To access this content, a subscription to Bankruptcy Authority is required.
![Signs inside a Big Lots in Woodbridge, Virginia, advertise a store closing sale on Sept. 9.](https://assets.law360news.com/1877000/1877875/a71684599a661339d457c600618b89ee49f8fd5d-big_lots_closing_all_315_stores_86345.jpg)
Meet The Attorneys In The Big Lots Ch. 11
Big Lots, a discount home goods retail chain that entered bankruptcy Monday with $556 million in secured debt, has assembled a team of lawyers from Morris Nichols Arsht & Tunnell LLP and Davis Polk & Wardwell LLP to assist with its plans to shutter over 300 stores and sell the remaining business.
![A sign hangs over the doors to a Red Lobster restaurant in Times Square.](https://assets.law360news.com/1877000/1877794/1c7f962bb0c061d5112725d0ebc6a0ccef1e58b3-atmosphere_in_manhattan,_new_york_city_on_august_26th_2024_94271.jpg)
Red Lobster Plan Confirmed, Big Lots Leads New Ch. 11s
A string of new Chapter 11 bankruptcies were recently launched in Delaware, including a case from national discount home goods retailer Big Lots, which plans to pursue a going-concern sale. Meanwhile, seafood dining chain Red Lobster is on track to hand over the reins to a new group of owners, led by a secured lender, after the debtor secured confirmation of its Chapter 11 plan.
![A Bally Sports sign hangs in a dugout at a spring training game in Jupiter, Florida, between the St. Louis Cardinals and the Houston Astros on March 2, 2023.](https://assets.law360news.com/1877000/1877448/22d5ec0cbdcefc5321029aa13e74c2845e0bf9cf-mlb_bally_sports_baseball_26044.jpg)
Ch. 11 Check-In: Bally Parent's Plan In A Run For Home Plate
The parent company of Bally Sports-branded regional sports networks is working its way toward a Chapter 11 plan that will keep its broadcast agreements with more than half of the professional sports teams that play in the National Hockey League, National Basketball Association and Major League Baseball, but finality is far from certain in the 18-month old cases.
Large Cap More
The federal government might drop its criminal charges in Illinois against disbarred attorney Tom Girardi following his recent conviction in California on similar charges of stealing millions from clients, a p... (more story)
Navient Corp. would be barred from servicing federal student loans and required to pay $120 million to settle allegations related to its student lending practices under a proposed settlement the Consumer Finan... (more story)
A substantial number of large companies are expecting to increase their litigation spending by double digits next year in the face of more complex and hard-fought cases — and they are more open to bringing in ... (more story)
Unsecured noteholders from Hertz's bankruptcy are entitled to roughly $270 million in interest as a so-called make-whole payment, a Third Circuit panel decided in a split ruling overturning a bankruptcy court ... (more story)
Former FTX insider Caroline Ellison urged a Manhattan federal judge not to sentence her to prison for her part in the crypto exchange's massive fraud scheme, citing her remorse and the "devastating" trial test... (more story)
The Consumer Financial Protection Bureau hit TD Bank with a $20 million fine on Wednesday for its failures over inaccurate consumer credit reports and ordered it to pay nearly $8 million to customers, four yea... (more story)
King & Spalding LLP has strengthened two of its Lone Star State offices with the addition of a veteran litigator from Vinson & Elkins LLP and a Skadden Arps Slate Meagher & Flom LLP attorney who specializes in... (more story)
McElroy Deutsch Mulvaney & Carpenter LLP convinced a New Jersey bankruptcy judge to throw out the Chapter 11 filing of its former chief financial officer, who is behind bars for stealing over $1 million from t... (more story)
Disbarred attorney Tom Girardi's age and mental decline did not help him avoid conviction last month on charges that he stole millions in client funds, but it's an open question how much these factors will aff... (more story)
Defunct cryptocurrency exchange FTX Trading Ltd. has struck a $14 million deal that will let it access more than $600 million of cash and liquidated shares in Robinhood Markets Inc., in a settlement agreement ... (more story)
Mid Cap More
The European Commission relaunched an investigation Thursday into whether Germany supplied illegal state aid in the sale of the Nürburgring motorsports complex after the European Union's top court struck down ... (more story)
Digital advertising firm Digital Media Solutions filed for Chapter 11 protection in a Texas bankruptcy court with eyes toward a sale process that would have its prepetition lenders acting as lead bidders for a... (more story)
BurgerFi International Inc., the fast casual chain that also has Anthony's Coal Fired Pizza & Wings restaurants under its umbrella, filed for Chapter 11 protection in Delaware on Wednesday, listing up to $500 ... (more story)
Bankrupt gym chain Blink Fitness landed a stalking horse bid from a unit of U.K.-based global gym operator PureGym Ltd. that sets a $105 million floor price for a Chapter 11 auction set to be held later this m... (more story)
Fulcrum BioEnergy Inc., a company that endeavors to make sustainable aviation fuel, filed for Chapter 11 protection late Monday in Delaware, listing up to $500 million in debt.
The co-founders of a now-bankrupt cybersecurity firm have agreed to pay nearly $1.6 million to end the U.S. Securities and Exchange Commission's claims that they used doctored financial records to convince inv... (more story)
The Roman Catholic Diocese of Norwich, Connecticut, has proposed a Chapter 11 reorganization plan, claiming it would provide better and quicker compensation to sex abuse claimants than the plan proposed by the... (more story)
Eletson Holdings on Monday asked a New York bankruptcy judge to dismiss Chapter 11 claims by creditors it alleges are "drones" for a third party tangled in a corporate dispute with the oil and gas shipping company.
A recent student debt study by the American Bar Association Young Lawyers Division has found that student debt affects young attorneys in many ways — including changing their career plans.
The management of Success Village Apartments Inc. has filed for Chapter 11 bankruptcy protection in the District of Connecticut, citing between $1 million and $10 million in debt, amid court battles with local... (more story)