Mid Cap
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April 09, 2024
Maryland Man Charged With $1.8M Bankruptcy Fraud Scheme
A Puerto Rico grand jury returned a multicount indictment charging a Maryland man with identity theft and mail and wire fraud in connection with an alleged scheme that fraudulently sought to obtain $1.8 million in unclaimed funds from more than two dozen bankruptcy courts.
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April 09, 2024
Q&A With Former Delaware Bankruptcy Judge Carey - Part I
Former U.S. Bankruptcy Judge Kevin Carey, now senior counsel at Hogan Lovells, recently sat down with Law360 to discuss his time on the bench and his thoughts on issues facing the bankruptcy bar today. In part one, he discusses Philadelphia versus Delaware, his toughest cases and lawyer burnout.
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April 09, 2024
Akin Lands Paul Hastings Atty As Restructuring Partner In NY
Akin Gump Strauss Hauer & Feld LLP has hired a Paul Hastings LLP of counsel as a financial restructuring partner in New York, its third Big Apple recruit from that firm in less than a month, the firm announced Tuesday.
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April 09, 2024
Solo Atty, Bankruptcy Pro Joins Lewis Brisbois In Del.
Lewis Brisbois Bisgaard & Smith LLP has bolstered its Delaware office with the addition of a commercial and bankruptcy attorney who formerly operated her own firm for more than six years.
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April 09, 2024
Embattled Houston Law Firm Files Ch. 11
Insurance law firm MMA Law Firm on Tuesday filed for Chapter 11 protection in a Texas bankruptcy court, weeks after a federal judge declined to toss a suit seeking class damages over the Houston firm's allegedly illegal efforts to solicit clients in hurricane-related property damage cases.
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April 08, 2024
NRA, LaPierre, Execs Seek To Ax $6M Misconduct Verdict
The National Rifle Association, its longtime CEO Wayne LaPierre and two other executives asked a New York judge to throw out a Manhattan jury's verdict that they improperly used donor money, among other misconduct, and owe the gun rights group a total of $6.4 million.
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April 08, 2024
US Trustee Attorney To Join N.H. Bankruptcy Bench
A trial attorney in the U.S. Trustee's stable will join New Hampshire's bankruptcy court as a judge when Chief Judge Bruce Harwood retires in August.
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April 08, 2024
WeWork Saves $8B, Do Kwon Found Liable, WOM CEO Leaves
One of the busiest weeks for new bankruptcies this year also featured notable developments in ongoing cases. Terraform Labs and its creator Do Kwon were found liable for securities fraud, WeWork announced it expects to save $8 billion by restructuring hundreds of leases, and a New York bankruptcy judge said he would take under advisement a decision about a sale of Rudy Giuliani's Florida condo.
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April 08, 2024
EV Charging Co. Overcomes Objection To Ch. 11 Loan Terms
A Delaware bankruptcy judge Monday approved $10 million in Chapter 11 financing for electric vehicle charging station company Charge Enterprises over the objections of creditors who claimed the terms of the loan are rushing the case to a conclusion.
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April 08, 2024
NY Bar Assoc. Building Owner's Ch. 11 Dispute Gets Mediator
A New Jersey bankruptcy judge on Monday ordered mediation for two Chapter 11 cases tied to the owner of the historic New York County Lawyers Association Building in Manhattan, naming longtime bankruptcy lawyer Albert Togut to referee the process.
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April 08, 2024
Cooley Adds 'Next-Gen' Restructuring Atty From O'Melveny
Cooley LLP on Monday hired the co-chair of O'Melveny & Myers LLP's bankruptcy litigation practice as its newest business restructuring practice and global litigation partner. Here, Daniel Shamah talks to Law360 Pulse about why he moved his practice.
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April 05, 2024
5th Circ. Blocks Biden Admin's Predatory College Loan Rule
The Fifth Circuit has ordered a preliminary injunction blocking the Biden administration's changes to a program providing student loan forgiveness to borrowers defrauded by higher education institutions, finding that the plaintiff representing for-profit colleges demonstrated a likelihood of suffering irreparable harm without the injunction.
