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Bankrupt Omnicare Faced Myriad Woes Before $1B Judgment
A nearly $1 billion judgment for falsely billing the government for prescriptions sent Omnicare into bankruptcy, but Medicare and Medicaid reimbursement issues and other difficulties had been weighing on the nursing home pharmacy for years.
Catching Up With New Bankruptcy Case Action
A software company in the educational technology industry initiated Chapter 11 proceedings with more than $1 billion in debt. A restaurant chain that abruptly closed its locations last month began a Chapter 7. And an entity seemingly related to a 100-year-old hotel's renovation entered Chapter 11 bankruptcy hauling at least $50 million in debt.
Lender Favors In Ch. 11 Get Riskier With ConvergeOne Ruling
Companies that offer incentives to select lenders in bankruptcy could face new legal challenges following a Texas federal court's ruling in the case of ConvergeOne, whose Chapter 11 plan was found to have violated the law by excluding certain creditors from a lucrative equity offering, experts told Law360.
Bankrupt Omnicare Faced Myriad Woes Before $1B Judgment
A nearly $1 billion judgment for falsely billing the government for prescriptions sent Omnicare into bankruptcy, but Medicare and Medicaid reimbursement issues and other difficulties had been weighing on the nursing home pharmacy for years.
Catching Up With New Bankruptcy Case Action
A software company in the educational technology industry initiated Chapter 11 proceedings with more than $1 billion in debt. A restaurant chain that abruptly closed its locations last month began a Chapter 7. And an entity seemingly related to a 100-year-old hotel's renovation entered Chapter 11 bankruptcy hauling at least $50 million in debt.
Lender Favors In Ch. 11 Get Riskier With ConvergeOne Ruling
Companies that offer incentives to select lenders in bankruptcy could face new legal challenges following a Texas federal court's ruling in the case of ConvergeOne, whose Chapter 11 plan was found to have violated the law by excluding certain creditors from a lucrative equity offering, experts told Law360.
Expert Analysis
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BML Properties, the developer of the Baha Mar resort in the Bahamas, defended its bid to bring direct claims against the parent company of CCA Construction, telling a New Jersey bankruptcy judge that CCA's est... (more story)
CVS Pharmacy Inc. has asked a New Jersey bankruptcy judge to enforce his May order approving the sale of 625 Rite Aid pharmacy operations and 64 drug stores, alleging the debtor has not provided druggist insur... (more story)
The U.S. Court of Appeals for the Third Circuit declined Tuesday to reconsider backing a New Jersey federal judge's class certification order in a Johnson & Johnson investor action alleging the company artific... (more story)
A Delaware bankruptcy judge said she would review proposed changes to the Chapter 11 plan disclosure from firefighting foam maker Kidde-Fenwal after expressing concern at a hearing Monday about not getting a l... (more story)
A federal district court judge blocked President Donald Trump's removal of three members of the Financial Oversight and Management Board for Puerto Rico who had accused the president of illegally firing them without cause.
A Texas bankruptcy judge on Monday permitted Modivcare to send its Chapter 11 plan out for a vote, saying he was going to trust the debtor to move expeditiously towards a confirmation hearing but would divert ... (more story)
Orrick Herrington & Sutcliffe LLP announced Monday that it has opened a new office in Charlotte, North Carolina, and added a 37-lawyer collateralized loan obligations and asset-backed lending team from Cadwala... (more story)
The U.S. Supreme Court on Monday rejected six petitions in patent-related cases, taking some of its first actions on intellectual property matters this term.
The U.S. Supreme Court will hear oral arguments in six cases during the first week of its October 2025 term, including in disputes over federal candidates' ability to challenge state election laws, Colorado's ... (more story)
After a busy summer of emergency rulings, the U.S. Supreme Court will kick off its October 2025 term Monday with only a few big-ticket cases on its docket — over presidential authorities, transgender athletes ... (more story)
Mid Cap More
A Texas bankruptcy court on Tuesday said it will grant interim approval for Cajun restaurant chain Razzoo's Inc.'s $3.3 million debtor-in-possession financing facility provided by its prepetition lender, First Horizon Bank.
Specialty medical practice Global Wound Care has told a Texas bankruptcy judge it is waiting on $27.2 million in Medicare reimbursement payments, saying the risk that the delays could put it into a liquidity c... (more story)
A Delaware bankruptcy judge on Tuesday approved job search site CareerBuilder + Monster's Chapter 11 plan after the debtor struck a deal that could help holders of unsecured claims land a recovery.
US Magnesium told a Delaware bankruptcy judge Monday that it would temporarily set aside requests to borrow Chapter 11 financing and launch a sale process, as unsecured creditors push to convert the case to a ... (more story)
The city of Chester has asked a Pennsylvania bankruptcy judge to reject a request from the Chester Water Authority for relief from the automatic stay in the city's Chapter 9 case, saying the CWA was renewing a... (more story)
A company and several affiliates associated with convicted real estate investment fraudster Moshe "Mark" Silber filed for Chapter 11 on Monday in New Jersey bankruptcy court with up to 199 estimated creditors ... (more story)
Restaurant chain Iron Hill Brewery filed for Chapter 7 protection in New Jersey court about 10 days after it abruptly closed all of its locations and told employees it would be pursuing bankruptcy.
A Delaware bankruptcy judge has approved pharmaceutical services company Azzur Group's revised Chapter 11 plan five months after it failed to confirm the first version.
The U.S. Supreme Court on Monday declined to take up two whistleblowers' case alleging the U.S. Securities and Exchange Commission shortchanged them after they helped to uncover purportedly the largest fraud i... (more story)
The U.S. Trustee's Office has asked a Delaware bankruptcy judge to reject the proposed debtor-in-possession financing for U.S. Magnesium, saying the terms hand control of the case to the DIP lender and propose... (more story)