Mid Cap
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March 21, 2025
Danimer Approved For Initial Ch. 11 Loan As It Seeks Buyer
Plastic alternative maker Danimer Scientific received interim approval Friday for $1 million in Chapter 11 financing, telling a Delaware bankruptcy judge that it is trying to find a buyer for its manufacturing facilities.
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March 21, 2025
No Suspension Pause For Ex-Alex Jones Atty, Ethics Boss Says
A former Alex Jones attorney's two-week suspension from practicing law in Connecticut should not be halted amid an impending appeal, but he should get credit for a previous weeklong suspension he served over the same mishandling of confidential information about family members of Sandy Hook shooting victims, the state's chief legal ethics official said in a new filing.
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March 21, 2025
Credit Unions Denied Class Cert. In NY Rate Cut Suit
A trio of Western New York credit unions can't get certification for a class of state court consumer debt judgment holders after a lengthy "abusive and tactical" delay in filing their certification bid in a suit over a state law aimed at decreasing the default interest rate for such judgments, a Manhattan federal judge found.
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March 20, 2025
NH Power Plant Co. Files New Ch. 11 Plan 1 Year Later
The operator of a New Hampshire power plant fueled by scrap wood has asked for court approval to solicit creditor votes for a new version of its Chapter 11 plan, which opts for restructuring the company rather than selling it as contemplated by the earlier version it filed nearly one year ago.
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March 20, 2025
Judge Nixes Bid For InfoWars Publisher In Alex Jones Ch. 7
A Texas bankruptcy judge has rejected a new $8 million cash offer for Free Speech Systems, the publisher of InfoWars, writing he already ruled out a sale of FSS' assets in the Chapter 7 of conspiracy theorist Alex Jones.
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March 20, 2025
Bad Faith Dismissal Shows Perils Of Involuntary Filing
A Delaware bankruptcy judge's dismissal of the involuntary Chapter 7 of the defunct subsidiary of an electric vehicle company as a bad faith end-run around a district court ruling is an example of the perils of an involuntary filing, bankruptcy professionals told Law360.
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March 20, 2025
Houston's MMA Law Inks Ch. 11 Deal With Litigation Funder
Houston's bankrupt MMA Law Firm PLLC has struck a deal to share the proceeds of its mass tort lawsuits with litigation funders Equal Access Justice Fund LP, a key creditor, in exchange for support of its Chapter 11 plan.
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March 20, 2025
UpHealth Extends Ch. 11 Voting Deadline For The Fifth Time
Bankrupt medical technology company UpHealth has extended the voting deadline for its confirmed Chapter 11 reorganization plan and disclosure statement to next week, marking the fifth extension since the original deadline in February.
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March 20, 2025
NY Nursing Home Gets Ch. 11 Sale OK, Averting Closure
Nursing home operator Cold Springs told a New York bankruptcy judge Thursday the buyer of its 588-bed facility has quelled a dispute with a healthcare workers' union, clearing the way for a Chapter 11 sale.
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March 20, 2025
Travel App Mondee Wants Case Converted To Ch. 7
Travel app company Mondee Holdings Inc. asked a Delaware bankruptcy judge late Wednesday to convert its Chapter 11 case to a liquidation under Chapter 7, saying after it closes on a sale of its assets to existing lenders it won't have enough cash to pay the costs associated with confirming a Chapter 11 plan.
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March 20, 2025
NJ Event Venue Faces Ch. 11 Dismissal Over Insurance Issues
The Office of the U.S. Trustee urged a New Jersey federal judge to throw out or convert to a Chapter 7 liquidation the bankruptcy case of event venue The Chariot, saying the debtor's insurance for its $42 million worth of property is not sufficient.
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March 20, 2025
Soybean Co. Benson Hill Hits Ch. 11 With Plans To Sell
Benson Hill Inc., a company that develops a high-protein soybean, filed for Chapter 11 protection in Delaware bankruptcy court Thursday with $110.7 million in debt and plans to sell its assets through the case.
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March 20, 2025
Denver Environmental Lawyer Rejoins V&E From Kirkland
Vinson & Elkins LLP has announced the return of a Denver environmental lawyer from Kirkland & Ellis LLP.
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March 19, 2025
Brightmark Plastics' Path To A 'No Strings' Sale In Ch. 11
In the two years that it has been transforming used plastic into pyrolysis oil at its Indiana "circularity center," Brightmark Plastics Renewal LLC has struggled with capital expenses and production problems that left it unable to make enough to cover the costs of plant operations, leading it to file for bankruptcy on Sunday.
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March 19, 2025
Alex Jones' Sandy Hook Atty Wants Suspension Halved
A Connecticut attorney suspended for two weeks over his role in the mishandling of Sandy Hook families' confidential records has asked a state court judge to credit him for a weeklong suspension he served more than two years ago and to pause the order while he appeals.
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March 19, 2025
Liberated Brands Strikes Deal For Final $45M DIP OK In Ch. 11
Clothing retailer Liberated Brands secured final approval of its debtor-in-possession loan Wednesday, telling a Delaware bankruptcy judge that it struck a settlement with an apparel designer in connection with the upsized DIP.
