Mid Cap
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April 29, 2024
Supreme Court Declines To Hear 'Unusual' FCRA Case
The U.S. Supreme Court on Monday declined to take up PHH Mortgage Corp.'s call for review of a Fourth Circuit decision allowing a Marine Corps veteran to continue his Fair Credit Reporting Act claims that the company harassed him about his ex-wife's debt on a home they once shared.
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April 26, 2024
Giuliani Seeks Ch. 11 Judge's OK To Appeal $148M Verdict
Rudy Giuliani asked a New York bankruptcy judge on Friday for permission to move forward with an appeal of a $148 million defamation award to two Georgia poll workers he accused of committing ballot fraud.
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April 26, 2024
Cannabis Retailer MedMen Files For Bankruptcy In Canada
American cannabis retailer MedMen Enterprises Inc. said Friday that it had filed for bankruptcy in Canada, citing CA$561.5 million ($410.4 million) of liabilities months after the company's stock plunged and executives departed despite having sold off assets to raise money.
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April 26, 2024
ABI President Chris Ward Talks Fees, Purdue Pharma, Phillies
Chris Ward of Polsinelli LLP, the new president of the American Bankruptcy Institute, expects high interest rates to continue dogging debt-laden companies this year. He's also skeptical a U.S. Supreme Court decision limiting nonconsensual releases in the bankruptcy case of Purdue Pharma LP would radically alter third parties' ability to get liability shields and thinks Chapter 11 has become too expensive, he told Law360 on Friday.
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April 26, 2024
Casa Gets OK For $32.25M Telecom Asset Sale To Fund Ch. 11
A Delaware bankruptcy judge said Friday that she would approve the $32.25 million sale of Casa Systems Inc.'s cloud and radio access network unit after an auction more than doubled the winner's initial offer for the assets, despite concerns about how the process played out.
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April 26, 2024
Umpqua Bank Seeks Win On Investors' Ponzi Aiding Claims
Oregon-based Umpqua Bank has asked a San Francisco federal judge to toss claims that it aided and abetted a $250 million real estate Ponzi scheme, arguing the investors who brought the suit saw that their funds were put into "legitimate" investments.
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April 26, 2024
50 Cent's GC Beats Wiretap Claim In Liquor Feud, For Now
A Manhattan judge on Friday threw out a claim that the general counsel for rapper Curtis "50 Cent" Jackson illegally recorded a former Beam Suntory Inc. sales contractor during an embezzlement investigation, but allowed the consultant to revise his pleading.
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April 26, 2024
Judge Agrees To OK Sticky's Initial Ch. 11 Requests
A Delaware bankruptcy judge agreed Friday to sign off on modified versions of first-day requests from popular New York-area chicken restaurant chain Sticky's in the company's streamlined Chapter 11 case, asking Sticky's to submit revised orders by 5 p.m.
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April 26, 2024
Small Biz Ch. 11s, Student Loans Topics Of NACBA Meeting
Consumer bankruptcy lawyers have gathered in Colorado Springs, Colorado, to discuss current and emerging issues, challenges and opportunities at the National Association of Consumer Bankruptcy Attorneys' 2024 conference.
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April 26, 2024
Bankrupt NYC Building Owners, Rent-Strikers Settle Claims
The bankrupt owners of several Manhattan apartment buildings asked a New York federal bankruptcy court to approve the settlement of the claims of rent-striking tenants, the tenants' debt and a related adversary proceeding.
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April 26, 2024
'Nuisance' Atty Neighbor Wins Ch. 11 Eviction Stay
Norman Resnicow, the lawyer and alleged "nuisance neighbor" who lives next to actor Justin Theroux, has won his bid in New York bankruptcy court to hold off his co-op building from evicting him because of his Chapter 11 automatic stay.
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April 26, 2024
Sacks Weston's Ch. 11 Bid Axed Over Likely Financial Decline
A federal judge has rejected Philadelphia-based firm Sacks Weston LLC's plan to become solvent and dismissed its bankruptcy petition this week, saying the firm's financial decline is likely to continue.
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April 25, 2024
Texas Judge Dismisses Rest Of Bitcoin Miner Investor Suit
A Texas federal judge has dismissed the rest of a lawsuit from bitcoin miner investors against Core Scientific's directors and officers after the execs asked the judge to reconsider an earlier decision to trim the suit but leave it standing.
