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, Sunnova Score Approvals For Ch. 11 Plans
Purdue Pharma secured a judge's approval of its new bankruptcy plan. The U.S. Supreme Court won't review a ruling regarding the Serta Simmons Chapter 11 plan. And solar panel company Sunnova also got a court's permission to implement a bankruptcy plan.
New Orleans Diocese's $230M Ch. 11 Deal To Face Lender Fire
After five years in bankruptcy, the New Orleans Catholic diocese is heading for a high-stakes, multiday trial on its Chapter 11 plan on Monday with the support of sexual abuse claimants who cut a $230 million deal for survivors, but strong opposition from bondholders facing a more than $20 million haircut.
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, Sunnova Score Approvals For Ch. 11 Plans
Purdue Pharma secured a judge's approval of its new bankruptcy plan. The U.S. Supreme Court won't review a ruling regarding the Serta Simmons Chapter 11 plan. And solar panel company Sunnova also got a court's permission to implement a bankruptcy plan.
New Orleans Diocese's $230M Ch. 11 Deal To Face Lender Fire
After five years in bankruptcy, the New Orleans Catholic diocese is heading for a high-stakes, multiday trial on its Chapter 11 plan on Monday with the support of sexual abuse claimants who cut a $230 million deal for survivors, but strong opposition from bondholders facing a more than $20 million haircut.
Expert Analysis
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Large Cap More
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)
Brett Miller of Willkie Farr & Gallagher LLP represented the unsecured creditors' committees of leading Scandinavian airline SAS AB, Chilean telecom WOM SA, Brazilian airline Gol Linhas Aéreas Inteligentes SA ... (more story)
A Delaware bankruptcy judge confirmed the Chapter 11 plan of bankrupt trucking firm Yellow Corp. on Monday, saying the costs of protracted litigation and claims disputes would eat into creditor recoveries if t... (more story)
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)
Luxury jewelry house Lugano Diamonds & Jewelry Inc. has hit Chapter 11 in Delaware with more than $680 million in debt as it seeks to recover from its former CEO's alleged fraudulent diamond transactions.
The U.S. Supreme Court on Monday declined to take up Latin America airline Avianca's challenge to the Second Circuit's decision that aircraft lease broker fees that became due during its Chapter 11 were admini... (more story)
Mid Cap More
Porzio Bromberg & Newman PC has asked the New Jersey federal court to dismiss a Louisiana doctor's lawsuit accusing the firm and one of its attorneys of legal malpractice, arguing the physician lacks standing ... (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.
A Texas bankruptcy judge on Thursday significantly trimmed a request by Merit Street Media to pay administrative expenses in its bankruptcy case, expressing concern that the company is appealing its case's Cha... (more story)
In October 2023, the Southern District of Texas' rising bankruptcy court was shaken by the sudden resignation of then-U.S. Bankruptcy Judge David R. Jones, after a lawsuit and media reports revealed he had bee... (more story)
A Texas bankruptcy judge on Thursday approved casino operator Maverick Gaming's sales of a casino in Colorado for $25.5 million and card rooms in Washington state, months after the company received permission ... (more story)
A Texas federal judge has paused a number of settlements between Jackson Walker LLP and former clients, criticizing the firm for trying to undermine the U.S. Trustee's investigation into alleged malpractice st... (more story)