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Catching Up With New Bankruptcy Case Action
An auto parts maker commenced a Chapter 11 case with more than $10 billion of debt. An educational technology company is seeking to sell its assets in bankruptcy to cover more than $1 billion in obligations. And two single-asset real estate firms filed for bankruptcy protection as they faced foreclosure or default actions from lenders.
Meet The New Acting US Trustee For Indiana, Illinois
Monica Kindt has been named by Attorney General Pamela Bondi as the acting U.S. Trustee for Indiana and for the Central and Southern Districts of Illinois, Region 10, succeeding Nancy J. Gargula, who retired after more than two decades of service to the U.S. Trustee Program.
Spirit Airlines Settles With AerCap, Dr. Phil Defends Layoffs
Spirit Airlines reached a global settlement with its largest lessor, AerCap, clearing a major hurdle in its second Chapter 11 case. 23andMe received a Missouri bankruptcy court's approval to include up to $86.5 million in data breach settlements in its Chapter 11 plan. Dr. Phil defended layoffs at his joint venture with Trinity Broadcasting, saying the job cuts were necessary due to financial constraints. And FTX's recovery trust sued Genesis Digital Assets to reclaim more than $1 billion the cryptocurrency exchange invested in it before bankruptcy.
Catching Up With New Bankruptcy Case Action
An auto parts maker commenced a Chapter 11 case with more than $10 billion of debt. An educational technology company is seeking to sell its assets in bankruptcy to cover more than $1 billion in obligations. And two single-asset real estate firms filed for bankruptcy protection as they faced foreclosure or default actions from lenders.
Meet The New Acting US Trustee For Indiana, Illinois
Monica Kindt has been named by Attorney General Pamela Bondi as the acting U.S. Trustee for Indiana and for the Central and Southern Districts of Illinois, Region 10, succeeding Nancy J. Gargula, who retired after more than two decades of service to the U.S. Trustee Program.
Spirit Airlines Settles With AerCap, Dr. Phil Defends Layoffs
Spirit Airlines reached a global settlement with its largest lessor, AerCap, clearing a major hurdle in its second Chapter 11 case. 23andMe received a Missouri bankruptcy court's approval to include up to $86.5 million in data breach settlements in its Chapter 11 plan. Dr. Phil defended layoffs at his joint venture with Trinity Broadcasting, saying the job cuts were necessary due to financial constraints. And FTX's recovery trust sued Genesis Digital Assets to reclaim more than $1 billion the cryptocurrency exchange invested in it before bankruptcy.
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Large Cap More
A New York bankruptcy judge trimmed an adversary suit Monday claiming McKinsey & Co. Inc. should pay at least $1.5 billion to cover costs bankrupt pharmaceutical developer Endo International racked up defendin... (more story)
First Brands, an automotive parts producer that recently launched a Chapter 11 case with more than $10 billion of debt, has said it launched an investigation into transactions the company entered to secure liquidity.
The CEO and chief financial officer of embattled budget airline Spirit face proposed shareholder class action claims that they misled investors about the company's prospects after its emergence from bankruptcy... (more story)
A New York bankruptcy judge has thrown out $324 million of claims against London-based HSBC and its affiliates that were brought by the trustee overseeing the liquidation of Bernie Madoff's bankruptcy estate, ... (more story)
Spirit Airlines has lined up $475 million in Chapter 11 financing, its attorney told a New York bankruptcy judge Tuesday at a hearing in which he also shared that its largest lessor, AerCap, would be giving th... (more story)
Anthology Inc., a software company in the educational technology space, filed for Chapter 11 protection in a Texas bankruptcy court with more than $1 billion in debt, saying it intends to sell parts of its bus... (more story)
A Delaware bankruptcy judge Tuesday said she would approve household furnishings retailer At Home Group Inc.'s plan to cut $1.6 billion in funded debt with an equity swap the company said was supported by near... (more story)
The U.S. Supreme Court held its first conference Monday, presenting the justices with several petitions of interest to patent practitioners before the court's new term kicks off next week.
Automotive manufacturer Grammer Inc. filed a suit in the Delaware Chancery Court accusing APC Parent LLC and guarantor First Brands Group, which filed for Chapter 11 protection on Sunday, of breaching multiple... (more story)
A New York bankruptcy judge Monday found the liquidators of Silicon Valley Bank's Cayman Islands branch lacked standing in their bid to bring some $944 million in claims, ruling that the officials failed to ti... (more story)
Mid Cap More
A Texas bankruptcy judge Tuesday approved a liquidation plan for bankrupt 3D printer designer Desktop Metal Inc. after the debtor struck an agreement with its parent company and key lender.
The Third Circuit Court of Appeals on Tuesday pressed attorneys for Delaware County and municipal bondholders on why their liens on city-generated revenues carried forward when the Pennsylvania city of Chester... (more story)
A Chapter 7 trustee and a minority shareholder have offered to drop a sprawling lawsuit against a New York and Connecticut real estate mogul and other company leaders in exchange for $40 million, less than two... (more story)
A Texas bankruptcy judge Tuesday approved restaurant chain Hooters of America's plan to sell more than 100 restaurants to a group of franchisees and exit Chapter 11, confirming the debtor's reorganization plan... (more story)
The bankruptcy judge presiding over the Chapter 11 case of Merit Street Media expressed his concerns Monday over some of the evidence presented during a multi-day trial over motions to dismiss the company's ba... (more story)
A Washington state bank has been accused of keeping afloat a real estate investment firm's $230 million Ponzi scheme by maintaining the enterprise's accounts even when evidence of fraud surfaced, according to ... (more story)
Bankrupt equipment sale and rental company Worldwide Machinery filed a motion late Friday in Texas court seeking approval of a $65.6 million sale of its assets pursuant to a prepetition marketing process.
A Delaware bankruptcy judge Monday refused to compel online furniture retailer Walker Edison to set aside around $4 million from a potential sale for a logistics company, which asserted it has a lien justifying the reserve.
Pharmaceutical services company Azzur Group objected to a motion from the U.S. Trustee's Office seeking to compel the debtor to file an amended Chapter 11 plan after it failed to confirm its last plan in May.
A New York bankruptcy judge has told Empire Cannabis Club to surrender the property it leases at a location in Brooklyn to its landlord, ruling the bankrupt tenant effectively rejected the lease because it nev... (more story)