While First Brands sought to follow a Chapter 11 plan strategy like the one employed by Steward Health Care that aimed to pay professionals out of recoveries from future litigation, experts — and the judge himself — said the speculative nature of the strategy was a step too far for confirmation.
BFG Supply, a major distributor of horticultural products, filed for Chapter 11 with $100 million to $500 million in liabilities and plans to sell its assets. Houston-based Galindo Law Firm filed for bankruptcy amid a $9.5 million fee dispute tied to the Camp Lejeune litigation. And World Group Import, an e-commerce supplier to Amazon, filed for Chapter 11, citing tariffs, litigation costs and supply chain disruptions.
Genetic testing company Invitae Corp. and the Illinois parent of one of its customers are facing off in the company's bankruptcy case, dueling over the future of the parent's lawsuit claiming the company unlawfully disclosed its patients' genetic information.