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Spirit Airlines Release Ruling Is Another Boost For Opt-Outs
A New York bankruptcy judge's decision last week to approve a contentious form of third-party release in Spirit Airlines' Chapter 11 case signals that courts are increasingly comfortable finding that a creditor's silence can be used to establish their consent, an issue hotly debated in the months since the U.S. Supreme Court's Purdue Pharma ruling.
Inflation, Manufacturing Woes Landed Aerospace Co. In Ch. 11
Quality control issues stemming from inconsistent manufacturing practices and global inflation spiking inventory costs led Dynamic Aerostructures LLC, a California-based supplier to aerospace companies like Boeing and Lockheed Martin, to seek bankruptcy protection in late February with up to $100 million in debt, according to its court papers.
Catching Up With New Bankruptcy Case Action
A business automation firm, a dermatology technology maker and a telecommunications business software group all filed for Chapter 11 with debt-for-equity swap plans. A Tex-Mex restaurant chain filed for Chapter 11 in the face of macroeconomic pressures. An energy industry engineering firm filed for bankruptcy after trade debt bogged down merger or sale efforts. A Missouri car transporter is looking to liquidate in Chapter 7, and two real estate companies filed for Chapter 11 in New York.
Spirit Airlines Release Ruling Is Another Boost For Opt-Outs
A New York bankruptcy judge's decision last week to approve a contentious form of third-party release in Spirit Airlines' Chapter 11 case signals that courts are increasingly comfortable finding that a creditor's silence can be used to establish their consent, an issue hotly debated in the months since the U.S. Supreme Court's Purdue Pharma ruling.
Inflation, Manufacturing Woes Landed Aerospace Co. In Ch. 11
Quality control issues stemming from inconsistent manufacturing practices and global inflation spiking inventory costs led Dynamic Aerostructures LLC, a California-based supplier to aerospace companies like Boeing and Lockheed Martin, to seek bankruptcy protection in late February with up to $100 million in debt, according to its court papers.
Catching Up With New Bankruptcy Case Action
A business automation firm, a dermatology technology maker and a telecommunications business software group all filed for Chapter 11 with debt-for-equity swap plans. A Tex-Mex restaurant chain filed for Chapter 11 in the face of macroeconomic pressures. An energy industry engineering firm filed for bankruptcy after trade debt bogged down merger or sale efforts. A Missouri car transporter is looking to liquidate in Chapter 7, and two real estate companies filed for Chapter 11 in New York.
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An Ohio federal judge affirmed Tuesday a bankruptcy court's decision tossing legal malpractice claims filed by a coal company executive's estate against Willkie Farr & Gallagher LLP, rejecting the estate's arg... (more story)
Bankrupt electric vehicle battery maker Northvolt AB told a Texas bankruptcy judge that its Chapter 11 case is possibly headed for dismissal after its parent company filed an insolvency case in Swedish court early Wednesday.
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The federal bankruptcy watchdog asked a New York judge Wednesday to sanction a lawyer who allegedly concealed her conflicts of interest while representing a debtor and a buyer in two separate Chapter 11 cases.
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A New York bankruptcy judge explained his February decision to approve third-party releases in budget air carrier Spirit Airlines' Chapter 11 plan, saying an opt-out mechanism of the releases is enough to esta... (more story)
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Bankrupt oil and gas company PetroQuest Energy has asked a Delaware bankruptcy judge to approve bidding procedures to sell its rights to an $8 million judgment in its favor against Sanare Energy Partners, hopi... (more story)
Pallet company PaLIoT Solutions Inc. told a Michigan federal judge on Wednesday that the issue of whether it violated a bankruptcy court's order regarding trade secrets purchased in a rival company's asset sal... (more story)
A hospital operator urged a Delaware bankruptcy judge to overrule objections to its Chapter 11 plan, arguing Wednesday that it's the only way to save three critical New Jersey medical facilities.
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Bankrupt natural gas contractor Zachry Holdings has objected to a Nebraska public electric utility's administrative claim seeking $38 million in damages for delays in the construction of new generating station... (more story)
A New York bankruptcy judge questioned Tuesday whether he could order former New York City Mayor Rudy Giuliani to sell off real estate to cover claims against his Chapter 11 estate, saying an order dismissing ... (more story)
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A Delaware bankruptcy judge on Tuesday confirmed the disclosure statement and Chapter 11 reorganization plan for bankrupt restaurant operator BurgerFi International Inc., overruling an objection from the U.S. ... (more story)
Fannie Mae told a federal court Monday that a Houston apartment complex's Chapter 11 filing was a "tactic" to avoid its obligation to repay a $73 million loan.