Project disruptions, payment delays and rising operating costs following the COVID-19 pandemic put significant pressure on liquidity and working capital, leading New Jersey-based marine services provider Atlantic Subsea Inc. to file for Chapter 11 bankruptcy.
A New York bankruptcy judge installed a mediator in a condo board's case, a meal kit company asked for more time to file Chapter 11 plans without competition, and law firm Reed Smith LLP balked at an attempt to make it turn over documents in a reorganized shipping company's bankruptcy.
Investment firm 777 Partners has hired a clutch of lawyers from Gray Reed & McGraw LLP to help it navigate the bankruptcy it began with nearly $3 billion of debt after a creditor's involuntary Chapter 7 petition expedited its Chapter 11 plans.