Mid Cap
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August 12, 2025
IMG Fragrance Company Hits Ch. 11 With $64M In Debt
Fragrance portfolio company IMG Holdings Inc. and its affiliates sought Chapter 11 bankruptcy protection on Monday in Delaware, reporting $63.6 million in senior secured debt and less than $10 million in assets, and aiming for a $3 million asset and trademark sale to creditor Fragrance Xtreme Inc.
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August 12, 2025
NJ Bankruptcy Judge Nixes BowFlex Dumbbells Class Claims
Proposed class actions filed over recalled dumbbells violated BowFlex's Chapter 11 plan and sale, a New Jersey bankruptcy judge ruled, rejecting arguments that customers didn't receive adequate notice of the "free and clear" sale.
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August 12, 2025
Catching Up With New Bankruptcy Case Action
Jewelry chain Claire's filed for its second bankruptcy with $690 million in debt and plans to close 700 U.S. stores, Delaware's 4 Points Towing & Roadside Service sought Chapter 11 under Subchapter V after pandemic-driven losses, and a parking garage in New York City filed for Chapter 11 citing difficulty in keeping up with mortgage payments amid rising interest rates.
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August 12, 2025
Meet The Attys Helping Powin Power Through Ch. 11
Powin LLC, a company that manufactures batteries for green energy projects, has tapped attorneys from Dentons and Togut Segal & Segal LLP to help steer the bankruptcy it started in June to address an "untenable" liquidity position.
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August 12, 2025
AI Staffing Co. Joonko Gets OK To Wind Down In Ch. 11
A Delaware bankruptcy judge on Tuesday approved Joonko Diversity Inc.'s Chapter 11 liquidation plan after the debtor resolved objections from shareholders and others, letting the artificial intelligence-powered recruitment firm wind down its business and repay creditors.
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August 11, 2025
Meet The Attys Steering Nightclub Co. Avant Gardner's Ch. 11
A team of attorneys from Young Conaway Stargatt & Taylor LLP is representing the owner of New York City nightclub Brooklyn Mirage in its Chapter 11 case.
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August 11, 2025
Claire's Starts Store Sales, Linqto Defeats Venue Transfer Bid
Jewelry company Claire's announced it would launch store closing sales after seeking bankruptcy protection for the second time in less than a decade. Meanwhile, a judge gave the Archdiocese of New Orleans one last chance to secure confirmation of a Chapter 11 plan, and Linqto managed to keep its bankruptcy case in Texas.
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August 11, 2025
Judge To Order Bond, Sanctions In Crypto Miner's Ch. 11
A Delaware bankruptcy judge said Monday she would require the creditors that petitioned to force a cryptocurrency mining operation into Chapter 11 to post a multimillion-dollar bond in case their petition is dismissed.
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August 11, 2025
Stoli Banker Says It Can't Accept Bourbon As Ch. 11 Recovery
The secured lender to Stoli Group USA Monday asked a Texas bankruptcy judge to reject the vodka maker's proposed Chapter 11 plan, saying the company is trying to shortchange it by paying its debt in bourbon.
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August 11, 2025
Catching Up With Delaware's Chancery Court
Nielsen Holdings Ltd. and consumer intelligence spinoff Nielsen Consumer IQ agreed to end their dispute, a sole investor asked the court to name him lead plaintiff in a suit challenging Endeavor's $13 billion take-private deal, and the Chancery Court announced a new, automated case assignment regime. Here's the latest from the Delaware Chancery Court.
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August 11, 2025
Truck Rental Co. Fluid Market Asks For Ch. 7 After Ch. 11 Sale
Truck rental business Fluid Market Inc. asked a Delaware bankruptcy judge to let it convert its case to a Chapter 7 liquidation after completing a sale in December and reaching a settlement with its creditors, its buyer and its postpetition lenders.
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August 11, 2025
Fla. Drinks Co. Founder Faces Filings Ban Over Fake AI Cases
A Florida federal judge is considering a request to ban the founder of Bang Energy from submitting any more paperwork without court permission after Monster Energy argued Monday that fake legal citations generated from artificial intelligence appeared in a pro se motion to dismiss its judgment collection lawsuit.