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April 25, 2024
Ill-Fated Chicken Co. With Over $50M Debt Gets Ch. 7 Lifeline
A Delaware bankruptcy judge agreed to let the Chapter 7 trustee for Cooks Venture Inc., a poultry business that offered meat from specially-bred chickens, access post-petition financing Thursday after he said the birds would eat one another unless the company could buy chicken feed.
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April 25, 2024
The Gateway Pundit Parent Co. Hits Ch. 11 In Florida
The parent company of far-right media outlet The Gateway Pundit has filed for Chapter 11 bankruptcy protection amid legal liabilities stemming from the company's coverage of the 2020 presidential election, including false claims that two Georgia election workers engaged in ballot fraud.
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April 25, 2024
Benefytt Successor Pursues Del.'s Bankruptcy Alternative
Three affiliates of Benefytt Technologies have asked Delaware's Chancery Court for assignment for the benefit of creditors, a state-administered restructuring option, with $41 million in unsecured debt and $20 million worth of liens, saying the ripple effects of the health technology company's Chapter 11 drove them under.
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April 25, 2024
Shoes For Crews Ch. 11 Sale Plan Keeps Creditor Challenge
Bankrupt nonslip shoes retailer Shoes For Crews reached an agreement with the U.S. Trustee's Office Thursday in Delaware to preserve the rights of creditors to challenge prepetition liens in its Chapter 11 case for the statutorily required period while pursuing a sale of its assets.
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April 25, 2024
Peer Street Says It Has Votes To Confirm Ch. 11 Plan
Bankrupt crowd-funded real estate investment platform Peer Street Inc. asked a Delaware bankruptcy judge to confirm its proposed Chapter 11 plan and disclosure statement, saying its creditors have voted overwhelmingly to support the plan ahead of its confirmation hearing scheduled for Friday.
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April 25, 2024
Sticky's Chicken Hits Ch. 11 Amid COVID, Litigation Woes
Popular New York area chicken restaurant chain Sticky's filed for Chapter 11 bankruptcy Thursday in Delaware with more than $1 million in debt, citing disruption from the COVID-19 pandemic and a trademark dispute with a similarly named restaurant.
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April 25, 2024
Weinstein May Be Retried After NY Court Overturns Conviction
Harvey Weinstein seems poised to go to trial again in New York and testify in his own defense after the state's highest court overturned the movie mogul's rape conviction Thursday in a contentious, split opinion that found his first jury proceeding was unfair.
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April 24, 2024
Clover Food Emerges After Successful Subchapter V Case
Vegetarian fast-food chain Clover Food Lab exited bankruptcy on Wednesday after taking advantage of the Subchapter V rules reserved for small-business debtors, now having a more manageable location portfolio and keeping relationships with long-time vendors intact.
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April 24, 2024
UpHealth Wants Out Of Ex-Shareholder Claims In Ch. 11
Bankrupt healthcare company UpHealth and its bankrupt subsidiary Thrasys Inc. have asked a Delaware bankruptcy court to toss claims filed by the representative for the former shareholders of Thrasys, saying it dropped the ball on tax litigation and never indemnified UpHealth for the associated legal fees.
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April 24, 2024
Comcar Trustee Hits Insurer With Demand To Hand Over Cash
The wind-down trustee for defunct trucking firm Comcar Industries Inc. initiated an adversary case against a South Dakota insurance exchange in the Delaware bankruptcy court, saying the trustee is due funds from an account with the insurer worth at least $3.7 million.
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April 24, 2024
Bill O'Reilly Can't Duck Canceled Cruise Suit, Customer Says
Bill O'Reilly cannot use his New York ties to shrug off a proposed class action, a man denied refunds for a canceled cruise has told an Arkansas federal court, arguing the former Fox News host and others gave the court jurisdiction when they launched a nationwide marketing campaign for the trip that reached Arkansas residents.
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April 24, 2024
Dairy Co. Oberweis Unveils $20M Bidder Ahead Of Rival Offer
Oberweis, a bankrupt ice cream and dairy producer in Illinois, has disclosed that the owner of a local egg and dairy business made the $20 million stalking horse bid for its assets, while a family-owned private equity firm in Florida announced its own plans to acquire the company in its Chapter 11 sale.