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Under The Radar: Bankruptcy News You May Have Missed
The U.S. Trustee's Office objected to the disclosure statement filed by Flagship Resort Development Corp., arguing it lacks details on third-party releases in its Chapter 11 liquidation plan. Guardian Elder Care's creditors committee opposed extending the company's exclusivity to file a Chapter 11 plan. Nikola Corp. asked to subordinate the SEC's $125 million penalty, calling it a lower-priority debt.

Meet The Attys Steering Valves And Controls' Ch. 11
Valves and Controls US, a valve manufacturer for the oil and gas industry, has tapped attorneys from Cole Schotz PC and Weil Gotshal & Manges LLP to see it through a Chapter 11 aimed at settling asbestos claims and winding down.

Maverick Bet On Casino Turnarounds But Hit Ch. 11 Instead
Maverick Gaming LLC, a company that aimed to turn around struggling casinos and gambling operations, itself fell on hard times due to COVID-19 and competitive pressures, court documents show.
Large Cap More
During August's first full week, bankruptcy judges will hear issues including Silicon Valley Bank's former parent company's fight with Cayman Islands liquidators over standing, Genesis Healthcare's request for... (more story)
A cannabis company in the process of going out of business cannot rely on a state court receivership to shield it from creditors in other states and the owners of shuttered Norwood Hospital can't renew an expi... (more story)
Lindsey Henrikson of Paul Hastings LLP advised Colombian refinery Reficar in a high-stakes global restructuring that preserved a $1.3 billion arbitration award and secured equity in McDermott International, ea... (more story)
A Texas bankruptcy judge signed off Friday on the going-concern sale of fiber network provider Everstream, which plans to use proceeds from the $384.6 million sale of its business to exit Chapter 11.
The Fourth Circuit Friday found Georgia-Pacific asbestos unit Bestwall can stay in Chapter 11, saying a debtor's financial status has no bearing on whether a bankruptcy court has jurisdiction over its case.
The Office of the U.S. Trustee appointed a seven-member official committee of unsecured creditors in the Chapter 11 case of Genesis Healthcare, a holding company for rehabilitation centers and nursing homes in... (more story)
Federal and state courts continue to weigh litigation involving public nuisance, long-tail environmental and sexual abuse claims. Here, Law360 breaks down some of the blockbuster commercial general liability i... (more story)
Capital One told investors on Thursday that the Federal Deposit Insurance Corp. is trying to make it pay a greater share of cleanup costs from the 2023 regional banking crisis after taking issue with its call ... (more story)
The bankrupt Roman Catholic Archdiocese of New Orleans asked a Louisiana judge for additional time Thursday to work on resolving opposition to its Chapter 11 plan disclosure statement that describes a $180 mil... (more story)
Stuart Lombardi of Willkie Farr & Gallagher LLP has worked for bankruptcy clients including families seeking defamation payouts in Alex Jones' insolvency and the representative of as-yet-unknown asbestos claim... (more story)
Mid Cap More
A team of lawyers from Pachulski Stang Ziehl & Jones LLP is leading the bankruptcy case of a 3D printer designer, Desktop Metal, as the company plans to sell its assets through Chapter 11 proceedings.
Fiber network developer Tilson Technology Management Inc. asked a Delaware bankruptcy judge to approve the sale of its broadband business for about $4.2 million.
An insolvent company that developed a resort and other properties in California told a Delaware bankruptcy judge on Thursday that it had cobbled together two more weeks of Chapter 11 financing, avoiding for no... (more story)
A Delaware bankruptcy judge has refused to throw out or convert the involuntary Chapter 7 proceedings launched against the onetime hopeful developer of a casino in Mississippi, concluding the creditors that fo... (more story)
A Texas bankruptcy judge Thursday allowed 3D printer designer Desktop Metal to sell its foreign subsidiaries for $10 million as it looks to find a buyer for the rest of its assets in Chapter 11.
Two companies that mine and process sand for fracking have filed for bankruptcy in Texas, one estimating it had at least $50 million in debt and the other estimating at least $100 million, and asked to undergo... (more story)
The Second Circuit affirmed convictions for Live Well's founder for inducing lenders to extend credit by jacking up bond valuations to increase its debt and borrow against it, ruling Wednesday jurors had enoug... (more story)
Bankrupt cryptocurrency miner Rhodium told a Texas federal bankruptcy judge that a company that creates large scale cooling systems cannot bring patent infringement claims, saying Wednesday the company's claim... (more story)
Attorneys representing lessor Cobalt PropCo 2020 LLC told a Delaware bankruptcy judge Wednesday the Chapter 11 case of Bedmar LLC should be tossed because Third Circuit case law clearly requires a debtor to be... (more story)
Bankruptcy courts are authorized to decide the amount and legality of nondischargeable tax claims, an Indiana couple told the U.S. Supreme Court in a bid to overturn a Seventh Circuit ruling to the contrary.