November 25, 2024
Alex Jones and a backup bidder linked to his Chapter 7 are challenging the sale of his Infowars website to The Onion, alleging flaws in the auction process. A former FTX's tech deputy can avoid prison time for assisting the FTX fraud case by exposing programming flaws; attorneys who have represented Purdue Pharma can receive $21.2 million in fees for its work during summer. This is the week in bankruptcy.
November 22, 2024
A Delaware bankruptcy judge on Friday approved the $72.5 million sale of Jordan Health, the corporate parent of medical equipment company Avante Health, to an affiliate of Staple Street Capital after the debtor reached a settlement with unsecured creditors.
November 04, 2024
A Delaware bankruptcy judge Monday agreed to approve debtor-in-possession financing for Jordan Health, the corporate parent of medical equipment service provider Avante Health, after the debtor and DIP lender struck a deal with the official committee of unsecured creditors.
November 01, 2024
The unsecured creditors committee for medical equipment service provider Avante Health's corporate parent has asked a Delaware bankruptcy judge to reject the company's proposed bankruptcy financing package, arguing that a prepetition lender and stalking horse bidder could be allowed to grab unencumbered assets while underfunding the case.
October 21, 2024
The U.S. Trustee's Office has asked a Delaware bankruptcy judge to reject Jordan Health Products' request to pay its stalking horse bidder up to $750,000 in expense reimbursement, saying the bidder bought Jordan's debt for the express purpose of making the bid, so there is no need to sweeten the deal.
October 16, 2024
Several companies including True Value, Accuride and Jordan Health filed for Chapter 11 bankruptcy over the past week, citing financial strains from inflation, supply-chain issues and market changes.
October 15, 2024
The latest bankruptcy case of a Johnson & Johnson talc unit survived a motion to transfer the proceedings to New Jersey, decades-old hardware store chain True Value commenced a Chapter 11 case and the update plan disclosure statement for the parent of Bally Sports regional sports networks were approved by a Texas judge. This is the week in bankruptcy.
October 10, 2024
The parent of Avante Health Solutions, a medical equipment sale and service business, has filed for bankruptcy in Delaware and is planning to hold a Chapter 11 auction for its assets in November. Guiding the company through insolvency is a team of Polsinelli PC attorneys, who in recent years have helped debtors navigate tight Chapter 11 sales.
October 10, 2024
A Delaware bankruptcy judge on Thursday gave medical device sale and service business Avante Health Solutions permission to tap into $2.5 million in Chapter 11 financing and start down the road to a November sale of the business.
October 09, 2024
The parent company of medical device sale and service business Avante Health Solutions filed for Chapter 11 protection in Delaware court, saying prepetition litigation with competitors drained significant resources that led to a default on its secured debt obligations.