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Tariffs Are Causing Bankruptcies, And A New DIP Covenant
From a small Canadian clothing retailer to a global auto parts maker, at least four companies placed the blame for their recent bankruptcies squarely on America's new tariff regime, with one even adding a tariff-specific covenant to its post-petition financing deal.
What's Happening In Bankruptcy Court This Coming Week
Bankruptcy judges will consider Exela Technologies' Chapter 11 plan and disclosure statement, decide whether Party City can solicit creditor votes on its plan, rule on the roughly $7 million asset sale of Publishers Clearing House, and address second-day motions in Everstream Solutions' case.
ABI Meeting Covers Chapter 11s, Trump, Cross-Border Issues
Lawyers, judges, clerks, academics and others met Tuesday for the American Bankruptcy Institute's one-day conference in New York City to examine key issues facing bankruptcy and restructuring professionals.
Tariffs Are Causing Bankruptcies, And A New DIP Covenant
From a small Canadian clothing retailer to a global auto parts maker, at least four companies placed the blame for their recent bankruptcies squarely on America's new tariff regime, with one even adding a tariff-specific covenant to its post-petition financing deal.
What's Happening In Bankruptcy Court This Coming Week
Bankruptcy judges will consider Exela Technologies' Chapter 11 plan and disclosure statement, decide whether Party City can solicit creditor votes on its plan, rule on the roughly $7 million asset sale of Publishers Clearing House, and address second-day motions in Everstream Solutions' case.
ABI Meeting Covers Chapter 11s, Trump, Cross-Border Issues
Lawyers, judges, clerks, academics and others met Tuesday for the American Bankruptcy Institute's one-day conference in New York City to examine key issues facing bankruptcy and restructuring professionals.
Expert Analysis
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Large Cap More
A Missouri bankruptcy judge said he will soon rule on the proposed $305 million sale of 23andMe to a nonprofit led by its co-founder. Meanwhile, shifting tariff policies under President Donald Trump have been ... (more story)
Semiconductor manufacturer Wolfspeed Inc. said it plans to file for Chapter 11 bankruptcy in the near future as part of a restructuring plan to reduce its total debt by approximately 70%, which is approximately $4.6 billion.
Flagstar Bank is urging a New York bankruptcy court not to let a New York City landlord's 82 entities use almost $30 million of the bank's collateral for other purposes, such as administrating their Chapter 11... (more story)
A Texas bankruptcy judge on Monday approved a $1.25 billion Chapter 11 restructuring for units of business automation group Exela Technologies, saying the plan had creditor support and the creditor claim relea... (more story)
A Delaware bankruptcy judge Monday approved insolvent satellite business Ligado Networks' deal with AST SpaceMobile Inc. that lets the companies work together to develop space-based broadband services, clearin... (more story)
Delaware firm Richards Layton & Finger PA announced Monday that bankruptcy attorney Paul N. Heath has been elected to serve as its next president starting July 1 and will be joined on the firm's leadership tea... (more story)
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including attorney insights into a senior housing surge, data center construction, and the Golden State's latest effor... (more story)
A New York bankruptcy judge Friday set OxyContin maker Purdue Pharma's second try at a bankruptcy plan on course for a November confirmation hearing, clearing the plan disclosure statement to be sent out for a creditor vote.
This past week in London has seen Pogust Goodhead face legal action from mining giant BHP Group, Trainline bring a procurement claim against the Department for Transport, Sworders auction house sue Conservativ... (more story)
A New Jersey state judge will allow two Beasley Allen Law Firm attorneys to represent a California couple in their suit accusing Johnson & Johnson of selling carcinogenic talc-based baby powder and appear pro ... (more story)
Mid Cap More
A New York bankruptcy judge on Monday granted Canadian clothing retailer Oak and Fort Corp. provisional protections in its Chapter 15 case while the debtor awaits recognition of its foreign insolvency as the p... (more story)
A former Chili's employee should have his wage and hour action against the chain's parent company tossed because the case wasn't listed among his assets in bankruptcy court, the company argued, saying he knew ... (more story)
After a second all-day hearing, a Missouri bankruptcy judge said he would decide as quickly as he can on the proposed $305 million sale of genetic testing company 23andMe to a nonprofit led by co-founder Anne Wojcicki.
Higher Ground Education Inc., an owner and operator of Montessori schools, received interim approval Friday from a Texas bankruptcy judge to access a portion of its $8 million in Chapter 11 financing, after is... (more story)
A Texas bankruptcy judge said Friday he will allow cryptocurrency miner Rhodium to set aside a group of startup funders' bid to terminate its exclusive right to file a Chapter 11 plan in its insolvency case, a... (more story)
White and Williams LLP announced this week that it has welcomed six Northeastern attorneys to its business department, two of whom will lead three new practice areas for the firm.
A gymnastics business will pay a former coach $50,000 to resolve a U.S. Equal Employment Opportunity Commission suit claiming the company's co-owner repeatedly propositioned her and other teen workers for sex,... (more story)
A Delaware bankruptcy judge Friday approved the $6 million sale of a subsidiary of bankrupt radio frequency filter maker Akoustis Technologies after hearing the company has reached a deal with a competitor who... (more story)
Several states indicated Wednesday they may no longer oppose the $305 million sale of 23andMe to a nonprofit led by Anne Wojcicki, a co-founder of the company, after the debtor structured the transaction as an... (more story)
Movie production company Village Roadshow Entertainment Group received approval Wednesday from a Delaware bankruptcy court for a $417.5 million sale of its film library assets, including blockbusters like "The... (more story)