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How COVID Put TGI Fridays On The Path To Bankruptcy
After a tough five years in which TGI Fridays saw two scuttled acquisitions, a shrinking footprint and attempts to offset COVID-19 pandemic losses, the dining chain known for its peppy atmosphere, comfort food and cocktails became one of the latest restaurant groups to hit Chapter 11.
The Onion's Infowars Bid Rests On Whether Highest Is Best
As satirical media company The Onion prepares to defend its offer to buy Alex Jones' right-wing conspiracy show, Infowars, it is relying on the idea that sometimes, the highest offer is not the best one for creditors, experts told Law360.
Diamond Sports Restructuring May Fail As Goalposts Move
Regional sports network owner Diamond Sports Group touted its recently confirmed Chapter 11 plan as a "miracle" that restructured billions of dollars of debt and positioned it well for post-bankruptcy success, but industry analysts say the challenges facing the business could be insurmountable.
How COVID Put TGI Fridays On The Path To Bankruptcy
After a tough five years in which TGI Fridays saw two scuttled acquisitions, a shrinking footprint and attempts to offset COVID-19 pandemic losses, the dining chain known for its peppy atmosphere, comfort food and cocktails became one of the latest restaurant groups to hit Chapter 11.
The Onion's Infowars Bid Rests On Whether Highest Is Best
As satirical media company The Onion prepares to defend its offer to buy Alex Jones' right-wing conspiracy show, Infowars, it is relying on the idea that sometimes, the highest offer is not the best one for creditors, experts told Law360.
Diamond Sports Restructuring May Fail As Goalposts Move
Regional sports network owner Diamond Sports Group touted its recently confirmed Chapter 11 plan as a "miracle" that restructured billions of dollars of debt and positioned it well for post-bankruptcy success, but industry analysts say the challenges facing the business could be insurmountable.
Expert Analysis
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Large Cap More
H-Food Holdings LLC, which makes granola bars, pretzels and other snacks under the name Hearthside Food Solutions, filed for bankruptcy protection in Texas on Friday, with a restructuring agreement that would ... (more story)
In the bruising battles for position among lenders to debt-laden companies, private equity firms often remain relatively unscathed. But a case in Texas federal court over so-called creditor-on-creditor violenc... (more story)
Hodgson Russ LLP has added an attorney who focuses on complex commercial insolvency matters to its team in Buffalo to work as a partner with its bankruptcy, restructuring and commercial litigation practice.
Lenders of bankrupt retail-focused holding company Franchise Group Inc., including Pacific Investment Management Co. and private equity firm Irradiant Partners, have urged a Delaware bankruptcy judge to end ho... (more story)
Discount retailer Big Lots on Thursday asked a Delaware bankruptcy judge to approve a $760 million asset sale to a private equity group and override creditor objections to the inclusion of potential litigation... (more story)
A New York bankruptcy judge on Thursday said he would accept filings seeking recognition of the Brazilian insolvencies of two of four debtors in the corporate family of concrete supplier InterCement, but would... (more story)
A Delaware bankruptcy judge on Thursday approved American Tire Distributors Inc.'s $250 million Chapter 11 loan after the company resolved a lender group's challenge to the financing that threatened to upend the case.
Swedish electric vehicle battery maker Northvolt AB filed a Chapter 11 case in Texas bankruptcy court Thursday, saying it wants to find a partner to enable the company's innovation to continue in the burgeonin... (more story)
Bankrupt trucking firm Yellow Corp. said it had resolved all objections to its Chapter 11 plan disclosure statement Thursday, and a Delaware judge agreed to approve the document once it was updated to reflect the changes.
Following a series of high-level corporate and finance hires this year, Linklaters announced Thursday that it is hiring the former co-leader of Mayer Brown LLP's infrastructure mergers and acquisitions practic... (more story)
Mid Cap More
The former CEO of Kansas' now-shuttered Heartland Tri-State Bank has been banned by the federal government from being a part of the banking industry after stealing $47.1 million from the bank to give to crypto... (more story)
A Delaware bankruptcy judge on Friday approved the $72.5 million sale of Jordan Health, the corporate parent of medical equipment company Avante Health, to an affiliate of Staple Street Capital after the debto... (more story)
The First Circuit has affirmed a Puerto Rico regulator's ability to order the sale of a dairy farmer's milk quota despite his pending bankruptcy, ruling the action wasn't blocked by a stay blocking actions tha... (more story)
The liquidating trust for Prime Core Technologies Inc., a troubled cryptocurrency technology business, sued in Delaware bankruptcy court Thursday to claw back what it described as a fraudulent transfer of more... (more story)
A British Columbia-based utility services provider filed for Chapter 15 bankruptcy protection Thursday in Delaware seeking recognition of a Canadian receivership placed on the business by a court there, saying... (more story)
A UAE bank has lost its claim against a businessman's family over an alleged £19 million ($24 million) debt, after a London judge ruled Thursday that the lender failed to prove that the businessman had intenti... (more story)
Creditors who were repaid after a bankruptcy is filed are eligible to later join an involuntary insolvency petition, a bankruptcy appellate panel for the Ninth Circuit has found, overturning a lower court's de... (more story)
The U.S. Consumer Financial Protection Bureau has served a subpoena on the Chapter 11 trustee in charge of collapsed California debt relief law firm Litigation Practice Group's bankruptcy estate, the trustee's... (more story)
Counsel for Tom Girardi told a federal judge the disbarred attorney is plainly mentally incompetent and deserves a new trial over charges he defrauded clients of $15 million worth of settlement money.
A Texas bankruptcy judge on Wednesday approved TGI Fridays' procedures for contacting and selecting prospective buyers for its assets after the struggling restaurant chain said it was in discussions with at le... (more story)