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Board Purge May Not Bring Puerto Rico Utility Bond Payments
President Donald Trump's dismissal of nearly the entire board overseeing Puerto Rico's debt restructuring may result in a body that is more friendly to the island's electric utility bondholders, but their hopes for full payment will likely remain out of reach, experts told Law360
What's Happening In Bankruptcy Court This Coming Week
In the coming week, bankruptcy courts will consider Wag!'s Chapter 11 plan and disclosure statement, Sunnova Energy's request for conditional approval of its disclosure and vote solicitation process, Party City's final disclosure statement, and Linqto Texas' request for approval of debtor-in-possession financing.
Under The Radar: Bankruptcy News You May Have Missed
An appellate court dismissed an appeal California brought against 23andMe's bankruptcy sale after the parties agreed to end the case; Fannie Mae asked a New York bankruptcy judge to prevent the bankrupt owner of an apartment complex from using rent for Chapter 11 financing; and another New York bankruptcy judge ordered a law firm to return $30,000.
Board Purge May Not Bring Puerto Rico Utility Bond Payments
President Donald Trump's dismissal of nearly the entire board overseeing Puerto Rico's debt restructuring may result in a body that is more friendly to the island's electric utility bondholders, but their hopes for full payment will likely remain out of reach, experts told Law360
What's Happening In Bankruptcy Court This Coming Week
In the coming week, bankruptcy courts will consider Wag!'s Chapter 11 plan and disclosure statement, Sunnova Energy's request for conditional approval of its disclosure and vote solicitation process, Party City's final disclosure statement, and Linqto Texas' request for approval of debtor-in-possession financing.
Under The Radar: Bankruptcy News You May Have Missed
An appellate court dismissed an appeal California brought against 23andMe's bankruptcy sale after the parties agreed to end the case; Fannie Mae asked a New York bankruptcy judge to prevent the bankrupt owner of an apartment complex from using rent for Chapter 11 financing; and another New York bankruptcy judge ordered a law firm to return $30,000.
Expert Analysis
Residential mortgage lenders and servicers should prepare for significant amendments to Bankruptcy Rule 3002.1 tak... (more story)
After a semester using generative artificial intelligence tools with students in an entrepreneurship law clinic, w... (more story)
I took one negotiation course in law school, but most of the techniques I rely on today I learned in practice, whe... (more story)
Large Cap More
Kroll has been hit with a proposed class action in Texas federal court from an FTX creditor who says the claims and noticing agent should've done more to secure user data and notify claimants of key bankruptcy... (more story)
The U.S. Trustee's Office has objected to the prepackaged Chapter 11 plan from chipmaker Wolfspeed Inc., arguing the opt-out mechanism for obtaining creditor support for third-party releases is nonconsensual.
The new owner of international shipping company Eletson has asked a New York federal judge to vacate a $102 million arbitral award issued in a dispute with competitor Levona, saying the award is based on a "fi... (more story)
Bankrupt cosmetics giant Avon and its talc trust must modify its Chapter 11 reorganization plan to make some concessions to insurers, but the plan is otherwise confirmable and doesn't need to be sent out again... (more story)
A Texas bankruptcy judge Friday ordered the U.S. Trustee to add two trade creditors to the already formed creditors committee of multistate nursing home operator Genesis Healthcare, saying the group was skewed... (more story)
Party City's proposal to pay unsecured creditors $1 million under its Chapter 11 liquidation plan has sparked an objection from the U.S. Trustee's Office, which has argued the arrangement would violate bankrup... (more story)
Bankrupt nursing home operator Genesis urged a Texas bankruptcy judge Thursday to not delay final approval of its $30 million debtor-in-possession loan, fending off arguments from its unsecured creditors commi... (more story)
Investors who reached a $13.2 million settlement with the failed cryptocurrency lender BlockFi Inc. have urged a federal judge to move forward with the plan now that a class member has withdrawn his objections to the deal.
A Delaware bankruptcy judge on Thursday gave interim approval to bankrupt jewelry chain Claire's to receive a $22.5 million debtor-in-possession facility from a private holding company that plans to buy the ma... (more story)
National pharmacy chain Rite Aid told a New Jersey bankruptcy judge on Thursday that it has reached an agreement with prescription drug supplier McKesson Corp. on a path to end their dispute and move forward w... (more story)
Mid Cap More
A split Third Circuit panel on Friday upheld, 2-1, a New Jersey bankruptcy judge's discretion in reopening Congoleum Corp.'s 2003 Chapter 11 case and barring Occidental Chemical from pursuing Congoleum affilia... (more story)
Issues surrounding adequate protection payments in favor of truck lessors and financiers prevented bankrupt trucking firm Titan CNG LLC from receiving approval on Friday for its cash management motion, with a ... (more story)
The Consumer Financial Protection Bureau has reached a settlement with the bankruptcy trustee for Synapse Financial Technologies Inc. that could unlock millions of dollars in relief for consumers whose funds w... (more story)
Vodka maker Stoli Group USA on Friday told a Texas bankruptcy judge it has modified its plan to partially pay off its secured debt with liquor by giving the lender a partial real estate backstop, but that it s... (more story)
A Texas bankruptcy judge said Friday that he would approve bidding procedures for the assets of specialty recycler Aleon Metals LLC, setting up an auction Sept. 29 with a stalking horse bid from its debtor-in-... (more story)
An Oklahoma federal court correctly affirmed a bankruptcy court's refusal to reopen a case brought by a member of the Muscogee Creek Nation who claimed his tax debt should have been discharged in bankruptcy, t... (more story)
A New Jersey bankruptcy judge has confirmed the liquidation plan of Ohio-based compostable film producer Plastic Suppliers Inc. after a hearing on approval for the slightly amended proposal that will see some ... (more story)
A Delaware bankruptcy judge on Friday ordered coal producer White Forest Resources Inc.'s Chapter 11 case to be converted to a Chapter 7 liquidation after the debtor's attempt to sell a metallurgical coal mine fell through.
A multi-court string of settlements has produced a $33.75 million proposed payout for stockholders who alleged in direct and derivative state and federal actions that they were misled in deals that took electr... (more story)
The co-founder of bankrupt financial services company Aspiration Partners Inc. agreed on Thursday to plead guilty to defrauding investors and lenders.