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Strong Demand Couldn't Stave Off Ch. 11 For Wynne
Before it filed for bankruptcy Friday, Wynne Transportation appeared to be in healthy financial shape — if it weren't for project delays and litigation with a former subcontractor tied to a state government contract to bus migrants out of Texas.
Catching Up With New Bankruptcy Case Action
California-based hospital operator Prospect Medical Holdings filed for Chapter 11 in Texas with over $1 billion in debt. Joriki USA Inc. filed for Chapter 7 with $300 million in liabilities after its Canadian parent sought creditor protection and shut down a plant due to a listeria outbreak.
Giuliani Held In Contempt Again, EPA Slams $535M Talc Deal
Former New York City Mayor Rudy Giuliani was held in contempt for a second time, Johnson & Johnson's bankrupt spinoff called Brown Rudnick's bid to represent an official committee of talc claimants "an ethical violation," and the federal government objected to a $535 million settlement that bankrupt talc supplier Whittaker Clark & Daniels reached regarding talc claims in its New Jersey Chapter 11 case.
Strong Demand Couldn't Stave Off Ch. 11 For Wynne
Before it filed for bankruptcy Friday, Wynne Transportation appeared to be in healthy financial shape — if it weren't for project delays and litigation with a former subcontractor tied to a state government contract to bus migrants out of Texas.
Catching Up With New Bankruptcy Case Action
California-based hospital operator Prospect Medical Holdings filed for Chapter 11 in Texas with over $1 billion in debt. Joriki USA Inc. filed for Chapter 7 with $300 million in liabilities after its Canadian parent sought creditor protection and shut down a plant due to a listeria outbreak.
Giuliani Held In Contempt Again, EPA Slams $535M Talc Deal
Former New York City Mayor Rudy Giuliani was held in contempt for a second time, Johnson & Johnson's bankrupt spinoff called Brown Rudnick's bid to represent an official committee of talc claimants "an ethical violation," and the federal government objected to a $535 million settlement that bankrupt talc supplier Whittaker Clark & Daniels reached regarding talc claims in its New Jersey Chapter 11 case.
Expert Analysis
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Large Cap More
Fabrics and crafts retailer Joann Inc. filed for Chapter 11 protection in Delaware bankruptcy court Wednesday with $615.7 million in debt and a plan to sell its assets, the company's second Chapter 11 filing i... (more story)
The Office of the U.S. Trustee has objected to Willkie Farr & Gallagher LLP serving as co-counsel for debtor Franchise Group Inc. in its Chapter 11, saying the firm did prepetition work for Franchise's ex-CEO ... (more story)
A Texas bankruptcy judge said Tuesday she would allow struggling hospital operator Prospect Medical Holdings Inc. to borrow part of a $100 million financing package that prompted an objection from the company'... (more story)
The developer of the Baha Mar resort in the Bahamas filed a petition Tuesday to liquidate a Chinese-owned construction firm that was hit with a $1.6 billion judgment last year by a New York court over its frau... (more story)
A Delaware federal judge Tuesday awarded over $4.2 million in fees to class counsel in a suit over alleged mismanagement of the employee stock ownership plan at bankrupt cargo hauler Western Global Airlines th... (more story)
Sen. Elizabeth Warren, D-Mass., plans to ask Treasury secretary nominee Scott Bessent at his confirmation hearing in front of the Senate Finance Committee on Thursday about President-elect Donald Trump's tax a... (more story)
OxyContin maker Purdue Pharma LP has inked a 50-page term sheet and 75-page draft master settlement agreement that could resolve its more than 5-year-old bankruptcy case after its last plan was tossed out, it ... (more story)
A failed bidder for conspiracy-monger Alex Jones' Infowars has more than doubled the amount it would pay to acquire the website, and the parent company of satirical news site The Onion is preparing to submit i... (more story)
A Randazza Legal Group attorney will represent Alex Jones in a Connecticut Supreme Court bid to erase the remainder of a $1.44 billion defamation judgment for Sandy Hook shooting victims after the Infowars hos... (more story)
Bankrupt trucking company Yellow Corp. told a Delaware bankruptcy judge on Monday that the administrators of its union pension funds have set the company's liability for ending its contributions too high.
Mid Cap More
Artificial-intelligence supported travel agency application maker Mondee Holdings Inc. filed for Chapter 11 protection in Delaware, saying it has a baseline offer for the acquisition of its assets and $49 mill... (more story)
A Delaware bankruptcy judge said Tuesday she will allow transportation service provider Wynne Transportation to borrow $2 million in initial debtor-in-possession financing on an interim basis, clearing the way... (more story)
A New York bankruptcy judge has told the Roman Catholic Diocese of Buffalo and its creditors they have until September to come up with a plan to settle the diocese's liability for approximately 900 claims of child sex abuse.
A New Zealand company that develops actuarial software products supported by artificial intelligence commenced a Chapter 15 bankruptcy case in Delaware Tuesday, saying ongoing trade secrets litigation had harm... (more story)
A Manhattan federal judge pushed back Tuesday against Rudy Giuliani's lawyer ahead of a trial on whether the former New York City mayor must turn over his Florida condo and World Series rings to help cover a $... (more story)
A California federal judge on Monday sentenced art dealer Douglas Chrismas, who founded the internationally renowned Ace Gallery, to two years in prison for embezzling hundreds of thousands of dollars from the... (more story)
Colombia's state-owned oil company on Friday won enforcement of a $1 billion arbitral award issued against Dutch and British units of Texas-based construction firm McDermott International following a dispute o... (more story)
Bankrupt cryptocurrency mining operation Mawson Infrastructure answered an involuntary Chapter 11 petition by a group of secured creditors, telling a Delaware court that the December filing is a bad faith effo... (more story)
A Pennsylvania food and beverage packaging facility has filed for Chapter 7 liquidation with over $300 million in debt on the heels of its Canadian parent company petitioning for creditor protection after one ... (more story)
The severity of a suspended Philadelphia attorney's actions when he defrauded his former firm, Sacks Weston LLC, of almost $320,000 supports the Pennsylvania Disciplinary Board's recommendation of a five-year ... (more story)