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Summer Kicks Off With Run Of New Bankruptcy Filings
The first weeks of summer have seen a steady run of bankruptcy filings, with debtors entering insolvency courts from the toy, clothing and entertainment industries.
![A Redbox user grabs a rental DVD as it is dispensed from a Redbox kiosk (AP Photo/Damian Dovarganes, File)](https://assets.law360news.com/1854000/1854404/eb7323ae2d945d7da2487271f850e4497ab1d838-redbox_owner_bankruptcy_87127.jpg)
Meet The Attorneys Directing The Redbox Ch. 11
Chicken Soup for the Soul Entertainment Inc., the parent of movie rental kiosk pioneer Redbox, has hired attorneys from Reed Smith LLP and Ashby & Geddes PA as the company plans to sell its assets and pursue adversary litigation to redress prepetition damages through its Chapter 11 case in Delaware.
![A general view of the U.S. Supreme Court Building in Washington, D.C., on Tuesday, May 21, 2024. (Graeme Sloan/Sipa USA)(Sipa via AP Images)](https://assets.law360news.com/1854000/1854899/cd4076b9288dac6f8f6f451f5fae63d5458a78b7-dc__u.s._capitol_building_and_supreme_court_28864.jpg)
Purdue Ruling Threatens To Limit Broader Bankruptcy Powers
The U.S. Supreme Court's narrow read of a bankruptcy statute in its decision to reject nonconsensual third-party releases in the Purdue Pharma case could curb courts' power to authorize a range of Chapter 11 requests that aren't explicitly allowed under the law.
Large Cap More
Bankrupt mining operation Nevada Copper Inc. has proposed a pair of bonus plans that would allow for up to $5.2 million in retention and incentive payments for its workforce for staying with the company during... (more story)
Bankrupt pharmacy chain Rite Aid has asked a New Jersey bankruptcy judge to find the purchaser of its prescription benefits subsidiary in contempt, saying the buyer is defying his orders by refusing to assume ... (more story)
Prince's heirs were left standing alone in a cold world last week after Delaware's Court of Chancery found their attempts to gain control of the late musician's estate too demanding. Delaware's court of equity... (more story)
The federal government Monday filed an objection to Petersen Health Care's proposed facilities sale, saying the $136 million in bids received by the company is insufficient to cover the U.S. Department of Hous... (more story)
Seminal rulings from the U.S. Supreme Court's latest term will reshape many facets of American society in the coming years. Already, however, the rulings offer glimpses of how the justices view specific circui... (more story)
The U.S. Supreme Court's lethargic pace of decision-making this term left the justices to issue a slew of highly anticipated and controversial rulings during the term's final week — rulings that put the court'... (more story)
The U.S. Supreme Court's dismantling of a 40-year-old judicial deference doctrine, coupled with rulings stripping federal agencies of certain enforcement powers and exposing them to additional litigation, has ... (more story)
The U.S. Supreme Court's session ended with a series of blockbuster cases that granted the president broad immunity, changed federal gun policy and kneecapped administrative agencies. And many of the biggest d... (more story)
When the high court limited the scope of a federal obstruction statute used to charge hundreds of rioters who stormed the Capitol, the justices did not vote along ideological lines. In a year marked by 6-3 spl... (more story)
In a U.S. Supreme Court term teeming with serious showdowns, the august air at oral arguments filled with laughter after an attorney mentioned her plastic surgeon and a justice seemed to diss his colleagues, t... (more story)
Mid Cap More
A Texas bankruptcy judge on Monday allowed Romance Writers of America to move forward with its bankruptcy plan in the trade association's streamlined Chapter 11 case, noting that there were no objections to co... (more story)
Two federal agencies have objected to third-party releases in cloud-technology developer CalAmp Corp.'s Chapter 11 plan, telling a Delaware bankruptcy judge that the U.S. Supreme Court's recent ruling in Purdu... (more story)
The majority equity owner of Icon Aircraft has asked a Delaware bankruptcy judge to reject a request by a group of investors including the company's former chief executive to continue prosecuting claims that i... (more story)
Bankrupt medical tech company UpHealth has urged an Illinois court to enforce a $110 million arbitral award against Indian digital healthcare services platform Glocal Healthcare in a bitter feud over an ill-fa... (more story)
An insurance carrier for the bankrupt Roman Catholic Diocese of Syracuse is asking a New York bankruptcy judge to reject a request that she sanction it for leaking information about sexual abuse survivors, say... (more story)
A Delaware bankruptcy judge ordered Friday that bankrupt grocery automation company Takeoff Technologies Inc. be given a second round of interim debtor in possession financing, worth almost $600,000, as the co... (more story)
Bankrupt coffee supplier Mercon Coffee Group defended employee releases in its Chapter 11 liquidation plan, telling a New York bankruptcy court that Section 503(c) of the Bankruptcy Code limits payment of admi... (more story)
A Texas bankruptcy judge said he must determine the scope of a deposition over a former judge's concealed romantic relationship with an ex-Jackson Walker LLP attorney, reversing course on a stipulation and rul... (more story)
This U.S. Supreme Court term featured high-stakes oral arguments on issues including gerrymandering, abortion and federal agency authority, and a hot bench ever more willing to engage in a lengthy back-and-for... (more story)
The U.S. Trustee's Office has told a Delaware bankruptcy judge that teen apparel retailer rue21 is trying to protect too many parties from potential legal liability as it seeks to wind down its Chapter 11 case.