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Policy Uncertainty, Competition Led Turbine Maker Into Ch. 11
Uncertainty around renewable energy policy, tariffs, supply chain issues and international competition led Arizona-based manufacturer of blades for wind turbines TPI Composites Inc. to file for Chapter 11.
No So-Called Summer Slowdown As Bankruptcies Spike
Summer is often a time for lawyers to worry more about their family vacations than their next bankruptcy filing. But this year is an exception, with a July surge in filings driven by the new administration's tariff and immigration policies and a normalization back to pre-pandemic levels overall, experts said.
Catching Up With New Bankruptcy Case Action
Jewelry chain Claire's filed for its second bankruptcy with $690 million in debt and plans to close 700 U.S. stores, Delaware's 4 Points Towing & Roadside Service sought Chapter 11 under Subchapter V after pandemic-driven losses, and a parking garage in New York City filed for Chapter 11 citing difficulty in keeping up with mortgage payments amid rising interest rates.
Policy Uncertainty, Competition Led Turbine Maker Into Ch. 11
Uncertainty around renewable energy policy, tariffs, supply chain issues and international competition led Arizona-based manufacturer of blades for wind turbines TPI Composites Inc. to file for Chapter 11.
No So-Called Summer Slowdown As Bankruptcies Spike
Summer is often a time for lawyers to worry more about their family vacations than their next bankruptcy filing. But this year is an exception, with a July surge in filings driven by the new administration's tariff and immigration policies and a normalization back to pre-pandemic levels overall, experts said.
Catching Up With New Bankruptcy Case Action
Jewelry chain Claire's filed for its second bankruptcy with $690 million in debt and plans to close 700 U.S. stores, Delaware's 4 Points Towing & Roadside Service sought Chapter 11 under Subchapter V after pandemic-driven losses, and a parking garage in New York City filed for Chapter 11 citing difficulty in keeping up with mortgage payments amid rising interest rates.
Expert Analysis
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Large Cap More
The operator of United Kingdom-based stores of the bankrupt jewelry retailer Claire's said Wednesday it would open an insolvency proceeding and appoint administrators, one week after Claire's filed for Chapter... (more story)
Federal regulators aren't scrutinizing risky real estate loans even though some banks have a substantial volume of high-risk debt on their books, a banking source told Law360 Real Estate Authority.
Unsecured creditors of Genesis Healthcare are asking a Delaware bankruptcy judge to amend the terms of its Chapter 11 financing to prevent corporate insiders from retaining control of the nursing home chain an... (more story)
Household furnishings retailer At Home Group Inc. hit back against objections to its Chapter 11 plan and disclosure statement lodged by creditors and the U.S. Department of Justice's bankruptcy watchdog, telli... (more story)
Scarinci Hollenbeck LLC has added four litigators previously with Kishner Legal PC who have expertise in areas such as commercial litigation and real estate as attorneys in its New York City office, the firm a... (more story)
BakerHostetler has added an experienced litigator to its white collar, investigations and securities enforcement litigation and securities and governance litigation teams in New York, bringing with him more th... (more story)
A Texas bankruptcy judge on Wednesday granted an Arizona-based manufacturer of blades for wind turbines interim access to its postpetition financing package, which includes $7.5 million in new money upfront.
The founder and former CEO of Terraform Labs on Tuesday admitted to perpetrating a multibillion-dollar fraud by deceiving investors about its decentralized finance-based ecosystem of crypto products, a scheme ... (more story)
The Chapter 11 trustee overseeing Miles Guo's estate on Tuesday asked a Connecticut bankruptcy judge for six additional months to file potential clawback claims against six of the Chinese exile's relatives and... (more story)
A New Jersey bankruptcy judge said Tuesday he will give final approval to $912.5 million in Chapter 11 financing for canned foods giant Del Monte as it seeks to find a buyer.
Mid Cap More
Grocery giant Whole Foods aimed to fend off dismissal bids Wednesday from a shopping plaza owner and landlord, telling the North Carolina Business Court that it sufficiently alleged contract breaches that led ... (more story)
The U.S. Trustee's Office objected to final approval of restaurant chain Hooters of America's Chapter 11 plan disclosure statement and confirmation of its proposal, saying there were outstanding issues with th... (more story)
A Texas bankruptcy judge Wednesday signed off on sales for Desktop Metal's three dental implant laboratories totaling $7.8 million as the 3D printing company looks to quickly exit Chapter 11.
A Delaware bankruptcy judge Wednesday approved medical technology company Accelerate Diagnostics Inc.'s Chapter 11 plan to liquidate as quickly as possible after it completed a $42 million sale to its stalking... (more story)
Stockholders and board members for the blank-check company that took electric-vehicle maker Nikola public said they reached a $6.3 million deal to end a Delaware Chancery Court lawsuit that accused the SPAC of... (more story)
The Eighth Circuit on Tuesday sided with a bankruptcy judge in discharging a woman's student loan debt owed to a North Dakota bank, saying the lower court had not made a clear error in concluding that paying o... (more story)
Fragrance portfolio company IMG Holdings Inc. and its affiliates sought Chapter 11 bankruptcy protection on Monday in Delaware, reporting $63.6 million in senior secured debt and less than $10 million in asset... (more story)
Proposed class actions filed over recalled dumbbells violated BowFlex's Chapter 11 plan and sale, a New Jersey bankruptcy judge ruled, rejecting arguments that customers didn't receive adequate notice of the "... (more story)
A Delaware bankruptcy judge on Tuesday approved Joonko Diversity Inc.'s Chapter 11 liquidation plan after the debtor resolved objections from shareholders and others, letting the artificial intelligence-powere... (more story)
A Delaware bankruptcy judge said Monday she would require the creditors that petitioned to force a cryptocurrency mining operation into Chapter 11 to post a multimillion-dollar bond in case their petition is dismissed.