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Latest News in Bankruptcy

  • July 23, 2019

    $50M IRS Claim Holds Up Avadel Pharma Ch. 11 Confirmation

    Attorneys for bankrupt drugmaker Avadel Specialty Pharmaceuticals LLC said Tuesday that a combined hearing on its Chapter 11 plan and disclosure statement would have to wait after the Internal Revenue Service filed a $50 million claim against the estate related to outstanding tax liabilities.

  • July 23, 2019

    US Trustee, NY AG Rip Ditech Plan To Ditch Consumer Claims

    The federal bankruptcy watchdog and New York’s attorney general blasted bankrupt mortgage servicer Ditech Holding Corp.’s proposed $1.8 billion asset sale Tuesday, calling the plan a brazen and totally unprecedented attempt to evade liability for thousands of fraud and misconduct claims lodged by Ditech’s customers.

  • July 22, 2019

    11th Circ. Affirms FDIC's $5M Win In Suit Over Bank Failure

    The Eleventh Circuit published an opinion on Monday affirming the Federal Deposit Insurance Corp.'s $5 million jury award won in Georgia federal court against the former directors of the failed Buckhead Community Bank.

  • July 22, 2019

    White Eagle Reworks Ch. 11 Sale Order After Lenders Balk

    Last minute assurances of lender payoff rights headed off a Delaware Bankruptcy Court post-confirmation fight Monday over a proposed order authorizing life insurance policy investor White Eagle Asset Portfolio to sell most of its equity to buy out key lenders by Sept. 17.

  • July 22, 2019

    Blackhawk OK’d To Tap $240M Loan After Lien Changes

    Bankrupt coal miner Blackhawk Mining LLC received court approval Monday in Delaware to access a portion of $240 million in post-petition financing packages after a judge raised concerns about granting liens on some of the debtor’s leased properties.

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