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What's Happening In Bankruptcy Court This Coming Week
A Delaware bankruptcy judge will consider US Magnesium's bid for postpetition financing, Genesis Healthcare will go before a Texas judge seeking the all-clear to institute an executive bonus scheme, and another Texas judge will weigh a move to reopen satellite company Speedcast International Ltd.'s Chapter 11.
Rising Defaults, Withdrawal Requests Test Private Credit
With the hike in private credit defaults last year, the surge in private credit fund withdrawal requests in recent weeks, and the more than 50% drop in shares of some private credit firms like Blue Owl Capital, new questions are being raised about the viability of these funds.
Calif. Resort Developer SilverRock Files Ch. 11 Plan
The developer of a California resort project has proposed a new Chapter 11 plan and disclosure statement in Delaware bankruptcy court, seeking permission to solicit votes on a plan that will likely impair most secured creditors.
What's Happening In Bankruptcy Court This Coming Week
A Delaware bankruptcy judge will consider US Magnesium's bid for postpetition financing, Genesis Healthcare will go before a Texas judge seeking the all-clear to institute an executive bonus scheme, and another Texas judge will weigh a move to reopen satellite company Speedcast International Ltd.'s Chapter 11.
Rising Defaults, Withdrawal Requests Test Private Credit
With the hike in private credit defaults last year, the surge in private credit fund withdrawal requests in recent weeks, and the more than 50% drop in shares of some private credit firms like Blue Owl Capital, new questions are being raised about the viability of these funds.
Calif. Resort Developer SilverRock Files Ch. 11 Plan
The developer of a California resort project has proposed a new Chapter 11 plan and disclosure statement in Delaware bankruptcy court, seeking permission to solicit votes on a plan that will likely impair most secured creditors.
Expert Analysis
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Large Cap More
Label maker Multi-Color's Chapter 11 case will stay in New Jersey, Spandex maker Lycra hit Chapter 11 in Texas, and Jackson Walker can pay clients demanding refunds over a relationship between a former firm at... (more story)
A Texas bankruptcy judge approved a stipulation allowing for the $2.45 million sale of the Beverly Hills home of the former CEO of subprime auto lender Tricolor Holdings, even as the founder and the debtor's C... (more story)
Senior living facility investor and operator Inspired Healthcare Capital can access a new $40 million debtor-in-possession loan and hold a June auction for its assets after it resolved a host of objections to ... (more story)
A New York federal judge on Friday permitted Levona Holdings to closely scrutinize declarations provided by attorneys with Greenberg Traurig LLP and Reed Smith LLP as it pursues sanctions against the firms fol... (more story)
The Texas Office of the Attorney General told a New York federal court that a bankruptcy court should have sat out a case the state brought against General Motors LLC over deceptive trade practice allegations ... (more story)
A New Jersey state appeals court has refused to pause its decision disqualifying the Beasley Allen Law Firm from representing plaintiffs in multicounty litigation over Johnson & Johnson's talc-based baby powde... (more story)
The City watchdog said Friday that it has launched an enforcement investigation into Market Financial Solutions Ltd., a U.K. provider of property loans that collapsed in February with debts of more than £1 bil... (more story)
McGlinchey Stafford PLLC shut down earlier this year after more than five decades, but its strong culture left many of the more than 100 former firm attorneys wanting to stick together even after the New Orlea... (more story)
A Texas bankruptcy judge agreed Thursday to give interim approval to a $184 million debtor-in-possession loan in Fat Brands' Chapter 11 case, and also approved a connected stipulation that temporarily removes ... (more story)
The Third Circuit is looking to fill two vacancies on New Jersey's bankruptcy court, which has emerged as a popular complex Chapter 11 venue, the appeals court announced Thursday.
Mid Cap More
Controversy over whiskey company Uncle Nearest Inc.'s Chapter 11 continued Friday, as the debtor's counsel from the case appealed a judge's ruling that dismissed the bankruptcy as filed without legitimate authority.
A Floridian facing a $28 million tax bill cannot invoke Bahamian law to avoid repatriating funds held in two Bahamian trusts, the U.S. government told a federal court, contending he is "cherry-picking" which j... (more story)
The Third Circuit on Monday sided with a nuclear power company in a dispute with an electrical workers union over contributions to employee healthcare premiums, holding that the union couldn't force issues out... (more story)
North Carolina's highest court has upheld a six-figure unjust enrichment verdict favoring the founder of the organic supermarket chain Earth Fare in a split decision that set off a debate among the justices ab... (more story)
A company that develops treatments to improve the health of the body's microbiome sought Chapter 11 protection, saying it had never generated a positive cash flow and faces unresolved litigation and a burdensome lease.
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A Texas bankruptcy judge on Friday approved requests by the Chapter 11 trustee for liquor maker Stoli Group USA LLC for permission to transfer some estate claims to a different trust, overruling an objection b... (more story)
The bankruptcy estate of casual dining chain TGI Fridays can seek votes on its Chapter 11 liquidation plan, a Texas bankruptcy judge said Friday, setting up a confirmation hearing for May 1.
Echo Payment Systems Inc. has filed for Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware, seeking to liquidate its assets and wind down operations, and the company will not attemp... (more story)
The Fifth Circuit has upheld a Texas bankruptcy judge's ruling on Instant Brands' Chapter 11 plan, finding he correctly held the reorganized appliance group could retain indemnification rights from past orders... (more story)