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What's Happening In Bankruptcy Court This Coming Week
Purdue will ask a bankruptcy court to approve a retention incentive package for its CEO. Tilson Technology is scheduled for a hearing on its request for permission to complete a proposed asset sale. And the judge overseeing Steward Health Care's bankruptcy will consider whether to compel two hospital buyers to make payments and defend against accusations of contempt.
New Bankruptcy Group Modernizing Data Hack Response
A trio of claims and noticing agents is working with chief clerks from two of the nation's most influential bankruptcy courts to standardize the way they will respond if there is a data breach that compromises creditors' personal information.
Under The Radar: Bankruptcy News You May Have Missed
Cryptocurrency miner Rhodium asked a bankruptcy judge to impose sanctions on a company that is asserting patent infringement claims in its Chapter 11 case. An implant manufacturer asked for a court's go-ahead to incentivize certain staff to stay with a $220,000 bonus. And an Austrian biotechnology company's representative wants subpoena power in its Chapter 15.
What's Happening In Bankruptcy Court This Coming Week
Purdue will ask a bankruptcy court to approve a retention incentive package for its CEO. Tilson Technology is scheduled for a hearing on its request for permission to complete a proposed asset sale. And the judge overseeing Steward Health Care's bankruptcy will consider whether to compel two hospital buyers to make payments and defend against accusations of contempt.
New Bankruptcy Group Modernizing Data Hack Response
A trio of claims and noticing agents is working with chief clerks from two of the nation's most influential bankruptcy courts to standardize the way they will respond if there is a data breach that compromises creditors' personal information.
Under The Radar: Bankruptcy News You May Have Missed
Cryptocurrency miner Rhodium asked a bankruptcy judge to impose sanctions on a company that is asserting patent infringement claims in its Chapter 11 case. An implant manufacturer asked for a court's go-ahead to incentivize certain staff to stay with a $220,000 bonus. And an Austrian biotechnology company's representative wants subpoena power in its Chapter 15.
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A recent Texas bankruptcy court decision that a postconfirmation litigation trust has no obligations to repay a co... (more story)
Large Cap More
A Texas federal court has ruled that aircraft-parts supplier Incora's controversial "uptier" debt exchange was "proper and appropriate," reversing a bankruptcy judge more than a year after he threw out the dea... (more story)
A hedge fund manager and his firm will pay more than $9 million to end a long-running lawsuit alleging that they shortchanged investors when they took Sears Hometown and Outlet Stores Inc. private in 2019, acc... (more story)
Jackson Walker LLP says a proposed bondholders' class action accusing the firm of covering up a romance between a one-time partner and bankruptcy judge is an attempt at invalidating an already confirmed Chapte... (more story)
Raines Feldman Littrell LLP announced Friday that it has added seven new attorneys to its ranks, adding bicoastal legal talent across four different practice areas.
A Texas bankruptcy judge agreed Monday to hear arguments over a request for sanctions against a buyer of Steward Health Care's hospitals, after a pair of vendors for the insolvent hospital operator alleged the... (more story)
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including attorney perspectives on commercial mortgage-backed securities distress, the dawn of nuclear-powered data ce... (more story)
The wife of Chinese exile and convicted security fraud defendant Miles Guo lost her bid to shield a $6.9 million Greenwich mansion from her husband's creditors when a Connecticut federal judge ruled Friday tha... (more story)
An alternative investment firm pressed the U.S. Supreme Court to not review a Fifth Circuit decision narrowing releases and so-called "gatekeeper" provisions in bankrupt Texas investment group Highland Capital... (more story)
This past week in London has seen former Master Chef presenter Gregg Wallace sue the BBC, Elon Musk's xAI take legal action against a staff engineer, and fashion mogul Kevin-Gerald Stanford file a fresh claim ... (more story)
A California federal judge pushed back Thursday on arguments by Tom Girardi's lawyer that he should be free on bond while he appeals his wire fraud conviction, saying that debating the case doesn't automatical... (more story)
Mid Cap More
A group of debtors has claimed that CVS Caremark Corp. and its entities are withholding more than $7 million in rent because a "serial litigant" wrongfully alleged that he owns both the properties that CVS ren... (more story)
Merit Street Media's official committee of unsecured creditors has thrown its support behind a proposed $17 million Chapter 11 settlement funded by Dr. Phil McGraw's production company Peteski Productions, say... (more story)
A Texas bankruptcy judge Monday granted final approval of a $6.5 million debtor-in-possession lending facility for a company that provides medication to patients in long-term care facilities across seven U.S. ... (more story)
Bankrupt fiber network developer Tilson Technology Management Inc. received court approval Monday for a $22.07 million sale of its assets to ITG Communications LLC after a robust marketing process resulted in ... (more story)
A Delaware bankruptcy judge on Monday approved Exactech's Chapter 11 sale and liquidation plan that drops a previous deal with the joint implant maker's equity sponsor in favor of funding the pursuit of potent... (more story)
The federal government's claim that a beneficiary of offshore trusts is likely to spend down assets to avoid a $28 million tax bill lacks evidence, the beneficiary argued in urging a Florida federal court not ... (more story)
Pinstripes Holdings Inc., a restaurant chain offering bocce ball and bowling alongside fettuccine bolognese, has hired attorneys from Young Conaway Stargatt & Taylor LLP to guide the bankruptcy it entered with... (more story)
The former CEO of Boston Sports Clubs is liable for $6 million in damages and interest, because he approved a plan to charge gym members while the clubs were shuttered at the start of the coronavirus pandemic,... (more story)
23andMe has asked a Missouri bankruptcy judge to approve a $3.25 million settlement reached with a class of 300,000 Canadian citizens whose information was compromised following a cybersecurity breach, touting... (more story)
Flagship Development Group, an insolvent timeshare business in Atlantic City, asked a New Jersey bankruptcy judge Friday to approve its Chapter 11 plan and lender settlement, arguing that its third-party relea... (more story)