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March 19, 2025
Schulte Roth Restructuring Leader Rejoins Cadwalader In DC
The former co-chair of Schulte Roth & Zabel LLP's business reorganization group has rejoined Cadwalader Wickersham & Taft LLP after more than a decade away from the firm, Cadwalader recently announced.
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March 19, 2025
NJ Lawyer Says SDNY Filing Ban Not In Court's Power
A lawyer who was barred from filing new petitions in the Southern District of New York bankruptcy court and was ordered to pay a $2,000 fine for an alleged pattern of filing and then abandoning bankruptcy cases is trying to overturn the judgment, arguing the court "overlooked matters" that would have counted in his favor.
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March 19, 2025
Bradley Expands Houston Office With Bankruptcy, Corporate Trio
Bradley Arant Boult Cummings LLP said Wednesday that it has expanded its bankruptcy and corporate team in Houston with the addition of three attorneys from Chamberlain Hrdlicka White Williams & Aughtry, including the former chair of the firm's bankruptcy, restructuring and creditor rights practice.
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March 19, 2025
Plastic Recycler Gets OK For Ch. 11 Financing
A Delaware bankruptcy judge on Wednesday gave an Indiana plastic recycling plant permission to make an initial draw on $13 million in Chapter 11 financing as it heads toward a May sale of its assets.
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March 19, 2025
Law360 Announces The Members Of Its 2025 Editorial Boards
Law360 is pleased to announce the formation of its 2025 Editorial Advisory Boards.
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March 19, 2025
Halliburton Included On Scanrock's Creditors Committee
The Office of the U.S. Trustee announced the appointment Tuesday of a four-member committee to represent unsecured creditors in the Texas Chapter 11 case of hydrocarbon driller Scanrock Oil & Gas Inc., including its largest unsecured creditor Halliburton Energy Services Inc.
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March 19, 2025
Scanrock Oil Royalty Holders Delay Ch. 11 Committee Bid
An ad hoc group of royalty interest owners in the Chapter 11 case of Scanrock Oil & Gas Inc. told a Texas bankruptcy judge Wednesday that they will delay their bid seeking the appointment of an official royalty holder committee in light of the recent creation of a statutory creditors committee in the Chapter 11 case.
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March 19, 2025
Plastic Alternative Maker Files Ch. 11 With $400M Of Debt
Plastics alternative maker Danimer Scientific Inc. has filed for Chapter 11 protection in Delaware listing about $400 million of debt, saying in a filing with the U.S. Securities and Exchange Commission that it plans to wind down.
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March 18, 2025
'Matrix' Film Producer Gets Initial OK For Ch. 11 Loans
A Delaware bankruptcy judge on Tuesday granted interim approval for Village Roadshow, the producer of major films like "The Matrix," to access part of a $12.7 million Chapter 11 financing package from its senior lenders, after initially expressing concerns over how the funding ties to proposed sale procedures.
Expert Analysis
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7 Steps To Take Before Responding To Claim Objections
Excerpt from Practical Guidance
When counsel is notified of an objection to the proof of claim in a bankruptcy case, they should contact the client and begin discussing the cost and benefit of responding.
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Tips For Handling Single Asset Real Estate Bankruptcy Cases
Excerpt from Practical Guidance
Bankruptcy counsel should consider several strategies when representing either a debtor or lender in single asset real estate debtor Chapter 11 cases, which generally arise when a debtor is forced to file for relief to stop an impending foreclosure sale.
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How Methods Are Evolving In Textualist Interpretations
Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.
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Why Attorneys Should Consider Community Leadership Roles
Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.
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Ch. 11 Ruling Shows Early Attempt To Tackle Purdue Fallout
A Delaware bankruptcy court’s recent ruling in Parlement Technologies’ Chapter 11 case, which denied a bid by Parler’s former owner to extend its bankruptcy stay to nondebtors, illustrates early efforts to grapple with the U.S. Supreme Court's decision in Purdue Pharma for a recurring bankruptcy issue, say Daniel Lowenthal and Jonah Wacholder at Patterson Belknap.
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9 Liability Management Tips As Debt Maturity Cliff Looms
As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.
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How Cos. Can Leverage IP In Corporate Bankruptcy
In light of an increase in year-to-date Chapter 11 filings, businesses must understand the importance and value of intellectual property in corporate bankruptcy and restructuring, from contributing to enterprise value, to providing leverage in negotiations and facilitating recovery, says Gregory Campanella at Ocean Tomo.
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Avoiding Retail Bankruptcy As Economic Uncertainty Persists
Amid record retail bankruptcies and continued economic uncertainty in 2024, retailers can take specific steps like building stronger cash-flow models, managing inventory wisely and reassessing cost structures to avoid financial distress, say consultants at BRG.
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Banking Compliance Takeaways From Joint Agency Statement
Federal bank regulatory agencies’ recent joint statement warning of risks associated with third-party fintech deposit services spotlights a fundamental problem that may arise with bank deposit products that are made through increasingly complex customer relationships, says Tom Witherspoon at Stinson.
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Litigation Funding Disclosure Key To Open, Impartial Process
Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.
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Bankruptcy Courts May Be Budding Open To Cannabis Cases
Two recent California bankruptcy court rulings, denying motions to dismiss the respective debtors' bankruptcies, provide persuasive authority to allow cannabis debtors the protections of federal bankruptcy law, say Noah Weingarten and Bethany Simmons at Loeb & Loeb.