Deal Struck In Discount Chain Plan, No Sanctions In J&J Case
Holders of notes issued by 99 Cents Only will take a $297 million haircut, Beasley Allen dodged discovery sanctions in Johnson & Johnson's latest spinoff bankruptcy and a Mexican industrial equipment leasing group sought U.S. recognition for its reorganization. This is the week in bankruptcy.
Stoli USA Says Putin Opposition Landed It In Bankruptcy
Vodka giant Stoli Group's U.S. arm has filed for Chapter 11 in Texas after having its last assets in Russia, amounting to $100 million, seized by Vladimir Putin's government, with its operations also being disrupted by a data breach and ransomware attack this summer.
The Story Behind Vroom's Chapter 11 Case
A few years ago, used-car seller Vroom Inc. was expanding rapidly and beating sales records quarter after quarter, spurred on by customers shopping online for vehicles during the COVID-19 pandemic. Now, Vroom is in bankruptcy court as a shell of its former self, seeking to turn over what remains of its business to investors.
Large Cap More
In a more muted holiday week for bankruptcy filings, the courts still saw several cases come in, including the U.S. arm for iconic vodka brand Stoli and the Cayman Island subsidiaries of struggling budget airline Spirit.
The lead attorney in Infowars host Alex Jones' $1.44 billion Connecticut defamation trial admits he "made a mistake" when he approved sending several Sandy Hook Elementary School victims' confidential records ... (more story)
Celsius Network founder Alex Mashinsky told a Manhattan federal judge Tuesday that he lied when he told the public that the fallen crypto lender's tokens were a safe investment, pleading guilty to fraud charge... (more story)
A California federal judge on Monday denied Tom Girardi's bid for a new trial after a jury found he misappropriated $15 million worth of client settlement funds, standing by a prior assessment that the disbarr... (more story)
Voyager Digital's former bank, Metropolitan Commercial Bank, has been hit with a 53-count complaint in New York federal court alleging it was complicit in bad behavior by the now-defunct crypto lender and shou... (more story)
A California federal judge has pared down a lawsuit looking to force financial regulators that stepped in after the high-profile collapse of Silicon Valley Bank to return some $1.9 billion in frozen deposits t... (more story)
Low-cost Brazilian airline GOL Linhas has reached a settlement that will cut the amount of taxes and fees it owes to government agencies in Brazil by about $750 million, as it seeks to restructure in Chapter 11.
The Tenth Circuit should not pay mind to arguments from the Teamsters about upholding a lower court's dismissal of Yellow Corp.'s $137 million suit against the union, the company is arguing, doubling down on i... (more story)
U.S. Supreme Court justices seemed divided during oral arguments Monday over whether the Tenth Circuit was correct to allow the bankruptcy trustee of a defunct Utah company to use state law to claw back $145,0... (more story)
An Oregon federal judge has said Holland & Knight LLP lawyers must turn over documents regarding their advice to Jackson Walker LLP on how to handle the "debacle" of a former firm partner's intimate relationsh... (more story)
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A law firm debtor urged a Florida bankruptcy court Tuesday to approve a $645,000 settlement in its Chapter 11 to resolve a proposed fraudulent misrepresentation class action in state court against a former Mia... (more story)
A Texas bankruptcy judge said Tuesday he would allow the U.S. arm of vodka giant Stoli Group to use cash collateral to fund its Chapter 11 case on an interim basis after the debtor reached an agreement on repo... (more story)
A Delaware bankruptcy judge gave Film Finance Inc., a company that offers financing for high-profile film projects, the go-ahead Tuesday to put itself on the auction block early next year after dropping protec... (more story)
Drugmaker Nostrum Laboratories told a New Jersey bankruptcy judge Tuesday that close to 30 parties are weighing bids for the company's assets, with the debtor planning to choose a stalking horse bidder in the coming weeks.
Oil and gas drilling services provider Independence Contract Drilling has filed for Chapter 11 protection in a Texas bankruptcy court with more than $230 million in debt and a prepackaged debt-swap restructuring plan.
Lowenstein Sandler LLP has asked an Essex County Superior Court judge to recuse himself over his social connections with the parties and counsel on the firm's $800,000 fee suit against a New Jersey cannabis dispensary
The producer of the Miss America pageant and its related entities have filed a $500 million racketeering suit in Florida accusing developer Glenn Straub of fraudulently pushing the organization into bankruptcy... (more story)
A bankrupt Chinese pool parts supplier has been accused by an American competitor of going to great lengths to skirt a $16 million false advertising and unfair business practices judgment in continued violatio... (more story)
The bankrupt developer of a housing project that was beset by landslides has settled with a construction company and a Western Pennsylvania township in exchange for finishing some of its remaining cleanup work... (more story)
A hearing on a motion to dismiss the Chapter 11 case of an entity tied to the Miss America pageant will wait until after the competition wraps up in January, a Florida bankruptcy judge ruled Wednesday, allowin... (more story)