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LifeScan To Cut $1.7B Debt, Reed Smith DQ'd From Eletson
A bankruptcy trust for Rite Aid went after Walmart to defray the costs of defending opioid lawsuits. A blood glucose monitor manufacturer fought for confirmation of a reorganization plan that would cut $1.7 billion in debt. The long saga of the Eletson bankruptcy continued after a district court found the prebankruptcy ownership of the company had no legal existence and therefore no right to counsel.
Consumer Shifts, Lease Obligations Led Razzoo's To Ch. 11
Consumer behavior shifts following the COVID-19 pandemic, rising competition, heavy lease burdens and an inability to service debt have pushed Cajun restaurant chain Razzoo's to seek Chapter 11 bankruptcy protection in Texas.
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Meet The Attys In Machine Dealer GT Mid Atlantic's Ch. 11
Groff Tractor Mid Atlantic, a construction equipment dealership operator, is seeking Chapter 11 protection in Texas, estimating between $100 million to $500 million in liabilities. Guiding the private equity-owned group through bankruptcy are two attorneys with Forth Worth-based Bonds Ellis Eppich Schafer Jones LLP.
LifeScan To Cut $1.7B Debt, Reed Smith DQ'd From Eletson
A bankruptcy trust for Rite Aid went after Walmart to defray the costs of defending opioid lawsuits. A blood glucose monitor manufacturer fought for confirmation of a reorganization plan that would cut $1.7 billion in debt. The long saga of the Eletson bankruptcy continued after a district court found the prebankruptcy ownership of the company had no legal existence and therefore no right to counsel.
Consumer Shifts, Lease Obligations Led Razzoo's To Ch. 11
Consumer behavior shifts following the COVID-19 pandemic, rising competition, heavy lease burdens and an inability to service debt have pushed Cajun restaurant chain Razzoo's to seek Chapter 11 bankruptcy protection in Texas.
Meet The Attys In Machine Dealer GT Mid Atlantic's Ch. 11
Groff Tractor Mid Atlantic, a construction equipment dealership operator, is seeking Chapter 11 protection in Texas, estimating between $100 million to $500 million in liabilities. Guiding the private equity-owned group through bankruptcy are two attorneys with Forth Worth-based Bonds Ellis Eppich Schafer Jones LLP.
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Two affiliates of telecommunications financing provider Carriox Capital filed for Chapter 11 protection in a New York bankruptcy court with between $500 million and $1 billion in debt.
Cayman Islands-based Ambipar Emergency Response, which provides crisis management services for oil spills and fires, filed for Chapter 11 protection in Texas, listing more than $1 billion of assets and $328.2 ... (more story)
Families of Sandy Hook Elementary School shooting victims have pushed back against a bankruptcy trustee's attempt to relinquish equity interests in conspiracy theorist Alex Jones' Free Speech Systems LLC, tell... (more story)
The ex-CEO of formerly bankrupt Cano Health Inc. has settled a $70 million lawsuit in Florida state court by a dental services provider that sought to hold him personally liable for the collapse of its busines... (more story)
Venezuela's state-owned oil company plans to appeal a New York federal judge's recent decision ordering it to pay $2.86 billion to bondholders, after the judge ruled last month that defaulted Venezuelan bonds ... (more story)
A Texas bankruptcy judge said Monday he was prepared to approve blood glucose monitor maker LifeScan's Chapter 11 plan once he settles a dispute over administrative expense claims from pharmacy benefit manager... (more story)
Kirkland & Ellis LLP announced Monday that it has rehired a prominent trial attorney from Latham & Watkins LLP, touting his record of securing 18 complete defense verdicts and more than $1.8 billion in damages... (more story)
This past week, the Delaware Chancery Court and Supreme Court handled a crowded corporate docket, weighing blockbuster merger appeals, shareholder settlement objections, fights over control involving an NBA fr... (more story)
A New York federal judge Friday ordered Venezuela's state-owned oil firm Petróleos de Venezuela SA to pay $2.86 billion to bondholders, after ruling last month that defaulted Venezuelan bonds were validly issu... (more story)
Los Angeles County Friday said it has tentatively agreed to shell out an additional $828 million to settle hundreds of cases alleging childhood sexual abuse that occurred in county facilities, an amount that f... (more story)
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Radio frequency filter maker Akoustis Technologies received bankruptcy court approval Tuesday in Delaware for a disclosure statement describing its Chapter 11 plan of liquidation that was presented without any objection.
Warner Bros. Entertainment Inc. made a last-minute offer for the derivative rights of bankrupt movie producer Village Roadshow Entertainment Group, which helped create titles like "The Matrix" and "Ocean's Ele... (more story)
A New York bankruptcy judge Monday scaled back a fee request by Quinn Emanuel Urquhart & Sullivan LLP for the firm's work on the Firstbase.io Chapter 11 case, expressing doubt that a Third Circuit ruling the f... (more story)
A Delaware bankruptcy judge on Monday refused a bid by Heritage Coal for approval of its Chapter 11 liquidation plan, siding with the unsecured creditors committee on an objection over the plan's release provisions.
The U.S. Supreme Court agreed on Monday to hear an appeal challenging a "rigid" and "unforgivable" rule used by some bankruptcy courts that permanently blocks a debtor from pursuing litigation if they knew - b... (more story)
An international tribunal has ruled in favor of Romania in an arbitration filed by Nova Group Investments, a Netherlands-based company owned by the Romanian Adamescu family, seeking about $384 million in damag... (more story)
Former Insys Therapeutics CEO Michael Babich has consented to a $30 million settlement amid a bankruptcy trustee's efforts to recover tens of millions in damages from company officials tied to Insys' aggressiv... (more story)
A Delaware bankruptcy judge has delayed California property developer SilverRock Development Co. LLC's $65 million asset sale of a 135-acre site in La Quinta, California, to its stalking horse bidder, followin... (more story)
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a look at the real estate deal dynamics influencing the choice of lender counsel, and the law firms that gui... (more story)
A New York federal judge on Friday dismissed a sexual assault suit against the rapper son of '80s singing star Cyndi Lauper, saying the plaintiff missed her chance to argue against a bankruptcy judge's dischar... (more story)