Purdue Opts Into New Release Reality To Win Ch. 11 Plan OK
Shifting to an opt-in release mechanism in response to a U.S. Supreme Court ruling got Purdue's revamped Chapter 11 plan to confirmation by giving claimants the choice to pursue members of the Sackler family for civil liability, though that may prove to be a tall order, experts told Law360.
Catching Up With New Bankruptcy Case Action
Hotel company Sonder initiated a Chapter 7 after announcing plans to wind down, jewelry company Lugano entered Chapter 11 with more than $680 million in debt, and grain processor Hansen-Mueller Co. also filed for Chapter 11.
Auto Lenders Shaken By Bankruptcy, Stirring Broader Worries
The recent bankruptcies of automobile lenders Tricolor and PrimaLend were the first the sector had seen in years, making them a wake-up call for the $1.66 trillion industry that appears to have been complacent for too long about internal oversight, experts told Law360.
Purdue Opts Into New Release Reality To Win Ch. 11 Plan OK
Shifting to an opt-in release mechanism in response to a U.S. Supreme Court ruling got Purdue's revamped Chapter 11 plan to confirmation by giving claimants the choice to pursue members of the Sackler family for civil liability, though that may prove to be a tall order, experts told Law360.
Catching Up With New Bankruptcy Case Action
Hotel company Sonder initiated a Chapter 7 after announcing plans to wind down, jewelry company Lugano entered Chapter 11 with more than $680 million in debt, and grain processor Hansen-Mueller Co. also filed for Chapter 11.
Auto Lenders Shaken By Bankruptcy, Stirring Broader Worries
The recent bankruptcies of automobile lenders Tricolor and PrimaLend were the first the sector had seen in years, making them a wake-up call for the $1.66 trillion industry that appears to have been complacent for too long about internal oversight, experts told Law360.
Expert Analysis
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Large Cap More
Luxury jewelry house Lugano Diamonds & Jewelry Inc. can access up to $1.5 million in Chapter 11 financing from its majority owner as it pursues a buyer during the holiday shopping season.
A New York bankruptcy judge gave a bench ruling Tuesday explaining his decision to confirm Purdue's $7.4 billion Chapter 11 plan, which transforms the pharmaceutical giant into a public benefit company, ruling... (more story)
A Louisiana bankruptcy judge on Tuesday told bondholders they cannot argue for consolidating the bankruptcy cases of the Roman Catholic Archdiocese of New Orleans and its parishes at the ongoing confirmation h... (more story)
In a Florida federal court battle over the ownership of the Miss America pageant, the defendants have filed a competing sanctions motion against the plaintiffs and their counsel for "false narratives" followin... (more story)
Carrington Coleman Sloman & Blumenthal LLP has bulked up its corporate and mergers and acquisitions offerings with a four-attorney team from Dallas regional firm Underwood Perkins PC, including that firm's former CEO.
A New York federal judge has paused enforcement of nearly $3 billion in defaulted Venezuelan-issued bonds until a winning bidder for the country's most important seizable asset — the parent company of the oil ... (more story)
A former employee of Sonder Holdings Inc. on Monday slapped the company with a class action suit alleging it failed to give staff fair warning of mass layoffs shortly before it entered Chapter 7 bankruptcy.
Bankrupt for-profit hospital operator Prospect Medical Holdings Inc. on Monday sought approval for the $35 million sale of Waterbury Hospital in Connecticut to two UConn Health units under a stalking horse bid... (more story)
A Texas bankruptcy judge Monday said he plans to approve the appointment of an examiner for auto parts maker First Brands' Chapter 11, but held off on entering an order while parties decide the probe's scope and direction.
A Louisiana bankruptcy judge Monday blessed over $29 million in insurance settlements between the Roman Catholic Diocese of New Orleans and its insurers as a scheduled two weeks of hearings on the archdiocese'... (more story)
Mid Cap More
23andMe asked a Missouri bankruptcy judge to approve a deal that will modify a settlement with data breach claimants to encompass more claims and pay $9 million, saying doing so will avoid litigation.
Hollywood studio Warner Brothers asked a Delaware bankruptcy judge on Tuesday to pause the $18.5 million sale of its bankrupt former business partner Village Roadshow's derivative film rights while it challenges the deal.
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The Delaware Chancery Court and Delaware Supreme Court last week had a dense slate of fiduciary duty battles, merger-process challenges, post-bankruptcy fights and a series of cases probing the limits of fraud... (more story)
Mawson Infrastructure Group has accused its former CEO in Delaware's Chancery Court of concealing the bitcoin mining company's deteriorating finances and the collapse of a key prospective contract so he could ... (more story)
A Texas bankruptcy judge has granted the Chapter 15 petition of the United Kingdom unit of jewelry maker Fossil, giving U.S. recognition of a deal that will restructure $150 million in unsecured notes, drum up... (more story)
The liquidating trustee for bankrupt drug developer Tricida has filed a complaint in U.S. Bankruptcy Court for the District of Delaware accusing seven former executives and directors, along with an investment ... (more story)
Ronit Berkovich of Weil Gotshal & Manges LLP's bankruptcy practice ascended to co-chair of her team and helped guide Avon Products through a roughly $1.3 billion Chapter 11 case to plan confirmation, earning h... (more story)
Former banking middleware firm Synapse Financial Technologies Inc.'s Chapter 11 has been dismissed by a California bankruptcy judge after the debtor said it didn't have the funds to try to sell its assets again.