile, a court-appointed trustee in Alex Jones' bankruptcy has asked a Texas judge to authorize the liquidation and wind-down of Free Speech Systems. This is the week in bankruptcy.
-
August 26, 2024
AI Staffing Co. Ch. 11 Releases Are 'Gratuitous,' Investors Say
Shareholders of Joonko Diversity Inc., a recruitment firm that uses artificial intelligence, have objected to the company's proposed Chapter 11 liquidation plan, saying the proposal includes releases of claims against directors and officers of the business who may be implicated in a fraud scheme, for which Joonko's ex-chief executive was recently indicted in federal court.
-
August 26, 2024
Judge OKs Buca Di Beppo Bidding Process
A Texas bankruptcy judge on Monday approved Italian restaurant chain Buca di Beppo's bidding procedures, setting up the possibility of an auction in early October.
-
August 26, 2024
Texas Cases To Watch In Last Half Of 2024
Courts across the state are poised to make decisions in several high-stakes cases over the next several months, including ruling on whether Texas Attorney General Ken Paxton can be deposed in a long-running employment retaliation suit and whether a challenge to Texas' floating Rio Grande barrier must be tried before a jury.
-
August 26, 2024
Texas Bitcoin Miner Hits Ch. 11 With More Than $50M In Debt
Cryptocurrency miner Rhodium filed for Chapter 11 protection in a Texas bankruptcy court with more than $50 million in debt.
-
August 23, 2024
Girardi Says High Court Holding Should Gut His Fraud Case
Tom Girardi has urged a California federal judge to toss the majority of the wire fraud charges he is facing ahead of closing arguments in his trial, saying a 1960 U.S. Supreme Court case demonstrates he was charged for nothing more than receiving legally required wire transfers.
-
August 23, 2024
Split 9th Circ. Says Ponzi Schemes Don't Need Proof Of Intent
A split Ninth Circuit panel affirmed Friday a jury's finding in a fraudulent-transfer fight that a now-bankrupt company was a Ponzi scheme, with the majority writing that jurors didn't need to find an intent to defraud, while a dissenting judge slammed the majority's reasoning as "circular."
-
August 23, 2024
Drug Cos. Akorn, Cardinal Settle $28M Ch. 7 Fight
Defunct drug manufacturer Akorn has told Delaware's bankruptcy court it reached an agreement resolving a roughly $28 million dispute regarding its prepetition sale of pharmaceuticals to distributor Cardinal Health, which promised to pay nearly $7 million to the debtor's Chapter 7 estate.
-
August 23, 2024
Clinic Biz Can Tap Additional Ch. 11 Lifeline, Judge Says
A Delaware bankruptcy judge agreed on Friday to allow clinic operator Pioneer Health to take on more debtor-in-possession financing as it works toward an asset sale, finding the latest arrangement to be in the debtor's best interest.
-
August 23, 2024
Creditors Can't Dig Up Eletson's Ch. 11 Plan Negotiation Info
Bankrupt Greek fuel shipping group Eletson doesn't have to turn over communications with a group of shareholders who are supporting its Chapter 11 plan, a New York bankruptcy judge ruled Friday, finding the common interest doctrine shielded their negotiation talks from the official committee of unsecured creditors' discovery request.
-
August 23, 2024
Retailers That Sunk Into The Red And Hit Ch. 11 In 2024
Major retail companies including Express Inc., Conn's Inc., Avon Products, Sam Ash Music, and Rue21 have filed for bankruptcy this year, citing industry challenges stemming from the lasting impacts of the COVID-19 pandemic, rising interest rates and inflationary pressures.
-
August 22, 2024
A Look At The 3 Competing Eletson Ch. 11 Plans
A New York bankruptcy judge is in the unusual position of weighing competing Chapter 11 plans for Eletson — one from the debtor and two from creditors that sought to force it into liquidation — as a September confirmation hearing approaches, after rejecting arguments that the oil and gas transporter proposal has no chance of success.
-
August 22, 2024
Delta Apparel, Creditors Get More Time To Work Out DIP Row
A Delaware bankruptcy judge on Thursday tabled a decision on final approval of Delta Apparel's bankruptcy financing to give the clothing maker and its creditors more time to sort out disagreements over how the debtor-in-possession loan would affect recoveries in the Chapter 11 case.
-
August 22, 2024
Tender Greens, Tocaya Get OK For September Auction
A Delaware bankruptcy judge said Thursday he will approve procedures for bidding on the assets of a Los Angeles-based company that operates casual restaurant chain Tender Greens and Mexican eatery Tocaya.
-
August 22, 2024
Toolmaker Hardinge Cleared For Ch. 11 Auction In September
Hardinge, a producer of metal-cutting equipment, is set to hold a bankruptcy auction for the business in September, with a $100 million credit offer setting the floor, the debtor's attorneys said Thursday, telling a Delaware bankruptcy judge its stalking horse bidder walked back a demand for expense reimbursements that the U.S. Trustee's Office opposed.
-
August 22, 2024
Jones Walker Adds Kelley Drye Bankruptcy Ace In Houston
Jones Walker LLP announced Thursday that it has bulked up its bankruptcy and restructuring team and its litigation practice group with a partner in Houston who came aboard from Kelley Drye & Warren LLP.