NJ Beauty Co. Suit Over Stock-For-Consulting Deal Survives
A New Jersey federal judge allowed cosmetics company Glamour Dolls Inc. to pursue claims against an investor who the company claims promised to barter consulting services for a stake in the business, but then ... (more story)
SEC Says Fla. REIT Hid Losses In $152M Investor Scheme
The U.S. Securities and Exchange Commission claimed two real estate investment trust executives raised $152 million in a fraudulent securities offering and misrepresented the company's bleak outlook in an exte... (more story)
Colo. Sports Complex Owner Files Ch. 11 With $100M+ Debt
Future Legends LLC, the owner of a sports complex in Colorado, has filed for Chapter 11 protection in California with $100 million to $500 million in liabilities following legal battles with a local government... (more story)
3rd Circ. Upholds Alecto Health's Small-Biz Ch. 11 Plan
The Third Circuit affirmed Tuesday that hospital owner Alecto Healthcare Services' streamlined Chapter 11 and the resulting plan confirmation withstood an appeal by a creditors' group.
Spanish Steel Co. Tubos Reunidos Hits Ch. 15 In Texas
Tubos, a steel pipe maker, filed for Chapter 15 protection in a Texas bankruptcy court Tuesday, seeking recognition of a Spanish insolvency proceeding it had launched, saying U.S. tariffs damaged its business.
Simpson Thacher Stock Work Hurt 2 Companies, Jury Told
The chief financial officer for an insurance company told a Florida jury Tuesday that a stock drop for Patriot National Inc. — which is suing Simpson Thacher & Bartlett LLP for malpractice for allegedly puttin... (more story)
Bankrupt Summer Camps Owner Says Brother Handled Loans
David Shabsels, who listed $782 million of liabilities in his personal Chapter 11 bankruptcy case, said Monday he often signed loan documents that were given to him by his brother, against whom he may have fut... (more story)
W.Va. Coal Plant Hits Ch. 11, Blames Ex-Leaders
The owner of a West Virginia coal-fired power plant filed for Chapter 11 relief Monday with more than $70 million of funded debt and plans to sell the facility, with the new management installed earlier this y... (more story)
Long Island Castle Operator Says It Has Potential Ch. 11 Buyer
The owner of a century-old mansion turned hotel and event venue told a New York bankruptcy judge on Monday that it is in talks with a buyer for the property with an offer that would repay creditors in full and... (more story)
Simpson Thacher Atty Says Patriot Nat'l Founder Sank Co.
A Simpson Thacher & Bartlett LLP partner wrapped up her testimony Monday in a Florida state malpractice trial brought by the founder of Patriot National Inc., telling the jury that the founder was willing to f... (more story)