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April 05, 2024
5th Circ. Axes $240K Sanction For Highland Capital Founder
A panel of the Fifth Circuit has reversed a nearly $240,000 sanction handed down by a Texas bankruptcy court, finding the lower court exceeded its authority by entering a contempt order against Highland Capital co-founder James Dondero and his affiliates for suing the insolvent hedge fund's new leadership in federal court.
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April 05, 2024
Creditors, Lender Agree On Almond Grower's Ch. 11 Loan
The Chapter 11 lender and unsecured creditors of almond grower Trinitas Farming Friday told a California bankruptcy judge they had worked out their disagreements in the final terms for the $30 million financing.
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April 05, 2024
Casa Systems Can Tap Lender Cash To Complete Ch. 11 Sale
Communications equipment provider Casa Systems received the Delaware bankruptcy court's permission Friday to use lender cash to fund its Chapter 11 bankruptcy, as the debtor pushes for a quick sale of its cloud and radio access network business.
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April 05, 2024
Haynes Boone Atty To Chair Bankruptcy College's Board
The American College of Bankruptcy has elected a seasoned Haynes and Boone LLP attorney with deep Texas roots and experience in oil and gas industry bankruptcies to take over as chair of its Board of Directors, according to announcements by the college and firm.
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April 05, 2024
Brooklyn Loft Owner Files Ch. 11 To Stay Property Sale
An affiliate of the owner of 40 lofts in Brooklyn filed for Chapter 11 protection in a New York bankruptcy court with $50 million to $100 million in debt to prevent an asset sale initiated by the lenders who hold an approximately $69.8 million mortgage loan.
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April 05, 2024
Terraform And Founder Do Kwon Held Liable For Crypto Fraud
A Manhattan federal jury quickly found bankrupt cryptocurrency startup Terraform Labs and its creator Do Kwon liable Friday for securities fraud, after the U.S. Securities and Exchange Commission claimed they lied to investors about the company's stability and business prospects.
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April 05, 2024
Judge Gives Sport Aircraft Maker Icon Ch. 11 Lifeline
A Delaware bankruptcy judge gave interim approval Friday to light-sport aircraft manufacturer Icon Aircraft to make use of $4 million of its desired $9 million bankruptcy funding as the company's Chapter 11 gets under way.
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April 04, 2024
Pump Co. Ch. 7 Trustee's $59.7M Case Could Go Before Jury
A Chapter 7 trustee and the owners of a Connecticut pump manufacturer will square off in federal district court over claims that executives raided $59.7 million from the Nash Engineering Co.'s coffers, lined its stockholders' pockets and plunged the entity into bankruptcy to avoid paying asbestos injury claims.
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April 04, 2024
Judge Punts 'Warning Shot' Condo Sale Bid In Giuliani Ch. 11
A New York bankruptcy judge held off on deciding if Rudy Giuliani must sell his Florida condo Thursday, cautioning attorneys for the former New York City mayor that the official committee of unsecured creditors might take more extreme steps in the Chapter 11 case if its concerns over Giuliani's expenses aren't addressed.
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April 04, 2024
Judge Gives One More Day To End Almond Grower DIP Row
A California bankruptcy judge again delayed a final decision on $30 million in Chapter 11 financing for almond grower Trinitas Farming, giving the lender and the company's unsecured creditors another day to try and work out their differences.
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April 04, 2024
Acorda Gets Interim OK For $60M DIP With $40M Rollup
Acorda Therapeutics Inc., a developer of drug treatments for neurological disorders, received on Thursday interim approval to access $10 million of a $60 million debtor-in-possession loan package from a group of prepetition noteholders.
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April 04, 2024
A Wild Bankruptcy Week Hints At Long-Awaited Ch. 11 Wave
In a single day this week, seven large organizations with nearly $3 billion in collective debt filed for bankruptcy protection, prompting restructuring professionals to once again ask if the much-anticipated post-COVID insolvency wave is finally afoot.
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April 04, 2024
Meet The Attys In Acorda Therapeutics' Ch. 11
Attorneys from Baker McKenzie LLP are representing Acorda Therapeutics in its Chapter 11 bankruptcy in New York as it moves toward a sale of its assets to another pharmaceutical company.