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Ch. 11 Filings Surge In March, While Small Biz Filings Flat
A new report shows that Subchapter V filings have leveled off after the debt limit for the streamlined restructuring method was reduced in June, as experts warned that the lower threshold could push businesses to either more expensive Chapter 11 filings or out of business.
Meet The Attys Helping InvaTech Recuperate In Ch. 11
InvaTech Pharma Solutions LLC, a New Jersey-based developer of generic prescription drugs, has hired attorneys from Genova Burns LLC to help it through a Chapter 11 process while it seeks to handle a debt burden tied to loan terms that inhibited its acquisition of capital.
Catching Up With New Bankruptcy Case Action
Oregon whiskey producer House Spirits Distillery filed a Chapter 11 petition in Delaware, citing a post-COVID slump in alcohol demand and excess inventory. Customer loyalty platform Kognitiv also launched a Chapter 11 case in Delaware, reporting more than $10 million in liabilities and planning to sell its assets to a competitor. Meanwhile, fintech company Solid Financial Technologies sought bankruptcy protection following years of fraud allegations.
Ch. 11 Filings Surge In March, While Small Biz Filings Flat
A new report shows that Subchapter V filings have leveled off after the debt limit for the streamlined restructuring method was reduced in June, as experts warned that the lower threshold could push businesses to either more expensive Chapter 11 filings or out of business.
Meet The Attys Helping InvaTech Recuperate In Ch. 11
InvaTech Pharma Solutions LLC, a New Jersey-based developer of generic prescription drugs, has hired attorneys from Genova Burns LLC to help it through a Chapter 11 process while it seeks to handle a debt burden tied to loan terms that inhibited its acquisition of capital.
Catching Up With New Bankruptcy Case Action
Oregon whiskey producer House Spirits Distillery filed a Chapter 11 petition in Delaware, citing a post-COVID slump in alcohol demand and excess inventory. Customer loyalty platform Kognitiv also launched a Chapter 11 case in Delaware, reporting more than $10 million in liabilities and planning to sell its assets to a competitor. Meanwhile, fintech company Solid Financial Technologies sought bankruptcy protection following years of fraud allegations.
Expert Analysis
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Large Cap More
The bankrupt U.S. subsidiary of Indian tech giant Byju's has filed a suit alleging the company's founder had a direct hand in the disappearance of $533 million in company assets prior to its Chapter 11 filing.
A Texas federal district court agreed to preside over a suit the U.S. Trustee's Office brought to make Jackson Walker LLP forfeit fees from more than 30 cases overseen by a former-bankruptcy judge who was roma... (more story)
A Florida federal judge denied a bid to disqualify Carlton Fields in a $500 million lawsuit over the ownership of the company that runs the Miss America pageant, saying such a remedy is extraordinary, and that... (more story)
A U.S. Department of Justice memo outlining the Trump administration's cryptocurrency policy and enforcement priorities has not prompted prosecutors to alter their $40 billion criminal fraud case against Terra... (more story)
Florida business law firm Gunster has added a new shareholder with expertise in complex commercial litigation, bankruptcy law and creditors' rights matters to its Orlando office from Byrd Campbell PA.
A New York bankruptcy judge on Thursday approved Purdue Pharma's request to appoint claims administrators and begin processing the tens of thousands of claims against the drugmaker, reasoning that doing so ahe... (more story)
A Texas bankruptcy judge on Wednesday approved prison healthcare business Wellpath's request to sell two behavioral care-focused hospitals for $1, finding that the debtor had made the case that the facilities ... (more story)
A New York federal district court has granted a request from blockchain analysis company Chainalysis to preside over an adversary lawsuit brought against it by the litigation administrator for defunct cryptocu... (more story)
Bondholders of the Puerto Rico Electric Power Authority requested permission from a Puerto Rico bankruptcy judge to file a financial report revealing that the bankrupt utility failed to transfer $2.9 billion o... (more story)
A Delaware bankruptcy judge denied a $430,000 fee claim filed by law firm White & Case LLP in the Chapter 11 case of Terraform Labs Wednesday, saying payment of the claim was not allowed under the Bankruptcy C... (more story)
Mid Cap More
Brazilian sugar producer and distributor Açucareira Virgolino de Oliveira SA has filed for Chapter 15 protection in New York bankruptcy court after opening insolvency proceedings in Sao Paulo.
The administrator overseeing the liquidation of GenapSys asked a Delaware bankruptcy judge Wednesday to rule that the gene sequencing technology company's Chapter 11 plan preserved its rights to sue its former... (more story)
A Delaware bankruptcy judge on Wednesday approved law firm Cross & Simon LLC's request to withdraw as counsel to former Team Systems International executives in an adversary case brought by the insolvent gover... (more story)
Publishers Clearing House, which started as a magazine subscription seller known for giant check giveaways, filed for bankruptcy Wednesday in New York with plans to focus on its digital advertising operations ... (more story)
A Florida federal judge has ordered expedited discovery in a Mexican oil company's case over alleged improper fund transfers, after determining there is "more than a mere possibility" of Quinn Emanuel being co... (more story)
Genetic testing company 23andMe asked a Missouri bankruptcy judge to let it appoint an independent customer data representative as it looks to sell genetic data of 15 million users at a Chapter 11 auction.
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Arizona-based Royal Interco LLC, which supplies private-label paper products for grocery chains including Trader Joe's, Whole Foods, Kroger and Aldi, filed for Chapter 11 protection in Delaware, saying it has ... (more story)
The Connecticut Supreme Court has denied a bid by bankrupt Infowars host Alex Jones to appeal a judgment awarding more than $1 billion to the families of Sandy Hook Elementary School shooting victims who sued ... (more story)
The former operator of a now-bankrupt Iowa hospital is facing scrutiny over allegations the hospital suffered massive operating losses while paying some $9 million to the operator in fees in the years before i... (more story)