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Brazilian Airline Azul's $3B Path To A Ch. 11 In NY
Brazilian airline Azul racked up $3 billion in debt in the process of trying to recover from the COVID-19 pandemic and made several attempts at restructuring that never got off the ground, before landing in a bankruptcy court in New York, its case filings showed.
What's Happening In Bankruptcy Court This Coming Week
Bankruptcy judges will hear arguments on approving the Chapter 11 plans of nursing facility operator Petersen Health Care and investment group The Aztec Fund, decide if satellite communications company Ligado Networks can send out its plan for a creditor vote, and determine if life insurance bond seller GWG Holdings can settle claims against directors for allegedly diverting company funds.
Under The Radar: Bankruptcy News You May Have Missed
A technology platform for startups is hoping to mediate a string of legal disputes with a creditor and former business partner in its Chapter 11. The Church of Jesus Christ of Latter-day Saints urged a Delaware bankruptcy judge to enforce the Boy Scouts of America's Chapter 11 channeling injunction, saying it has been forced to defend itself from released claims. And ExxonMobil objected to a biofuel startup's Chapter 11 auction proposal, asserting that it has rights to certain intellectual property up for sale.
Brazilian Airline Azul's $3B Path To A Ch. 11 In NY
Brazilian airline Azul racked up $3 billion in debt in the process of trying to recover from the COVID-19 pandemic and made several attempts at restructuring that never got off the ground, before landing in a bankruptcy court in New York, its case filings showed.
What's Happening In Bankruptcy Court This Coming Week
Bankruptcy judges will hear arguments on approving the Chapter 11 plans of nursing facility operator Petersen Health Care and investment group The Aztec Fund, decide if satellite communications company Ligado Networks can send out its plan for a creditor vote, and determine if life insurance bond seller GWG Holdings can settle claims against directors for allegedly diverting company funds.
Under The Radar: Bankruptcy News You May Have Missed
A technology platform for startups is hoping to mediate a string of legal disputes with a creditor and former business partner in its Chapter 11. The Church of Jesus Christ of Latter-day Saints urged a Delaware bankruptcy judge to enforce the Boy Scouts of America's Chapter 11 channeling injunction, saying it has been forced to defend itself from released claims. And ExxonMobil objected to a biofuel startup's Chapter 11 auction proposal, asserting that it has rights to certain intellectual property up for sale.
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Large Cap More
The liquidation trustee for the bankrupt National Realty Investment Advisors LLC accused Bank of America and other parties in New Jersey bankruptcy court of aiding or participating in the developer's $664 mill... (more story)
The New Jersey bankruptcy judge overseeing Rite Aid's current insolvency case pressed pause Monday on appeals of orders he entered last year in the drugstore chain's previous Chapter 11.
A Texas bankruptcy judge asked for more details before he would allow department store Conn's to solicit votes on its Chapter 11 liquidation plan.
Sunnova Energy International, a major residential solar panel designer, filed for Chapter 11 protection in Texas Sunday, with $8.9 billion in debt amid an industry downturn and uncertainty around the future of... (more story)
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including where the hotel sector stands at the midyear, which states are trying to curb healthcare investment models a... (more story)
The twice-bankrupt drug store chain Rite Aid is seeking to reassure landlords who filed a spate of objections in recent days that it intends to continue meeting lease obligations despite its move to close some locations.
General Motors asked a New York bankruptcy court to enforce a 2009 Chapter 11 sale order, saying a recently amended consumer data privacy complaint from the Texas attorney general effectively includes successo... (more story)
An undivided U.S. Supreme Court issued five unanimous rulings this week, weighing in on the burden majority-group plaintiffs must meet in discrimination cases, what counts as a religious organization for purpo... (more story)
Purdue Pharma has asked a New York bankruptcy judge to extend a litigation injunction in its Chapter 11 until late November or after it secures confirmation of its bankruptcy plan, whichever is earlier, saying... (more story)
A New York federal judge on Thursday allowed Brazilian airline Gol Linhas Aéreas Inteligentes SA to put its confirmed Chapter 11 plan into motion, finding the Office of the U.S. Trustee's request for a partial... (more story)
Mid Cap More
Charter School Capital Inc., a company that provides funding for charter schools across the country, filed for Chapter 11 protection in Delaware bankruptcy court with up to $50 million in debt, saying it plans... (more story)
A bank that says it's owed nearly $48 million by a group of bankrupt Pennsylvania nursing homes will get first dibs on what's left in their accounts under a settlement approved by a federal bankruptcy judge Mo... (more story)
Canadian clothing retailer Oak and Fort Corp. and several affiliates have filed for Chapter 15 protection in New York bankruptcy court with almost $20 million in debt, saying U.S. tariffs on China have cut int... (more story)
Home solar panel financing company Solar Mosaic has filed for Chapter 11 protection in a Texas bankruptcy court with over $264 million in debt and sale plans, saying it is facing a contracting solar market and... (more story)
The court-appointed trustee overseeing the Chapter 11 of fintech middleware firm Synapse Financial Technologies Inc. is asking a California bankruptcy judge to convert the case to a Chapter 7 liquidation, desp... (more story)
A New York bankruptcy judge expressed concerns Friday about the scope of modifications that Sticky's, a popular chicken restaurant chain, made to its already-confirmed Chapter 11 plan once it found a buyer tha... (more story)
The U.S. Trustee's Office has asked a Texas bankruptcy judge to reject the Chapter 11 plan floated by a boat and water sports retailer known as Tommy's Boats, arguing it contains nonconsensual third-party rele... (more story)
A Delaware bankruptcy judge has granted final approval for medical technology company Accelerate Diagnostics' $20 million debtor-in-possession financing, which is backed by lenders, including its stalking horse bidder.
New Jersey-based Porzio Bromberg & Newman PC asked a Louisiana federal judge to dismiss a doctor's suit accusing the firm of driving him into bankruptcy, arguing that there's no jurisdiction that would justify... (more story)
The receiver for the bankrupt city of Chester, Pennsylvania, told a state court Thursday that the city-created stormwater authority and its board of directors violated their charter and state law by expanding ... (more story)