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Lender Favors In Ch. 11 Get Riskier With ConvergeOne Ruling
Companies that offer incentives to select lenders in bankruptcy could face new legal challenges following a Texas federal court's ruling in the case of ConvergeOne, whose Chapter 11 plan was found to have violated the law by excluding certain creditors from a lucrative equity offering, experts told Law360.
First Brands Gets $1B DIP, Hooters Approved To Exit Ch. 11
A Texas bankruptcy judge granted an interim approval for First Brands' $1.1 billion debtor-in-possession loan. Hooters of America won court approval of its reorganization plan. The judge ruled the automatic stay in Alex Jones' Chapter 7 case does not extend to his media company, Free Speech Systems, while the unsecured creditors' committee in TPI Composites' Chapter 11 sued its equity holder, alleging a prepetition uptier deal unfairly elevated its creditor status.
What's Happening In Bankruptcy Court This Coming Week
Kidde-Fenwal is asking to send its Chapter 11 plan to creditors for a vote, despite steadfast objections from states who say the firefighting foam maker hasn't given enough information on releases in its latest disclosure statement.
Lender Favors In Ch. 11 Get Riskier With ConvergeOne Ruling
Companies that offer incentives to select lenders in bankruptcy could face new legal challenges following a Texas federal court's ruling in the case of ConvergeOne, whose Chapter 11 plan was found to have violated the law by excluding certain creditors from a lucrative equity offering, experts told Law360.
First Brands Gets $1B DIP, Hooters Approved To Exit Ch. 11
A Texas bankruptcy judge granted an interim approval for First Brands' $1.1 billion debtor-in-possession loan. Hooters of America won court approval of its reorganization plan. The judge ruled the automatic stay in Alex Jones' Chapter 7 case does not extend to his media company, Free Speech Systems, while the unsecured creditors' committee in TPI Composites' Chapter 11 sued its equity holder, alleging a prepetition uptier deal unfairly elevated its creditor status.
What's Happening In Bankruptcy Court This Coming Week
Kidde-Fenwal is asking to send its Chapter 11 plan to creditors for a vote, despite steadfast objections from states who say the firefighting foam maker hasn't given enough information on releases in its latest disclosure statement.
Expert Analysis
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Large Cap More
A federal district court judge blocked President Donald Trump's removal of three members of the Financial Oversight and Management Board for Puerto Rico who had accused the president of illegally firing them without cause.
A Texas bankruptcy judge on Monday permitted Modivcare to send its Chapter 11 plan out for a vote, saying he was going to trust the debtor to move expeditiously towards a confirmation hearing but would divert ... (more story)
Orrick Herrington & Sutcliffe LLP announced Monday that it has opened a new office in Charlotte, North Carolina, and added a 37-lawyer collateralized loan obligations and asset-backed lending team from Cadwala... (more story)
The U.S. Supreme Court on Monday rejected six petitions in patent-related cases, taking some of its first actions on intellectual property matters this term.
The U.S. Supreme Court will hear oral arguments in six cases during the first week of its October 2025 term, including in disputes over federal candidates' ability to challenge state election laws, Colorado's ... (more story)
After a busy summer of emergency rulings, the U.S. Supreme Court will kick off its October 2025 term Monday with only a few big-ticket cases on its docket — over presidential authorities, transgender athletes ... (more story)
A Texas bankruptcy judge Friday agreed to give final approval to medical transport company Modivcare's request to borrow $100 million in debtor-in-possession funds, finding that what the unsecured creditors' c... (more story)
A Texas bankruptcy judge Friday extended the authority of the Chapter 7 trustee for subprime car lender and seller Tricolor Holdings to run the debtor's business as she attempts to secure the company's books a... (more story)
Investment platform Linqto received a Texas bankruptcy judge's approval for a novel Chapter 11 settlement with customers that would offer them a version of the exposure to private startups the company purporte... (more story)
In the latest settlement with Jackson Walker over a former partner's secret romance with an ex-bankruptcy judge, the litigation trustee for defunct life insurance bond settler GWG Holdings Inc. reached a $405,... (more story)
Mid Cap More
Restaurant chain Iron Hill Brewery filed for Chapter 7 protection in New Jersey court about 10 days after it abruptly closed all of its locations and told employees it would be pursuing bankruptcy.
A Delaware bankruptcy judge has approved pharmaceutical services company Azzur Group's revised Chapter 11 plan five months after it failed to confirm the first version.
The U.S. Supreme Court on Monday declined to take up two whistleblowers' case alleging the U.S. Securities and Exchange Commission shortchanged them after they helped to uncover purportedly the largest fraud i... (more story)
The U.S. Trustee's Office has asked a Delaware bankruptcy judge to reject the proposed debtor-in-possession financing for U.S. Magnesium, saying the terms hand control of the case to the DIP lender and propose... (more story)
Wells Fargo agreed to pay $33 million to resolve allegations it played a supporting role in two "free trial" marketing ploys that pulled $200 million from consumers, schemes that were the subject of since-sett... (more story)
An entity seemingly related to the renovation of a nearly 100-year-old hotel in Long Beach, California, entered Chapter 11 bankruptcy in the Golden State, hauling at least $50 million in debt.
A Texas bankruptcy judge on Friday rejected Stoli Group USA's Chapter 11 plan, saying the vodka maker's proposal to pay off $78 million in secured debt with 35,000 barrels of unfinished bourbon is unfeasible i... (more story)
A Delaware bankruptcy judge has ruled that $885,000 in refunded insurance premiums are property of the liquidation trust created under the Chapter 11 plan of BurgerFi International, finding those assets were s... (more story)
Image Locations Inc., a company that helps movie and television productions rent space to film, filed for small-business Chapter 11 in California bankruptcy court, saying it needed protection from lenders whic... (more story)
Cajun restaurant chain Razzoo's Inc. said Friday that it will consider competing offers for debtor-in-possession financing after its prepetition lender submitted a new proposal, and asked a Texas bankruptcy co... (more story)