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August 11, 2025
2nd Circ. Affirms Denial Of Partnership's $22.7M Tax Loss
The U.S. Tax Court correctly found the IRS properly denied a Connecticut partnership's $22.7 million loss deduction because the underlying transactions, which involved a Brazilian company, were tantamount to a disguised property sale, the Second Circuit ruled Monday.
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August 08, 2025
CFPB Preps Complaint Against Failed Fintech Firm Synapse
The Consumer Financial Protection Bureau is getting ready to file a complaint against bankrupt Synapse Financial Technologies on allegations it failed to properly keep track of consumer funds and left as much as $90 million in consumer funds unrecovered, the fintech firm's trustee has told a bankruptcy judge in California.
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August 08, 2025
Ch. 7 Claim Can't Nab Early Win For Litigation, 2nd Circ. Says
A medical device distributor can't use an allowed claim from a former employee's Chapter 7 bankruptcy to win summary judgment in a long-running lawsuit, the Second Circuit ruled Friday.
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August 08, 2025
George Clinton Fights Sanctions In Decades-Long IP Battle
Funk legend George Clinton has asked a Florida federal court to reject sanctions and lawsuit dismissal bids from music executive Armen Boladian, arguing that his copyright ownership complaint is not frivolous.
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August 08, 2025
Titanic Artifact Ch. 11 Sale Suit Settled For $12M
A Florida bankruptcy judge Friday approved an $11.75 million settlement of a long-standing adversary lawsuit over the sale of artifacts from the Titanic during the bankruptcy of a company that ran popular traveling exhibits about the ship.
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August 08, 2025
1st Circ. Backs Creditors Cut Offs In Involuntary Bankruptcies
The First Circuit recently upheld the dismissal of an involuntary bankruptcy, backing a Boston judge who set a deadline for creditors to join the petition, in a ruling that speaks to the pitfalls that can come with the powerful but seldom used creditor tool, experts told Law360.
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August 08, 2025
Prison Health Co. Spinoff Can't Duck Some Inmates' Suits
A Texas bankruptcy judge is allowing some incarcerated individuals to continue suing a company that was spun off from prison healthcare provider Tehum Care Services prior to its Chapter 11 filing, after finding that certain inmates are not bound by the third-party release in Tehum's bankruptcy plan because they were not given a chance to opt out.
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August 08, 2025
What's Happening In Bankruptcy Court This Coming Week
Bankruptcy judges are scheduled for a potentially four-day confirmation hearing on the Chapter 11 plan of the U.S. arm of vodka maker Stoli, while also considering final approval of a $912.5 million financing package for canned foods giant Del Monte, a proposed $17.5 million sale of some of the brands of tile and stone seller Mosaic Cos., and perhaps a dismissal or conversion hearing in the Chapter 11 case of MOM CA Investco LLC, a company that developed a resort and other properties in California.
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August 08, 2025
Atlantic City Timeshare Seller Gets Ch. 11 Sale Approved
Flagship Resort Development Corp., a seller of timeshares around the Atlantic City Boardwalk, secured a New Jersey bankruptcy judge's blessing Friday to sell its assets and take votes on a Chapter 11 liquidation plan after striking a settlement with unsecured creditors in the case.
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August 07, 2025
CFPB Mulls Cuts To Oversight Reach In 4 Nonbank Markets
The Consumer Financial Protection Bureau is considering formally scaling back the reach of its nonbank oversight, floating a series of early stage proposals that contemplate sharply reducing the number of firms it would supervise in four key financial services markets.
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August 07, 2025
Under The Radar: Bankruptcy News You May Have Missed
A bitcoin miner said its early investors cannot file claims in its Chapter 11 that allege the company was mismanaged, arguing those claims belong to the debtor's estate. A Brazilian fiber network company objected to the novel plans of telecommunications group Oi to end its Chapter 15 recognition of ongoing overseas restructuring to file for Chapter 11 instead. And a group of tort claimants said Genesis Healthcare's debtor-in-possession loan and auction plans would hamper their ability to pursue wrongful death and personal injury litigation.
