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The dramatic case of Prince Global Holdings, whose founder is accused of running one of Asia's largest transnational criminal organizations, illustrates the breadth of issues that Chapter 15 of the U.S. Bankruptcy Code can handle — and potentially its limits, cross-border insolvency experts told Law360.
First Brands was cleared to send its Chapter 11 plan to a creditor vote, defeating calls to convert the case to a Chapter 7 liquidation. The Supreme Court reversed a Fifth Circuit decision that barred a man from bringing a personal injury lawsuit he failed to disclose in bankruptcy. And a company linked to an alleged trafficking ring won Chapter 15 recognition.
Bankrupt drug research and development company Inotiv Inc. has tapped a team of lawyers from Hunton Andrews Kurth LLP and Ropes & Gray LLP to see it through a Chapter 11 it began with nearly $489 million in debt and support from most of its creditors for a reorganization plan.
A group of malpractice claimants in the Chapter 11 case of Prospect Medical Holdings have challenged a $26 million insurance settlement proposed by the company's plan administrator, saying the deal goes back o... (more story)
The recovery trust created under former crypto platform FTX Trading Ltd.'s Chapter 11 plan walked away from a $1.15 billion fraudulent transfer lawsuit it launched last fall in Delaware bankruptcy court agains... (more story)
The Florida Development Finance Corp. has extended the term rate on $985 million in bonds borrowed by Brightline Florida Holdings LLC in relation to a project to expand passenger rail in the Sunshine State, ac... (more story)
The maker of Sleep Number mattresses sought Chapter 11 protection in New York. A real estate company controlled by the Haruvi family that co-owns several apartment buildings in Manhattan also launched a bankru... (more story)
Ultinon Motion Holding BV, a Netherlands-based affiliate of embattled auto parts manufacturer First Brands received permission Tuesday to seek votes on a Chapter 11 liquidation plan after the debtor switched f... (more story)
The Roman Catholic Diocese of Oakland on Monday asked a California bankruptcy judge to approve its $180 million Chapter 11 plan over the objections of sexual abuse claimants who argue the diocese can afford to... (more story)
The First Circuit ruled that Puerto Rico's financial restructuring does not protect government officials from being sued in their personal capacities for alleged civil rights violations, rejecting the argument... (more story)
A Maryland bankruptcy judge Monday encouraged the Archdiocese of Baltimore and a group of child sexual abuse claimants to seek mediation of a lingering issue as they continue to negotiate over a Chapter 11 pla... (more story)
Johnson & Johnson urged a New Jersey federal court to toss all the pending cases in the sprawling multidistrict litigation alleging that its talc products caused ovarian cancer after the plaintiffs withdrew th... (more story)
Former trucking firm Yellow Corp. received approval Monday for a three-month discovery and briefing schedule for an estimation proceeding covering the withdrawal liability claims of three pension funds, for wh... (more story)
A Delaware bankruptcy judge Tuesday signed off on a Chapter 11 liquidation plan proposed by US Magnesium's unsecured creditors, overruling objections to the deal by the debtor's owner and Wells Fargo.
A former Highpower International Inc. stockholder has asked the Delaware Chancery Court to appoint a receiver to take control of the dissolved battery maker's remaining assets and affairs, arguing it stripped ... (more story)
A Delaware bankruptcy judge on Tuesday agreed to approve the $3.25 million sale of cryptocurrency financial technology firm BlockFills to a Belgian digital asset investment group as BlockFills prepares for a C... (more story)
Insurance company Hallmark Financial Services has filed for Chapter 11 protection in Texas with a prepackaged plan to deal with nearly $134 million in debt with either a sale or an equity swap.
A Texas bankruptcy judge told a pair of fracking and sand mining firms Monday she will greenlight the "two-tracked" sale procedures they have submitted, whereby a stalking horse bidder will create a company to... (more story)
Carlton Fields pushed back Monday on a request from the CEO of Miss America and companies linked to the pageant to bar a firm attorney from a status conference in their litigation over Miss America's bankruptc... (more story)
Simry Realty Corp., a company controlled by the Haruvi family that co-owns several apartment buildings in Manhattan, has filed for Chapter 11 protection in New York with up to $100 million in debt, saying a di... (more story)
A California soda ash and borate mining operation filed for Chapter 11 protection Monday in Delaware bankruptcy court with $85.5 million of secured debt and plans to sell its assets.
A development company that sought to revive a 38-acre Detroit hospital campus and transform it into a $148 million commerce and innovation hub has filed a complaint in Michigan bankruptcy court claiming the ci... (more story)
Bio-based chemical technology company Viridis Chemical LLC received court approval Friday in Texas for its Chapter 11 plan disclosure statement and can begin soliciting creditor votes ahead of a July 8 confirmation hearing.
Lowell Citron, Geena Caporale and Michelle Podolnyy
The rollout of the Uniform Commercial Code's Article 12 is transforming digital asset secured lending, forcing len... (more story)
Zachary Kobrin and Zev Shechtman
The recent Cannabist Chapter 15 recognition order is arguably the most significant cannabis bankruptcy development... (more story)
Ashley Zitrin
Moving an unwilling 800-pound cow while riding a horse at high speed is exhilarating, a little unhinged and, at le... (more story)