The Sixth Circuit has ruled that a property title transferred to a Michigan taxing authority can be clawed back in a homeowner's Chapter 13 case, the Eleventh Circuit backed consolidation of four nondebtors into a business' pending Chapter 7 bankruptcy, and the U.S. Department of Justice's bankruptcy watchdog argued third-party releases make luxury retailer Saks' Chapter 11 plan unconfirmable.
Two New Fortress Energy affiliates have hired a small army of attorneys from Skadden Arps Slate Meagher & Flom LLP to strategize the path to U.S. recognition of debtors' efforts to restructure in the English courts by exchanging nearly $8.1 billion in debt for equity and spinning off the Brazilian affiliate.
Three months after the closure of Boy Scouts of America's bankruptcy case, the settlement trust that the debtor set up for abuse claimants is fielding more claimant questions than ever, according to the U.S. Trustee's Office, which is asking that the organization hold a status conference to provide clarity.