Large Cap More

State AGs Take Aim At 'Texas Two-Step' In Brief To Justices

Attorneys general for 20 states and the District of Columbia urged the U.S. Supreme Court to take up a challenge to the validity of "Texas Two-Step" bankruptcies, telling the high court a Fourth Circuit ruling... (more story)

Grid Operator Defeats American Efficient's Ch. 11 Sanction Bid

A North Carolina bankruptcy judge on Friday denied energy aggregator American Efficient's requested sanctions against PJM Interconnection, saying the power grid operator's refusal to hand over $800,000 in post... (more story)

Term Lender Raises Concerns About Brightline Ch. 11 Loan

A term loan lender in the Chapter 11 case of Florida regional rail company Brightline Holdings has raised concerns about the unusual postpetition lending package in the bankruptcy, contending creditors should ... (more story)

Judge OKs Whittaker's $535M Deal, Environmental Settlement

A New Jersey bankruptcy judge approved a $535 million global settlement resolving estate claims tied to former talc supplier Whittaker Clark & Daniels Inc., a victory for corporate parent Berkshire Hathaway an... (more story)

Papaya Must Freeze US Funds Amid Israeli Case, Judge Rules

A Delaware bankruptcy judge Friday agreed to grant Chapter 15 recognition of Papaya Gaming Ltd.'s insolvency proceeding in Israel but ordered the debtor to freeze funds in its U.S. bank accounts in light of an... (more story)

Reed Smith Seeks 2nd Circ. Emergency Stay In Eletson Row

Reed Smith urged the Second Circuit in an emergency motion to pause lower court decisions requiring the firm to turn over client files related to shipping company Eletson, saying the courts have "presumed the ... (more story)

Getty Images Gets $85M DIP As Ch. 11 Case Kicks Off

Getty Images secured a Delaware bankruptcy judge's approval on Thursday to borrow $85 million in Chapter 11 financing from a Koch family affiliate, funds it will direct to senior lenders and use to support its... (more story)

Linqto Can Swap Forge For Kroll Trustee After Standoff

Investment platform Linqto can switch its liquidating trustee to a subsidiary of Kroll LLC, a Texas bankruptcy judge said Thursday, after the debtor sued to force Forge Global Holdings to perform its duties un... (more story)

Purdue Trusts Say Sackler Bid Again Destabilizes Ch. 11 Plan

The Purdue Pharma bankruptcy trust and trustees for some members of the Sackler family have filed separate documents in a New York bankruptcy court challenging moves they described as continued attempts by Ric... (more story)

Southwest Pilots Oppose Spirit's $10M Ch. 11 Data Sale

A union representing pilots at Southwest Airlines objected late Wednesday to the proposed $10 million sale of employee data by bankrupt airline Spirit Aviation, saying the deal would adversely affect flight cr... (more story)

Mid Cap More

Fla. Popeyes Franchisee Seeks Ch. 11 Exit With Global Deal

A Florida bankruptcy judge said Friday he will approve a global settlement that provides a Chapter 11 exit path for Popeyes Louisiana Kitchen franchisee Sailormen Inc., a deal reached after both the franchisor... (more story)

Rural Broadband Biz Defeats Objection To $10M Ch. 11 Loan

RiverStreet Communications, a provider of broadband, wireless and telephone services in rural Virginia and North Carolina, can access $10 million of an $80 million Chapter 11 financing package, despite an obje... (more story)

SEC Wants To Settle $152M Fraud Suit Against Fla. REIT

The U.S. Securities and Exchange Commission told a Florida federal court Friday that it wants to settle its $152 million investor fraud suit against a real estate investment trust and its founders.

NYC Building Owner Can Hand Off Property Under Ch. 11 Plan

A New York bankruptcy judge has granted Chapter 11 plan confirmation to the owner of a mixed-use property in Manhattan's SoHo neighborhood, letting it transfer the building to a secured lender that is also fun... (more story)

Creditor Fights To Block InvaTech's Bankruptcy Escape Plan

A creditor of InvaTech Pharma Solutions is asking a New Jersey bankruptcy judge to reject the generic-drug developer's request to end its Chapter 11 case, saying it should be converted into a Chapter 7 liquidation instead.

Jackson Walker Hits Back At Fee Clawback Sanction Move

Law firm Jackson Walker said Wednesday that it should not be sanctioned for failing to bring to a Texas federal judge's attention additional cases involving an undisclosed romantic relationship between a bankr... (more story)

Philly-Based Weir Names New Managing Partner

Philadelphia-based Weir LLP has shaken up its leadership team by naming a partner who has practiced at the firm for more than 25 years as its new managing partner.

SEC Nabs Ruling Against Man Behind Hotel Investment Fraud

A California federal judge granted the U.S. Securities and Exchange Commission a summary judgment win Wednesday in the commission's suit accusing a Los Angeles businessman of running two securities fraud schem... (more story)

Camp Mystic Ordered To Appoint New Independent Managers

A Texas bankruptcy judge Wednesday gave Camp Mystic one week to secure commitments from independent officials to manage the debtor's bankruptcy and litigation without interference from the Eastland family, tem... (more story)

Rural Virginia Broadband Co. Files Ch. 11 With $219M Debt

A provider of broadband, wireless and telephone services to customers in rural Virginia and North Carolina filed for Chapter 11 protection Wednesday in Norfolk, Virginia, saying it owes $219 million to lenders... (more story)

Expert Analysis

Industry On The Rocks: 5 Options For Distressed Alcohol Cos.

As the U.S. alcohol industry, long regarded as recession-resistant and reliably profitable, confronts an unprecede... (more story)

Bankruptcy Deadlines, Concessions Can Decide Lien Priority

The Fifth Circuit's recent decision in Adler v. Energy Debt Holdings warns buyers of secured claims to watch for b... (more story)

What Lawyers Should Know Before Accepting Crypto Payment

As clients increasingly request to pay legal fees, retainers and escrow funds using cryptocurrency, lawyers should... (more story)