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Lender Favors In Ch. 11 Get Riskier With ConvergeOne Ruling
Companies that offer incentives to select lenders in bankruptcy could face new legal challenges following a Texas federal court's ruling in the case of ConvergeOne, whose Chapter 11 plan was found to have violated the law by excluding certain creditors from a lucrative equity offering, experts told Law360.
First Brands Gets $1B DIP, Hooters Approved To Exit Ch. 11
A Texas bankruptcy judge granted an interim approval for First Brands' $1.1 billion debtor-in-possession loan. Hooters of America won court approval of its reorganization plan. The judge ruled the automatic stay in Alex Jones' Chapter 7 case does not extend to his media company, Free Speech Systems, while the unsecured creditors' committee in TPI Composites' Chapter 11 sued its equity holder, alleging a prepetition uptier deal unfairly elevated its creditor status.
What's Happening In Bankruptcy Court This Coming Week
Kidde-Fenwal is asking to send its Chapter 11 plan to creditors for a vote, despite steadfast objections from states who say the firefighting foam maker hasn't given enough information on releases in its latest disclosure statement.
Lender Favors In Ch. 11 Get Riskier With ConvergeOne Ruling
Companies that offer incentives to select lenders in bankruptcy could face new legal challenges following a Texas federal court's ruling in the case of ConvergeOne, whose Chapter 11 plan was found to have violated the law by excluding certain creditors from a lucrative equity offering, experts told Law360.
First Brands Gets $1B DIP, Hooters Approved To Exit Ch. 11
A Texas bankruptcy judge granted an interim approval for First Brands' $1.1 billion debtor-in-possession loan. Hooters of America won court approval of its reorganization plan. The judge ruled the automatic stay in Alex Jones' Chapter 7 case does not extend to his media company, Free Speech Systems, while the unsecured creditors' committee in TPI Composites' Chapter 11 sued its equity holder, alleging a prepetition uptier deal unfairly elevated its creditor status.
What's Happening In Bankruptcy Court This Coming Week
Kidde-Fenwal is asking to send its Chapter 11 plan to creditors for a vote, despite steadfast objections from states who say the firefighting foam maker hasn't given enough information on releases in its latest disclosure statement.
Expert Analysis
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Junior law firm associates must be careful to avoid five common pitfalls when drafting legal briefs — from includi... (more story)
A recent Third Circuit decision that tort claims against the purchaser of a debtor's business belong to the debtor... (more story)
Empowering paralegals through new models of education that emphasize digital fluency, interdisciplinary collaborat... (more story)
Large Cap More
A nearly $1 billion judgment for falsely billing the government for prescriptions sent Omnicare into bankruptcy, but Medicare and Medicaid reimbursement issues and other difficulties had been weighing on the n... (more story)
A software company in the educational technology industry initiated Chapter 11 proceedings with more than $1 billion in debt. A restaurant chain that abruptly closed its locations last month began a Chapter 7.... (more story)
A Delaware bankruptcy judge said she would review proposed changes to the Chapter 11 plan disclosure from firefighting foam maker Kidde-Fenwal after expressing concern at a hearing Monday about not getting a l... (more story)
A federal district court judge blocked President Donald Trump's removal of three members of the Financial Oversight and Management Board for Puerto Rico who had accused the president of illegally firing them without cause.
A Texas bankruptcy judge on Monday permitted Modivcare to send its Chapter 11 plan out for a vote, saying he was going to trust the debtor to move expeditiously towards a confirmation hearing but would divert ... (more story)
Orrick Herrington & Sutcliffe LLP announced Monday that it has opened a new office in Charlotte, North Carolina, and added a 37-lawyer collateralized loan obligations and asset-backed lending team from Cadwala... (more story)
The U.S. Supreme Court on Monday rejected six petitions in patent-related cases, taking some of its first actions on intellectual property matters this term.
The U.S. Supreme Court will hear oral arguments in six cases during the first week of its October 2025 term, including in disputes over federal candidates' ability to challenge state election laws, Colorado's ... (more story)
After a busy summer of emergency rulings, the U.S. Supreme Court will kick off its October 2025 term Monday with only a few big-ticket cases on its docket — over presidential authorities, transgender athletes ... (more story)
A Texas bankruptcy judge Friday agreed to give final approval to medical transport company Modivcare's request to borrow $100 million in debtor-in-possession funds, finding that what the unsecured creditors' c... (more story)
Mid Cap More
Specialty medical practice Global Wound Care has told a Texas bankruptcy judge it is waiting on $27.2 million in Medicare reimbursement payments, saying the risk that the delays could put it into a liquidity c... (more story)
A Delaware bankruptcy judge on Tuesday approved job search site CareerBuilder + Monster's Chapter 11 plan after the debtor struck a deal that could help holders of unsecured claims land a recovery.
US Magnesium told a Delaware bankruptcy judge Monday that it would temporarily set aside requests to borrow Chapter 11 financing and launch a sale process, as unsecured creditors push to convert the case to a ... (more story)
The city of Chester has asked a Pennsylvania bankruptcy judge to reject a request from the Chester Water Authority for relief from the automatic stay in the city's Chapter 9 case, saying the CWA was renewing a... (more story)
A company and several affiliates associated with convicted real estate investment fraudster Moshe "Mark" Silber filed for Chapter 11 on Monday in New Jersey bankruptcy court with up to 199 estimated creditors ... (more story)
Restaurant chain Iron Hill Brewery filed for Chapter 7 protection in New Jersey court about 10 days after it abruptly closed all of its locations and told employees it would be pursuing bankruptcy.
A Delaware bankruptcy judge has approved pharmaceutical services company Azzur Group's revised Chapter 11 plan five months after it failed to confirm the first version.
The U.S. Supreme Court on Monday declined to take up two whistleblowers' case alleging the U.S. Securities and Exchange Commission shortchanged them after they helped to uncover purportedly the largest fraud i... (more story)
The U.S. Trustee's Office has asked a Delaware bankruptcy judge to reject the proposed debtor-in-possession financing for U.S. Magnesium, saying the terms hand control of the case to the DIP lender and propose... (more story)
Wells Fargo agreed to pay $33 million to resolve allegations it played a supporting role in two "free trial" marketing ploys that pulled $200 million from consumers, schemes that were the subject of since-sett... (more story)