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August 07, 2025
Eventide Creditors Seek Trustee To Take Over Ch. 11 Case
The official committee of unsecured creditors in the Chapter 11 case of consumer lending company Eventide Credit Acquisitions has asked a Texas judge for the appointment of a trustee to oversee the proceedings, saying the debtor and its principal have flouted the rules of bankruptcy since the case began in 2023.
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August 07, 2025
Ex-Parler Owner Confirms Ch. 11 Liquidation Plan
A Delaware bankruptcy judge Thursday confirmed the Chapter 11 liquidation plan from the company that once owned conservative social media platform Parler after the debtor resolved an objection from its ousted CEO.
Expert Analysis
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GENIUS Act Could Muck Up Insolvency Proceedings
While some of the so-called GENIUS Act's insolvency provisions are straightforward, others run the risk of jeopardizing the success of stablecoin issuers' insolvency proceedings and warrant another look from Congress, say attorneys at Morgan Lewis.
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Playing The Violin Makes Me A Better Lawyer
Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo.
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Law School's Missed Lessons: Practicing Self-Care
Law schools don’t teach the mental, physical and emotional health maintenance tools necessary to deal with the profession's many demands, but practicing self-care is an important key to success that can help to improve focus, manage stress and reduce burnout, says Rachel Leonard at MG+M.
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ABA Opinion Makes It A Bit Easier To Drop A 'Hot Potato'
The American Bar Association's recent ethics opinion clarifies when attorneys may terminate clients without good cause, though courts may still disqualify a lawyer who drops a client like a hot potato, so sending a closeout letter is always a best practice, say attorneys at Thompson Hine.
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My Opera And Baseball Careers Make Me A Better Lawyer
Though participating in opera and the world of professional baseball often pulls me away from the office, my avocations improve my legal career by helping me perform under scrutiny, prioritize team success, and maintain joy and perspective at work, says Adam Unger at Herrick Feinstein.
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8 Ways Lawyers Can Protect The Rule Of Law In Their Work
Whether they are concerned with judicial independence, regulatory predictability or client confidence, lawyers can take specific meaningful actions on their own when traditional structures are too slow or too compromised to respond, says Angeli Patel at the Berkeley Center of Law and Business.
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Despite Dark Clouds, Outlook For US Solar Has Bright Spots
While tariff, tax policy and bankruptcy news seemingly portends unending challenges for the U.S. solar energy industry, signs of continued growth in solar generating capacity and domestic solar manufacturing suggest that there is a path forward, say attorneys at Beveridge & Diamond.
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Law School's Missed Lessons: Communicating With Clients
Law school curricula often overlook client communication procedures, and those who actively teach this crucial facet of the practice can create exceptional client satisfaction and success, says Patrick Hanson at Wiggam Law.
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Adapting To Private Practice: From US Rep. To Boutique Firm
My transition from serving as a member of Congress to becoming a partner at a boutique firm has been remarkably smooth, in part because I never stopped exercising my legal muscles, maintained relationships with my former colleagues and set the right tone at the outset, says Mondaire Jones at Friedman Kaplan.
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Senate's 41% Litigation Finance Tax Would Hurt Legal System
The Senate’s latest version of the Big Beautiful Bill Act would impose a 41% tax on the litigation finance industry, but the tax is totally disconnected from the concerns it purports to address, and it would set the country back to a time when small plaintiffs had little recourse against big defendants, says Anthony Sebok at Cardozo School of Law.
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Performing As A Clown Makes Me A Better Lawyer
To say that being a clown in the Macy’s Thanksgiving Day Parade has changed my legal career would truly be an understatement — by creating an opening to converse on a unique topic, it has allowed me to connect with clients, counsel and even judges on a deeper level, says Charles Tatelbaum at Tripp Scott.
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Law School's Missed Lessons: Rejecting Biz Dev Myths
Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.
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9th Circ. Has Muddied Waters Of Article III Pleading Standard
District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.