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Linqto's Private Stock Deal Applies Ch. 11 To Novel Terrain
Months into its bankruptcy, investment platform Linqto has proposed a novel Chapter 11 deal to let retail investors profit from the rise of private technology companies, offering in-kind recoveries under a plan that creatively applies provisions of bankruptcy law, experts told Law360.
Under The Radar: Bankruptcy News You May Have Missed
FTX's recovery trust announced plans to give creditors $1.6 billion in distributions, the trustee overseeing the liquidation of Bernie Madoff's fraudulent investment firm won a $6.4 million clawback fight with another firm, and fiber network developer Tilson asked for more time to file a Chapter 11 plan. These are some of the bankruptcy stories you may have missed in the past week.
Mega-Bankruptcies Hit Post-COVID High, Report Says
Big corporate bankruptcies are on the rise, with 17 companies that hold more than $1 billion in assets each filing for bankruptcy in the first half of 2025, marking the highest number of filings in any six-month period since the onset of the COVID-19 pandemic in 2020, according to a report released Wednesday by Cornerstone Research.
Linqto's Private Stock Deal Applies Ch. 11 To Novel Terrain
Months into its bankruptcy, investment platform Linqto has proposed a novel Chapter 11 deal to let retail investors profit from the rise of private technology companies, offering in-kind recoveries under a plan that creatively applies provisions of bankruptcy law, experts told Law360.
Under The Radar: Bankruptcy News You May Have Missed
FTX's recovery trust announced plans to give creditors $1.6 billion in distributions, the trustee overseeing the liquidation of Bernie Madoff's fraudulent investment firm won a $6.4 million clawback fight with another firm, and fiber network developer Tilson asked for more time to file a Chapter 11 plan. These are some of the bankruptcy stories you may have missed in the past week.
Mega-Bankruptcies Hit Post-COVID High, Report Says
Big corporate bankruptcies are on the rise, with 17 companies that hold more than $1 billion in assets each filing for bankruptcy in the first half of 2025, marking the highest number of filings in any six-month period since the onset of the COVID-19 pandemic in 2020, according to a report released Wednesday by Cornerstone Research.
Expert Analysis
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Law students typically have weeks or months to prepare for any given deadline, but the unpredictability of practic... (more story)
An unusual ruling from the Delaware Court of Chancery recently allowed Caremark oversight claims to proceed agains... (more story)
The Eleventh Circuit recently held that equitable tolling was unavailable to extend a deadline to object to discha... (more story)
Large Cap More
The founder and president of hedge fund Highland Capital Management has asked the U.S. Supreme Court to weigh in on a bankruptcy judge's refusal to recuse herself from proceedings involving the company after s... (more story)
A group comprising at least a dozen entities affiliated with Carnaby Capital Holdings LLC filed for Chapter 11 protection in Texas on Wednesday, reporting liabilities of between $1 billion and $10 billion.
A New York bankruptcy judge agreed on Thursday to table a request by the Roman Catholic Diocese of Buffalo, New York, to hire Jones Day for help working out legal issues related to a nonprofit, as the debtor r... (more story)
Michael Best & Friedrich LLP is expanding its Denver office through a merger with 15-attorney litigation- and bankruptcy-focused firm Allen Vellone Wolf Helfrich & Factor PC, the firm said Wednesday.
A Delaware bankruptcy judge has confirmed Avon's Chapter 11 plan a few days after verbally agreeing to approve it.
Jackson Walker LLP has reached two new settlements to resolve claims related to a concealed romance between a former firm attorney and a onetime bankruptcy judge, marking at least five such settlements since t... (more story)
Omnicare LLC, a CVS Health subsidiary that provides pharmacy services for long-term care facilities, won a Texas bankruptcy court approval on Wednesday to use $25 million of interim debtor-in-possession financ... (more story)
The official committee of unsecured creditors in the Chapter 11 case of medical transport company Modivcare objected to final approval of the debtor's $100 million bankruptcy loan late Tuesday, telling a Texas... (more story)
Lawyers winding down the bankruptcy estate of department store J.C. Penney told a Texas bankruptcy judge on Wednesday they expect to be able to make final creditor payments shortly, nearly five years after the... (more story)
Kennedys CMK grew in New Jersey this week with the hire of a bankruptcy and creditors' rights expert joining the firm after nearly 20 years as a partner at Connell Foley LLP.
Mid Cap More
A Missouri bankruptcy judge said Thursday he was prepared to allow the Chapter 11 plan of 23andMe to go out for a creditor vote and have the go-ahead to deal with what the former genetic testing company said m... (more story)
Phil McGraw, also known as Dr. Phil, hit back Thursday at accusations that workers at his television channel joint venture were fired when it filed for bankruptcy so they could work for a new entity started by... (more story)
Flagstar Bank has urged a Michigan federal judge to grant it an early win against a former executive of the now-bankrupt Live Well for his role in a scheme to defraud lenders by inflating the value of bonds, s... (more story)
Former Sacks Weston attorney Scott Diamond's counsel urged the New Jersey Supreme Court on Thursday to refrain from disbarring him for fraudulently resolving cases behind his former firm's back, arguing during... (more story)
The founder and former CEO of Nikola said Thursday he will appeal a Delaware bankruptcy court's approval of the electric-truck maker's Chapter 11 plan, which has already settled the U.S. Securities and Exchang... (more story)
A Texas environmental regulator has objected to the proposed sale of assets of debtor Aleon Metals, telling a bankruptcy court Aleon is seeking to unload environmental permits that state law does not allow to ... (more story)
The owner of a lot in California estimated to be worth $46 million renewed efforts to perform a Chapter 11 and address unsustainable debt, having filed for bankruptcy earlier this year but not completing the process.
A Texas bankruptcy judge gave Maverick Gaming permission Wednesday to sell four of its card rooms to its founder for $28 million, a price the casino operator said was driven up more than 60% through competitive bidding.
Oil and gas shipping company Eletson Holdings has again urged a New York bankruptcy court to have Reed Smith disqualified from its Chapter 11 case, asserting that recent court rulings indicate the entity the l... (more story)
California's oldest independent bookstore chain, Books Inc., received approval Wednesday from a bankruptcy judge for a $3.25 million sale to Barnes & Noble, and hopes to close on the sale Oct. 1.