Mid Cap
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December 01, 2025
Pa. City's Receiver Asks Court To Restructure Water Board
The state-appointed receiver for the city of Chester, Pennsylvania, asked the Commonwealth Court on Monday to dissolve and reconstruct the board of directors for its local water authority, arguing a law that lets other counties appoint members had been unconstitutionally written for the authority alone.
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December 01, 2025
Chancery Sets Standard In Scottish Re Case
The Delaware Chancery Court has signed off on the framework that will govern how scores of insurers press claims in the liquidation of Scottish Re (U.S.) Inc., issuing an opinion to spell out when courts must defer to the state insurance commissioner and when they must step in.
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December 01, 2025
23andMe Asks Judge To Settle Ch. 11 Trust Rules Dispute
Former DNA testing company 23andMe has urged a Missouri bankruptcy court to resolve a disagreement between the debtor's unsecured creditors and its shareholders over the rules that will govern the postbankruptcy claims trust proposed in its Chapter 11 plan.
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December 01, 2025
Venezuela Will Challenge $5.9B Sale Of Citgo Parent
Venezuela, the country's state-owned oil company and others have appealed a Delaware federal judge's order approving the $5.89 billion sale of Citgo Petroleum's parent company to an affiliate of hedge fund Elliott Investment Management LP, potentially delaying the long-awaited sale of Venezuela's most significant seizable asset.
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December 01, 2025
Whiteford Wins Remand Of Bankruptcy Fees Dispute
A dispute over nearly $600,000 in legal fees between Whiteford Taylor & Preston and a former client will be litigated at the state level after a Pennsylvania federal judge on Monday remanded the case to Allegheny County court.
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December 01, 2025
Rite Aid Gets Plan Nod, Justices Pass On Double-Dip Appeal
Rite Aid obtained confirmation of a Chapter 11 plan in its latest bankruptcy. The U.S. Supreme Court declined to take up an appeal regarding whether a judge allowed unsecured creditors to double-dip on recoveries. And a Delaware bankruptcy judge tossed $15 million in claims against the FTX trust that it described as fraudulent.
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December 01, 2025
Catching Up With Delaware's Chancery Court
The Delaware Chancery Court saw a slate of corporate law clashes this past week, from fast-moving injunction fights in consumer product and real estate markets to multibillion-dollar oversight claims against crypto executives and fresh battles over control for two sports teams.
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November 26, 2025
Under The Radar: Bankruptcy News You May Have Missed
Pinstripes, a restaurant and bowling alley chain, obtained permission to transition its bankruptcy into a Chapter 7 proceeding. A trustee overseeing equity assets from Rite Aid's last Chapter 11 got the all-clear to wind the trust down. And a Connecticut federal judge rejected an appeal from a law firm targeted by the Chapter 11 trustee for a Chinese exile and convicted fraudster.
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November 26, 2025
What's Happening In Bankruptcy Court This Coming Week
On the heels of the Thanksgiving holiday weekend, bankruptcy judges will consider debtor-in-possession financing requests from hospital operator Prospect Medical and Office Properties Income Trust, bidding procedures for the sale of pharmacy business Omnicare's assets, and a disclosure statement from mortgage service provider AmeriFirst Financial.
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November 26, 2025
Lenders Say Their Liens Are Senior In Dolphin Co. Ch. 11 Row
A group of secured lenders owed $100 million by dolphin park owner Leisure Investment Holdings LLC said in court filings Nov. 25 that its liens over the debtor's assets are senior to a judgment creditor and the group should be given an early win in the lien dispute.
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November 26, 2025
Calif. Cheesemaker Delays Ch. 7 Bid Amid Sale Progress
Cheese producer Rizo-Lopez Foods Inc. pushed back a motion to convert its Chapter 11 case to a Chapter 7 liquidation to Dec. 18, citing progress since it initially filed its conversion motion.
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November 26, 2025
Akerman Matches 2023 Partnership Class With 15 Additions
Akerman LLP announced Tuesday that it has promoted 15 lawyers to its partnership, the same number it promoted to partner in 2023 and five fewer than it tapped in 2024.
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November 26, 2025
Foley & Lardner Hit With Malpractice Suit Over Chancery Loss
Foley & Lardner LLP has been sued in Delaware Superior Court by three officers of a now-defunct food recycling company who say the firm was negligent when representing them in a Chancery Court case that led to a $1.6 million judgment against them and another officer.
