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Catching Up With New Bankruptcy Case Action
Restaurant chain Hooters launched a Chapter 11 case with about $380 million in debt, saying it has reached a deal to shed its company-owned restaurants and trade debt for equity. Gastropub chain Bar Louie filed for bankruptcy, listing nearly $70 million of debt, about five years after its creditors took over the business during a previous bankruptcy. And a sustainability-focused financial services company filed for Chapter 11 less than a month after the firm's founder was arrested and charged with fraud.
Meet The Attorneys Directing Hooters' Ch. 11
A team of lawyers from Foley & Lardner LLP and Ropes & Gray LLP is leading the bankruptcy case for the restaurant chain Hooters, which has reached a deal to shed its company-owned locations and exchange trade debt for equity.
Ex-US Trustee Head Appeals Firing, Purdue Case Extended
The former director of the U.S. Trustee's Office appealed her removal, alleging the government lacked cause and violated due process. Meanwhile, Purdue Pharma secured more time to protect itself and the Sackler family from lawsuits as the company seeks approval for a $7.4 million opioid settlement plan. And FTX told a court it has $11.4 billion ready for creditors but is still reviewing a massive volume of claims before the distribution.
Catching Up With New Bankruptcy Case Action
Restaurant chain Hooters launched a Chapter 11 case with about $380 million in debt, saying it has reached a deal to shed its company-owned restaurants and trade debt for equity. Gastropub chain Bar Louie filed for bankruptcy, listing nearly $70 million of debt, about five years after its creditors took over the business during a previous bankruptcy. And a sustainability-focused financial services company filed for Chapter 11 less than a month after the firm's founder was arrested and charged with fraud.
Meet The Attorneys Directing Hooters' Ch. 11
A team of lawyers from Foley & Lardner LLP and Ropes & Gray LLP is leading the bankruptcy case for the restaurant chain Hooters, which has reached a deal to shed its company-owned locations and exchange trade debt for equity.
Ex-US Trustee Head Appeals Firing, Purdue Case Extended
The former director of the U.S. Trustee's Office appealed her removal, alleging the government lacked cause and violated due process. Meanwhile, Purdue Pharma secured more time to protect itself and the Sackler family from lawsuits as the company seeks approval for a $7.4 million opioid settlement plan. And FTX told a court it has $11.4 billion ready for creditors but is still reviewing a massive volume of claims before the distribution.
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Large Cap More
Following more than a decade at Morgan Lewis & Bockius LLP, the firm's former bankruptcy, restructuring and insolvency co-head has joined Moore & Van Allen PLLC as a member.
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A Texas bankruptcy judge on Tuesday agreed to dismiss the Chapter 11 cases of electric vehicle battery maker Northvolt AB at the company's request, after its parent commenced a bankruptcy case in Sweden.
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Restaurant chain Hooters filed for Chapter 11 protection in a Texas bankruptcy court late Monday with about $380 million in debt, saying it has reached a deal to shed its company-owned restaurants and trade debt for equity.
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Furniture and appliance retailer Conn's Inc. received a Texas bankruptcy judge's approval Monday to pay a group of former W.S. Badcock dealers about $2 million to settle their potential claims in the Chapter 1... (more story)
Mid Cap More
A collection of 15 debtors in the corporate family of attraction operator The Dolphin Company were pushed toward bankruptcy by woes including defaults on secured notes, dysfunctional negotiations with creditor... (more story)
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A Texas bankruptcy judge said Monday that a committee to represent mineral rights owners in Scanrock Oil & Gas Inc.'s Chapter 11 isn't currently needed but that he would revisit a request to form one at a later date.
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A cannabis producer in California has moved to enter receivership in state court, disclosing more than $173 million in liabilities and saying a 2023 merger with its parent company proved to be a "financial disaster."
Sustainability-focused financial services company Aspiration Partners Inc. filed for Chapter 11 protection in Delaware, less than a month after founder Joseph Sanberg was arrested and hit with federal fraud charges.