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November 26, 2025
New Orleans Archdiocese Strikes Deal With Bondholders
The Roman Catholic Archdiocese of New Orleans has informed a Louisiana bankruptcy judge it cleared one of the major obstacles to confirmation of its Chapter 11 plan by reaching a settlement with objecting bondholders.
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November 25, 2025
Judge Gives Conditional OK To American Signature DIP Plan
A Delaware bankruptcy judge said Tuesday that she will approve home furnishing retailer American Signature Furniture's bid for interim approval of post-petition financing, after giving a mixed response to objections from the Office of the U.S. Trustee.
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November 25, 2025
Bitcoin Depot Unit Hit With $18.5M Arbitration Award
The parent of a Canadian company that develops software allowing global network users to deposit cash for Bitcoin or exchange Bitcoin for cash said its subsidiary was hit with an $18.47 million arbitral award in a dispute with a bankrupt operator of cryptocurrency ATMs.
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November 25, 2025
11th Circ. Backs Exclusion Of $80M Asset Valuation
The Eleventh Circuit ruled Monday that a bankruptcy judge did not err in excluding an expert's $80 million valuation of bankrupt title insurance underwriter ATIF Inc.'s 2015 transfer of two pieces of real estate along with intellectual property assets to Old Republic National Title Insurance Co.
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November 25, 2025
Battery Maker Powin Gets OK For Ch. 11 Liquidation Plan
A New Jersey bankruptcy judge Tuesday confirmed green energy storage manufacturer Powin LLC's Chapter 11 liquidation plan, overruling an objection by the U.S. Trustee's Office to the opt-out mechanism for obtaining creditor support for third-party releases.
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November 25, 2025
Meet The Attys Guiding American Signature Furniture In Ch. 11
National home goods retailer American Signature Furniture filed for bankruptcy protection in Delaware with plans to close stores and sell its assets. Guiding the company through Chapter 11 is a team of attorneys with Pachulski Stang Ziehl & Jones LLP.
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November 25, 2025
Maverick Gaming OK'd For $62.5M Core Asset Sale In Ch. 11
Maverick Gaming obtained Texas bankruptcy court approval Tuesday for a $62.5 million sale of its core assets after the secured lenders that are purchasing the business and the debtor's unsecured creditors reached a tentative deal allowing the transaction to go forward.
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November 25, 2025
Catching Up With New Bankruptcy Case Action
National home goods retailer American Signature Furniture filed for Chapter 11 after seeing a slump in sales compounded by macroeconomic conditions. A Canadian oil and natural gas driller asked for Chapter 15 recognition of its restructuring efforts. And two pharmaceutical developers filed for bankruptcy, with one looking to hold a Chapter 11 sale of its assets and the other eyeing a Chapter 7 liquidation.
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November 25, 2025
Biomedical Co. Gets First-Day Ch. 11 Relief Amid Sale Push
Clearside Biomedical Inc., a company that develops treatments for serious eye diseases, received a Delaware bankruptcy judge's permission Tuesday to pay contractors' wages and prepetition taxes as the company kicks off a Chapter 11 case designed to help find a buyer for its assets.
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November 25, 2025
Court Won't Alter Nikola Corp. Founder's Ch. 11 Appeal Issues
A Delaware bankruptcy judge declined Tuesday to narrow an appeal of his order approving electric-truck maker Nikola Corp.'s Chapter 11 plan brought by company founder Trevor Milton, who was pardoned by President Donald Trump of securities fraud charges earlier this year.
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November 25, 2025
Delaware Judge Accepts $5.89B Bid For Control Of Citgo
A Delaware federal judge on Tuesday approved a $5.892 billion bid from hedge fund Elliott Investment Management LP to purchase shares in Citgo's parent company and satisfy billions of dollars' worth of Venezuelan debt, moving a step closer to ending the long-delayed sale.
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November 25, 2025
Solar Energy Co. PosiGen Hits Ch. 11 After Loan Breach Suit
Solar energy company PosiGen has entered into bankruptcy in Texas lugging at least $100 million in debt roughly a month after it was sued in a case alleging a breach of loan agreements.
Expert Analysis
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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.
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Vendor Rights Lessons From 2 Chapter 11 Cases
A Texas federal court’s recent critical vendor order in the Zachry Holdings Chapter 11 filing, as well as a settlement between Rite Aid and McKesson in New Jersey federal court last year, shows why suppliers must object to critical vendor motions that do not recognize creditors' legal rights, says David Conaway at Shumaker.
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Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?
A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.